Gensource Potash Corp V.GSP

Gensource Agreement to Acquire Innovare Technologies Ltd.

[Betteryear2]

April 13, 2022 02:00 AM Eastern Daylight Time

SASKATOON, Saskatchewan & LONDON--(BUSINESS WIRE)--Gensource Potash Corporation (“Gensource” or the “Company”) (TSXV: GSP, AIM: GSP), a fertilizer development company focused on sustainable potash production, is pleased to announce it has reached a binding agreement (the “Agreement”) to acquire 100% of the issued and outstanding shares of Innovare Technologies Ltd. (“Innovare”), a privately-held developer of patented selective solution mining and brine processing technology for the recovery of potash and other soluble minerals. Gensource’s acquisition of Innovare’s shares will occur by way of a reorganization whereby Innovare’s existing shareholders will transfer the shares they hold in Innovare to Gensource in exchange for new common shares of Gensource (“Common Shares”). Following completion of the reorganization, Innovare will exist as a wholly-owned subsidiary of Gensource and Innovare’s business will be integrated with and controlled by Gensource.
 

 

https://www.businesswire.com/news/home/20220412006127/en/

[bobbythebaker]

The Innovare team did not have to agree to this deal.  Apparently they see more value in owning GSP shares at the upcoming equity financing price than collecting $11.5mm per module in cash.  It also would seem to indicate the Tugaske equity deal (and perhaps effort on additional modules) is going along well, as Innovare has undoubtedly signed NDAs to learn about GSP's current and

[mdjbrown]

BTB you appear to have a very good grasp on Innovare and its team members. Could you summarize for the rest of us the projects Innovares production technology is currently being used at, and a little history about who founded Innovare and their current team. You mention that "the Innovare team did not have to agree to this deal"    Was there other deals on the table for

[black364]

LOL? The joint in the Jaw that splashes ink misses you too.

[mdjbrown]

Black, if I am not mistaken, the owners / inventors of the Innovare patented process filed in 2016, are also current Gensouce principles,  so they should certainly know the SMERP process inside and out Filed: Jul 6, 2016 Date of Patent: Nov 21, 2017 Assignee: Innovare Technologies Ltd. (Carlyle) Inventors: John Sheldon McEwan (Oceanside, CA), Sandy DeBusschere 

[black364]

Gensource is beaming with all of the colours of a rainbow.  Fortunately, brown isn't included in a rainbow.  Curiously, are you planning another trip to Moose Jaw? Coffee with Ron again? 

[mdjbrown]

Have to agree with you black Rainbows and unicorns.lol

[black364]

I've seen rainbows, I've never seen a unicorn, I'm starting to give up that I ever will.  As old Walt said, "it's a small, small world after all."  It is interesting what the grapevine is giving up.  Stay tuned. 

[Rattler99]

Black.. Great last couple posts. Try the 5mg gummies instead

[black364]

And just to add, under the vague guise of another reason you posted Ron Walter's skewed article towards Gensource again, this article was first posted a week ago.  We are all aware of the article and no one here supported it.  It seems you are the only one that feels it's necessary to keep it warm.  As usual, it takes bobby to be on the ball and post a valued article about

[mdjbrown]

lol Black, you have your tin foil hat on again I see.  Conspiracy theories much? Just because someone writes an article expressing his or her opinion negative or positive, about GSP or any other miner, take it for what it is worth......... I read the article here for the first time this week, and completey agree with the authors comments on our countries resource security. Too bad more are