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Gensource Potash Corp V.GSP

Alternate Symbol(s):  AGCCF

Gensource Potash Corporation is a fertilizer development company. The Company is focused on developing resource opportunities with a specific focus on potash development. Its projects include the Tugaske Project, Lazlo Area, and Vanguard Area Project. The Tugaske Project is the Company’s advanced potash project. It has completed a full, bankable feasibility study and a follow-on front-end engineering and design study (FEED). The Lazlo Area is located in central Saskatchewan along an infrastructure corridor between the major population centers of Saskatoon and Regina. The Area is located over a thick and rich region of the Prairie Evaporite formation known locally as the Davidson Sub-basin. The Vanguard Area is located in central Saskatchewan and comprises two mineral leases, KL244 and KL245, and Potash Permit, SMP200. SMP200, which abuts existing Company leases, is about 7,180 hectares and represents a direct addition to mineral leases KL244 and KL245 in the Company’s Vanguard Area.


TSXV:GSP - Post by User

Post by stockwatcher248on Nov 29, 2022 5:40am
353 Views
Post# 35135826

GSP...only thing that matters

GSP...only thing that matters
The Company continues its focus on completing the equity financing for the Tugaske Project (“Tugaske”
or the “Project”). Since the previous quarter’s MD&A, Gensource has shifted financing efforts to
discussions with specific private equity groups and those discussions are progressing well towards
agreed term sheets for equity investments that will complete the full financing required to construct the
Tugaske Project and bring it into operations. Two independent groups have provided term sheets and negotiations are on-going to obtain the best value for Gensource shareholders while ensuring the full
financing for Tugaske is in place. The Company will provide disclosure on the financing when definitive
terms are agreed. In the immediate term, the Company intends to raise additional financing for the Bridge
Engineering Tugaske project and for working capital purposes.
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