Gensource Potash Announces Exercise of Stock Options and TVR A few comments on the release I've pasted below:
(1) I looked through SEDI. The former director with options in these amounts and strikes was Paul Martin.
(2) I also noticed there is a batch of $0.13 options (another 4mm in all) coming up on 2/20/22, so expect to see some activity from Dahl, Ferguson, Morsky, Stauffer and Theoret.
(3) I consider this a good sign, as we have seen GSP option holders let their in-the-money shares expire in the past, but here Paul Martin would seem to feel he can hold onto these shares (maybe tax-wise it was a good year to let these gains show, or he feels GSP is about to make a major move up and wanted to pay taxes on a lower cost basis) or feels he will be able to eventually sell a couple million shares into what would have to be higher volume and presumably a higher priced market.
(4) I am now thinking we will see the LSE admission verbiage on every one of these, but it doesn't mean the shares are actually being issued under the LSE ticker.
(5) TVR stands for Total Voting Rights, in case you were wondering.
Gensource Potash Announces Exercise of Stock Options and TVR
SASKATOON, Saskatchewan & LONDON -- (Business Wire) --
Gensource Potash Corporation (“Gensource” or the “Company”) (AIM/TSXV: GSP), a fertilizer development company focused on sustainable potash production, announces that a former director of the Company has exercised previously issued Stock Options for gross proceeds of $222,500.
500,000 Options were exercised at a price of $0.13, 500,000 Options were exercised at a price of $0.105 and 750,000 Options were exercised at a price of $0.14. Accordingly, in aggregate, 1,750,000 new Common Shares have been issued.
Admission to trading on AIM and TVR
Application will be made for admission of the 1,750,000 new Common Shares, which will rank pari passu with existing Common Shares, to trading on AIM ("Admission"). It is expected that the Admission will become effective, and trading will commence at 8.00 am on 20 December 2021.
Following Admission, the Company's total issued share capital will consist of 420,488,995 Common Shares of no par value. For the purposes of the Disclosure Guidance and Transparency Rules, the total number of voting rights in the Company will be 420,488,995. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the UK’s Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
For any press enquiries please contact us on gensource@camarco.co.uk
Further information on Gensource Potash Corporation can be found at www.gensourcepotash.ca
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