Gensource Announces Exercise of Stock Options
SASKATOON, Saskatchewan and LONDON, February 14, 2022–(BUSINESS WIRE)–Gensource Potash Corporation (“Gensource” or the “Company”) (AIM/TSXV: GSP), a fertilizer development company focused on the sustainable production of potash, today announced that certain Company consultants have previously exercised options to purchase shares of the Company (“Options”) for ordinary shares of the Company (“Ordinary Shares”).
500,000 options were exercised at a price of $0.18 per common share and 100,000 options were exercised at a price of $0.17 per common share for total proceeds of $107,000. Therefore, a total of 600,000 new common shares were issued.
Admission to trading on AIM
Application will be made for the admission (the “Admission”) of the 600,000 New Ordinary Shares, which will rank pari passu with the Existing Ordinary Shares, to trading on the AIM market of the London Stock Exchange plc (“AIM” ). Admission is expected to become effective and trading to commence at 8:00 a.m. on February 18, 2022.
After admission, the aggregate issued share capital of the Company will consist of 421,088,995 ordinary shares without par value. For the purposes of the Disclosure Guidance and Transparency Rules of the UK Financial Conduct Authority, the total number of voting rights in the Company will be 421,088,995. This figure may be used by shareholders as the denominator for calculations by which they determine whether they are required to notify their interest or a change of interest in the Company under the disclosure and transparency rules of the UK Financial Conduct Authority.
More information about Gensource Potash Corporation is available at www.gensourcepotash.ca.
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Gensource is a fertilizer development company based in Saskatoon, Saskatchewan, and is poised to become the next fertilizer production company in this province. With a modular and eco-friendly 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 elements: (1) vertical integration with the market to ensure that all built production capacity is directed and pre-sold to a specific market, thereby eliminating market-side risk; and (2) technical innovation that will enable a small, cost-effective potash production facility that demonstrates environmental leadership within the industry by using significantly less water per tonne compared to conventional solution mining operations, producing no salt tailings, thus eliminating the risk of decommissioning, and requiring no surface brine ponds, thus removing the greatest negative environmental impact of potash mining.
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 press 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 Gensource’s expectations included in this press release. This press release contains 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 does not guarantee that actual results will meet management’s expectations.
Forward-looking statements include estimates and statements regarding Gensource’s future plans, objectives or goals that Gensource or management expects a stated condition or result to occur, including listing to AIM, the proposed financing of the Tugaske project and the development of the Tugaske project and other Gensource projects. Because forward-looking statements are based on assumptions and address future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Actual results relating to the success of the Tugaske Project and the financing of the Tugaske Project could differ materially from those currently anticipated in these statements for a number of reasons, including: the failure of the financing of the Tugaske Project or other projects on economic or not at all ; failure to enter into a definitive joint venture agreement with any party and to advance and finance the Tugaske Project; changes in general economic and financial market conditions; the ability to source and find off-take agreements; changes in potash demand and prices; litigation, legislative, environmental and other legal, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Gensource’s activities; an inability to predict and thwart the effects of COVID-19 on Gensource’s business, including, but not limited to, the effects of COVID-19 on commodity prices, capital market conditions, restrictions on labor and international travel and supply chains; failure to obtain required regulatory approvals; and other matters discussed in this press release and in filings with securities regulators. This list is not exhaustive of factors that could affect Gensource’s forward-looking statements. These and other factors should be carefully considered, and readers should not place undue reliance on Gensource’s forward-looking statements. Gensource does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of Gensource, except in accordance with applicable securities laws.
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Gensource potash company
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