TIDMGSP
RNS Number : 4516Y
Gensource Potash Corporation
04 May 2023
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES
Gensource Potash Strengthens Board of Directors
with the appointment of Wayne Brownlee
SASKATOON, Saskatchewan and London, U.K. - May 4, 2023 -
Gensource Potash Corporation ("Gensource" or the "Company")
(AIM/TSX-V: GSP), a fertilizer development company focused on
sustainable potash production, is pleased to announce that Wayne
Brownlee has agreed to accept an appointment to its Board of
Directors.
"On behalf of the Board of Directors and the entire Company, it
is a pleasure to welcome Wayne Brownlee, a highly respected and
accomplished potash industry veteran, to our team," said Stephen
Dyer, Board Chair. "Wayne's addition to the team will enhance our
collective knowledge and experience in the finance and the
fertilizers industry, not only for moving Tugaske into construction
but also for implementing future projects and products."
In 1977, after acquiring a Bachelor of Science and Master of
Business Administration from the University of Saskatchewan, Mr.
Brownlee began his career as a Budget Analyst with the Saskatchewan
Department of Finance. He later joined the Saskatchewan Department
of Energy and Mines as an Assistant Deputy Minister. As an
Associate Deputy Minister of the Treasury Board Division of the
Saskatchewan Department of Finance, he was responsible for
developing and implementing the Provincial Government's annual
budget and managing the Treasury Board process. His duties included
policy responsibility for legislative and regulatory reform,
taxation, and overall strategy.
Mr. Brownlee, a former Executive Vice President and CFO of both
PotashCorp. and Nutrien brings an exceedingly rare wealth of
knowledge, experience, and leadership to Gensource.
Wayne joined the Potash Corporation of Saskatchewan ("PCS") in
1989. He coordinated the Company's privatization which transformed
it from a provincial Crown corporation to a publicly traded
company. Over the next three decades, Wayne was a catalyst for the
expansion and development of PCS through acquisition activity. He
was instrumental in the acquisition of the company's nitrogen and
phosphate assets. Until 2018 Brownlee remained CFO at PCS when PCS
and Agrium merged to become Nutrien, the world's largest provider
of crop inputs, with its head office located in Saskatoon,
Saskatchewan. During his term as CFO at Nutrien, Wayne oversaw all
finance functions, plus the $6.0 billion divestment of equity
interests in the Chilean potash producer SQM, Israel-based ICL
Group and Jordan's Arab Potash Company.
Wayne's commitment to developing the potash industry is matched
by his devotion to his community. Wayne is a member of the Dean's
Advisory Council at the Edwards School of Business at the
University of Saskatchewan, the vice-chair of the Wanuskewin
Heritage Park, and the chair of the Saskatoon Public Schools
Foundation. Wayne unapologetically believes it is a moral
obligation to acknowledge the challenges faced by Indigenous people
and marginalized members of society. He is committed to learning
and working together to give everyone a chance to succeed.
"I look forward to helping bring Gensource's projects to
fruition," said Wayne Brownlee.
The appointment of Mr. Brownlee as Director of the Company is
subject to the satisfaction of certain conditions, including
receipt of all applicable regulatory approvals, including that of
the TSX Venture Exchange and completion of the Company's Nominated
Adviser's due diligence pursuant to the AIM Rules for Companies. A
further announcement will be made in this regard.
About Gensource:
Gensource is a fertilizer development company based in
Saskatoon, Saskatchewan and is on track to become the next
fertilizer production company in that province. With a modular and
environmentally leading approach to potash production, Gensource
believes its technical and business model will be the future of the
industry. Gensource operates under a business plan that has two key
components: (1) vertical integration with the market to ensure that
all production capacity built is directed, and pre-sold, to a
specific market, eliminating market-side risk; and (2) technical
innovation which will allow for a modular and economic potash
production facility, that demonstrates environmental leadership
within the industry, producing no salt tailings, therefore
eliminating decommissioning.
For further information on Gensource Potash, please contact:
Gensource Potash Corporation
Mike Ferguson - President & CEO +1-306-974-6414
Strand Hanson Limited (Nominated & +44 (0) 20 7409
Financial Adviser) 3494
Ritchie Balmer / Rory Murphy / Charles
Hammond
+44 (0) 20 7418
Peel Hunt LLP (Broker) 8900
Ross Allister / David McKeown / Georgia
Langoulant
For any press enquiries please contact Gensource at
306-974-6414.
Further information on Gensource Potash Corporation can be found
at www.gensourcepotash.ca
Follow us on twitter @GensourcePotash
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward looking information and
Gensource cautions readers that forward- looking information is
based on certain assumptions and risk factors that could cause
actual results to differ materially from the expectations of
Gensource included in this news release. This news release includes
certain "forward-looking statements", which often, but not always,
can be identified by the use of words such as "believes",
"anticipates", "expects", "estimates", "may", "could", "would",
"will", or "plan". These statements are based on information
currently available to Gensource and Gensource provides no
assurance that the actual results will meet management's
expectations.
Forward looking statements include estimates and statements with
respect to Gensource's future plans, objectives or goals, to the
effect that Gensource or management expects a stated condition or
result to occur, including any offering of securities by Gensource.
Since forward-looking statements are based on assumptions and
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated in such
statements for many reasons such as: failure to finance the Tugaske
Project or other projects on terms which are economic or at all;
failure to settle a definitive joint venture agreement with a party
and advance and finance the Tugaske Project; changes in general
economic conditions and conditions in the financial markets; the
ability to find and source off-take agreements; changes in demand
and prices for potash; litigation, legislative, environmental and
other judicial, regulatory, political and competitive developments;
technological and operational difficulties encountered in
connection with Gensource's activities; an inability to predict and
counteract the effects of COVID-19 on the business of Gensource,
including but not limited to the effects of COVID-19 on the price
of commodities, capital market conditions, restriction on labour
and international travel and supply chains, failure to obtain
required regulatory approvals; and other matters discussed in this
news release and in filings made with securities regulators. This
list is not exhaustive of the factors that may affect any of
Gensource's forward-looking statements. These and other factors
should be considered carefully, and readers should not place undue
reliance on Gensource's forward-looking statements. Gensource does
not undertake to update any forward-looking statement that may be
made from time to time by Gensource or on its behalf, except in
accordance with applicable securities laws.
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END
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