REG - Gensource Potash - Appointment of Director

Gensource PotashAnnouncement

04/05/2023 12:00

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RNS Number : 4516Y  Gensource Potash Corporation  04 May 2023

 

 

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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 & 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 (http://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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