Gensource Announces Granting of Stock Options
Gensource Announces Granting of Stock Options
SASKATOON, Saskatchewan--(BUSINESS WIRE)--August 3, 2021--Gensource Potash
Corporation (“Gensource” or the “Corporation”) (TSX-V: GSP) announces that it has today
granted 1,350,000 stock options (”Options”) to an officer and certain independent directors of
the Corporation at an exercise price of $0.22 and are exercisable for a period of 5 years. The
Options were granted under the Corporation's Stock Option Plan and each Option entitles the
holder to acquire one common share. This grant of Options is subject to acceptance by the TSX
Venture Exchange.
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 small scale 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 small 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 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 Statements
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 the results of the claim against the Company and HELM and the
proposed financing of the Tugaske Project. 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 relating to the Claim, the success of the Tugaske Project
and the financing of the Tugaske Project could differ materially from those currently anticipated
in such statements for many reasons such as: the impact of the Claim on the Company and the
Tugaske Project financing; 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 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.
Contacts
Gensource Potash Corporation:
Mike Ferguson, President & CEO