REG - Gensource Potash - Completion of Nominated Adviser Due Diligence

Gensource PotashAnnouncement

25/05/2023 07:00

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RNS Number : 5808A  Gensource Potash Corporation  25 May 2023

 

 

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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.

 

 Current Directorships/Partnerships   Past 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 & 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; 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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