REG - Gensource Potash - Results of AGM and Amendments to Articles

Gensource PotashAnnouncement

04/07/2023 07:00

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RNS Number : 8190E  Gensource Potash Corporation  04 July 2023

 

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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 (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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