TIDMGSP
RNS Number : 5808A
Gensource Potash Corporation
25 May 2023
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES
Completion of Nominated Adviser Due Diligence
SASKATOON, Saskatchewan and London, U.K. - May 25, 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, further
to its announcement on 4 May 2023, Strand Hanson Limited, the
Company's Nominated Adviser, has confirmed that it has completed
its due diligence on Wayne Brownlee pursuant to the AIM Rules for
Companies.
Further information on Wayne Brownlee's appointment:
The following details in relation to the appointment of Wayne
Brownlee are disclosed in accordance with AIM Rule 17 and Schedule
2(g) of the AIM Rules for Companies:
Wayne Richard Brownlee (aged 70) has held the following
directorships and/or partnerships in the past five years.
Past Directorships/Partnerships
Current Directorships/Partnerships (last five years)
Wanuskewin Heritage Park Authority Saskatoon Community Foundation
-----------------------------------------
Saskatoon Public Schools Foundation White Springs Agricultural Chemicals,
Inc*
-----------------------------------------
The Brownlee Family Foundation
Inc PCS Phosphate Company, Inc*
-----------------------------------------
PCS Sales (USA), Inc*
-----------------------------------------
PCS Administration (USA), Inc*
-----------------------------------------
PCS Nitrogen Payroll Corporation*
(formerly Arcadian Payroll Corporation)
-----------------------------------------
PCS Nitrogen Fertilizer Operations,
Inc*
-----------------------------------------
PCS Nitrogen Ammonia Terminal
Corporation*
-----------------------------------------
PCS Sales (Canada), Inc*
-----------------------------------------
Potash Corporation of Saskatchewan
Transport Limited*
-----------------------------------------
8727856 Canada Inc*
-----------------------------------------
*Subsidiaries of Potash Corporation of Saskatchewan Inc.
("PotashCorp"), which Mr. Brownlee resigned from during 2018.
Pursuant to the Company's 9 May 2023 announcement, Mr Brownlee
holds 1,000,000 stock options, granted at an exercise price of
$0.125 with a term of 5 years.
There is no further information to be disclosed in relation to
Wayne Brownlee's appointment pursuant to AIM Rule 17 or Schedule
Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.
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; 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
MSCNKQBKDBKBOPB
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