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RNS Number : 8190E
Gensource Potash Corporation
04 July 2023
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES
Gensource Potash Announces Shareholder Meeting Results and
Amendments to its Articles
SASKATOON, Saskatchewan and London, U.K., July 4, 2023 -
Gensource Potash Corporation ("Gensource" or the "Company") (TSXV:
GSP, AIM: GSP) is pleased to announce the results of its annual
general and special meeting of shareholders held on June 28, 2023
(the "Meeting"). At the Meeting, Gensource's shareholders:
-- Re-elected Alton Anderson, Michael Ferguson, Stephen Dyer,
Wayne Brownlee, Amy O'Shea and Calvin Redlick to the Board of
Directors;
-- Re-appointed MNP, LLP, Chartered Accountants, as auditor of the Company;
-- Re-approved the Company's amended and restated stock option plan; and
-- Approved the amendments to the articles of the Company, in
accordance with Section 14-3(1) of The Business Corporations Act,
2021 (Saskatchewan), to authorize the directors of the Company to
appoint one or more directors between meetings of shareholders,
which directors shall hold office for a term expiring not later
than the close of the next annual meeting of shareholders following
the appointment, provided that the total number of directors so
appointed may not exceed one--third of the number of directors
elected at the previous annual meeting of shareholders (the
"Amended Articles").
Holders of 196,983,078 common shares of the Company
(representing 44.895% of the outstanding shares of the Company)
were represented by proxy or voted online at the Meeting.
Following the Meeting, Gensource held a meeting of the board of
directors of the Company and re-appointed the board chair and the
officers of the Company as follows:
-- Board Chair - Stephen Dyer
-- President & CEO - Michael Ferguson
-- Chief Financial Officer - Alton Anderson
-- Vice-President Finance & Business Development - Robert Theoret
-- Vice-President Corporate Services and Corporate Secretary - Deborah Morsky
Gensource will file the Amended Articles as soon as possible.
Once filed, a copy of the Amended Articles will be filed on the
Company's SEDAR profile at www.sedar.com.
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 risk, and requiring no surface brine
ponds, thereby removing the single largest and negative
environmental aspect of potash mining.
For further information on Gensource Potash, please contact:
Gensource Potash Corporation
Mike Ferguson - President & CEO +1-306-974-6414
Strand Hanson Limited (Nominated & Financial
Adviser) +44 (0) 20 7409 3494
Ritchie Balmer / Rory Murphy / Charles Hammond
Peel Hunt LLP (Broker) +44 (0) 20 7418 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
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