GSP Gensource Potash Corporation (“Gensource” or the “Company”) (AIM/TSXV: GSP), a fertilizer development company focused on sustainable potash production, is pleased to announce a proposed best efforts, non-brokered private placement for gross proceeds of up to $6,000,000.00 (the “Offering”).
The Offering will consist of: (i) up to 20,000,000 units of the Company (“Unit”) at a price of $0.15 per Unit for gross proceeds of up to $3,000,000; and (ii) up to 15,000,000 common shares of the Company that are “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) (each a “Flow Through Share”) at a price of $0.20 per Flow Through Share for gross proceeds of up to $3,000,000.
oh sure lets dilute another 25 million shares...the flow through have an after tax cost of a dime (10c)...guess we have to keep those salaries paid...what a joke