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Gensource Potash Corporation (“Gensource” or the “Company”) (TSXV: GSP, AIM: GSP) announced today that following the approval by the shareholders of the Company at the annual general and special meeting of shareholders of the Company held on May 27, 2022 of the special resolution approving the continuance of the Company out of the Province of Ontario under the provisions of the Business Corporations Act (Ontario) and into the Province of Saskatchewan under the provisions of The Business Corporations Act (Saskatchewan) (the “Continuance”), the Company has completed the Continuance.
In accordance with AIM Rule 26, the Articles of Continuance are located on the Company’s website at: https://gensourcepotash.ca/documents-circulars/
As a result of the Continuance, the Company has changed its registered office from 18 King St. E., Suite 902, Toronto, Ontario, Canada M5C 1C4 to Suite 1100-201-1st Avenue South, Saskatoon, Saskatchewan, Canada S7K 7N2, effective immediately.
Mike Ferguson, President & CEO of Company, said “While the Continuance of the Company from its original incorporation place of Ontario to Saskatchewan is a detailed item, it marks a milestone in the on-going evolution of the Company. Gensource has grown up as a Saskatchewan company with a Saskatchewan focus on an important Saskatchewan commodity, potash. The company has been headquartered in Saskatoon since late 2012 and has received significant support from local Saskatchewan investors – investors who understand the vision and see the tremendous value proposition. The management team are all Saskatchewanians who have worked most of their careers here. We are proud to have continued the Company in Saskatchewan – it is now home”.
Further information on Gensource Potash Corporation can be found at www.gensourcepotash.ca
Follow us on twitter @GensourcePotash
About Gensource
Gensource is a fertilizer development company based in Saskatoon, Saskatchewan and is on track to become the next fertilizer production company in that province. With a modular and environmentally leading 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 components: (1) vertical integration with the market to ensure that all production capacity built is directed, and pre-sold, to a specific market, eliminating market-side risk; and (2) technical innovation which will allow for a modular and economic potash production facility, that demonstrates environmental leadership within the industry, producing no salt tailings, therefore eliminating decommissioning risk, and requiring no surface brine ponds, thereby removing the single largest and negative environmental aspect 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 Statement
This news 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 the expectations of Gensource included in this news release. This news release includes 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 provides no assurance that actual results will meet management’s expectations.
Forward looking statements include estimates and statements with respect to Gensource’s future plans, objectives or goals, to the effect that Gensource or management expects a stated condition or result to occur, including any offering of securities by Gensource. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements for many reasons such as: failure to complete an offering of securities; failure to finance the Tugaske Project or other projects on terms which are economic or at all; failure to settle a definitive joint venture agreement with a party and advance and finance the Tugaske Project; changes in general economic conditions and conditions in the financial markets; the ability to find and source off-take agreements; changes in demand and prices for potash; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Gensource’s activities; an inability to predict and counteract the effects of COVID-19 on the business of Gensource, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, failure to obtain required regulatory approvals; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Gensource’s forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on Gensource’s forward-looking statements. Gensource does not undertake to update any forward-looking statement that may be made from time to time by Gensource or on its behalf, except in accordance with applicable securities laws.
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