Gensource Announces Results of Annual and Special Meeting
Gensource Announces Results of Annual and Special Meeting
SASKATOON, Saskatchewan--(BUSINESS WIRE)--July 2, 2021--Gensource Potash
Corporation (“Gensource” or the “Company”) (TSX-V: GSP) is pleased to announce the
results of its annual general and special meeting (the “AGSM”) of shareholders held on June 18,
2021. At the meeting, the Gensource shareholders:
• Elected Alton Anderson, Stephen Dyer, Michael Ferguson, Michael Mueller, Amy
O’Shea and Calvin Redlick to the Board of Directors;
• Re-appointed MNP LLP, Chartered Accountants as auditor of the Company and
authorized the Board of Directors to fix the auditor’s remuneration;
• Re-approved the Company’s stock option plan and
• Approved an amendment to the articles of the Company to include requirements to
disclose certain share ownership interests as further detailed in the information circular
sent to shareholders in connection with the meeting.
Holders of 186,129,255 shares (representing just over 45% of the outstanding shares of the
Company) were “present” or were represented by proxy at the virtual web-based AGSM.
Following the AGSM, Gensource held a Board of Directors meeting and re-appointed officers of
the company as follows: Michael Ferguson was re-appointed as President and Chief Executive
Officer; Alton Anderson was re-appointed as Chief Financial Officer, Robert Theoret was re-
appointed as Vice-President Finance & Business Development and Deborah Morsky was re-
appointed as Vice-President Corporate Services and Corporate Secretary.
“We are so pleased with the exceptional turnout of voters through proxy and in-person for this
year’s AGSM,” commented Mike Ferguson, President & CEO. “We have an incredibly
dedicated group of shareholders in the company – people and institutions who have a clear view
of the value proposition that Gensource offers as well as an understanding of the effort required
to attain our goals. We thank all our shareholders for their on-going and enthusiastic support.”
If you missed the meeting, please click on the following link to find the full recording of the
AGSM. - https://gensourcepotash.ca/wp-content/uploads/2021/07/Gensource-Meeting-
Recording.mp4.
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 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 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 Company becoming a producing potash company. 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
Company’s plans to become a potash producer could differ materially from those currently
anticipated in such statements for many reasons such as: failure to finance the Company’s
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