ROSEMERE, QC, March 7, 2012 /CNW Telbec/ - In order to allow mining exploration companies to fully profit from their results, without affecting their liquidity, Rosemere-based Photonic Knowledge has created a wholly owned subsidiary, Mineral Vectors Inc., whose primary mission is to offer financing to clients that will enable them to complete long term exploration projects using the revolutionary new Core Mapper™ hyperspectral imaging technology developed by Photonic Knowledge, and this, without affecting the exploration company's liquidity.
This was announced today by the President of Photonic Knowledge, Éric Roberge and the Vice-President of Corporate Development at Mineral Vectors Inc., Rahul Paul-Chowdhury. They added that some significant funding projects have already been completed with mining exploration companies in Abitibi and north-eastern Ontario.
Mr. Roberge and Mr. Paul-Chowdhury pointed out that financing projects such as these were made possible thanks to a network of financial officers that are acutely aware of the superior performance and technology of Photonic Knowledge's Core Mapper™, thus enabling funding of $100,000 to $5M. Many of these are non-traditional exploration investors so we do not find ourselves in competition with our clients.
For the Rosemère-based tech firm, this is a highly strategic move for the mining industry. As the Plan Nord accelerates, there are rules in place that require mining exploration companies be able to support their development and growth rate, in accordance to guidelines put in place by the Quebec Government.
AN INNOVATIVE AND PRECEDENT-SETTING APPROACH
For Photonic Knowledge's President, this financial tool developed by the company sets a new precedent in the mining world, and for the entire industry. Few companies, in any industry, are able to offer their clients similar financial services.
ADDED VALUE WITH SEVERAL BENEFITS
According to the Vice-President of Corporate Development at Mineral Vectors Inc., his company's participation in a project brings with it several benefits. For example, a mining exploration company will finally be able to demonstrate the value if its properties through its inventory of core samples, which become de facto elements of tangible assets. This supports the mining exploration company in gaining a better understanding of the mineralogical composition of their assets, and in seeking public or private capital funding.
By using the Core Mapper™ to analyse core samples, the risks inherent in early exploration and due diligence are drastically reduced, since the technology provides a better representation and visualisation of their properties; this can be a key element in a selling and negotiation process. For example, a project financed recently by Mineral Vectors allowed a client to get a full 3D visualisation of 100,000 meters of core samples, all done in less than 100 days, with absolutely no impact on the company's liquidity.
REALIZING CORE VALUES WITH THIS "WIN-WIN" FORMULA
Mr. Roberge and Mr. Paul-Chowdhury concluded by emphasizing that Mineral Vectors is really offering a "win-win" proposal: by financing Core Mapper™ users, it supports Photonic Knowledge's exceptional growth, while at the same time building tangible value for the mining exploration companies by reducing their exploration expenses, and optimizing their drilling and analysis processes, all enabling the acceleration of their schedules at the early stages of exploration.
For further information:
President and CEO
450.965-9913 ext. 200
Vice-President of Corporate Development, Mineral Vectors Inc.
450.965-9913 ext. 212
Cohn&Wolfe - Montreal
514.845-7068 (direct line)
514.845-7060 (direct line)