Gensource Potash Announces Director/PDMR Exercise of Options and Dealing
Gensource Potash Announces Director/PDMR Exercise of Options and
Dealing
Not for Distribution to U.S. News Wire Services or Dissemination in the United States
SASKATOON, Saskatchewan & LONDON--(BUSINESS WIRE)--June 14, 2022--Gensource
Potash Corporation (“Gensource” or the “Company”) (TSXV: GSP, AIM: GSP) announces the
following transactions:
On June 13, 2022, Michael Ferguson (CEO) exercised, for cash, 1,000,000 stock options
(“Options”) at C$0.13 per common share (“Common Share”), Deborah Morsky (PDMR)
exercised for cash, 1,000,000 Options at C$0.13 per Common Share and Robert Theoret
(PDMR) exercised, for cash, 807,000 Options at C$0.13 per Common Share in return for the
issue of 1,000,000, 1,000,000, 807,000 new Common Shares to Michael Ferguson, Deborah
Morsky and Robert Theoret, respectively. A non-PDMR has also exercised 500,000 Options in
return for 500,000 Common Shares at a price of C$0.13 on June 13, 2022.
In order to finance the exercise of the Options, Deborah Morsky and Robert Theoret have sold
500,000 and 375,000 Common Shares respectively at a price of C$0.27. The resultant holding of
Michael Ferguson, Deborah Morsky and Robert Theoret following the exercise of the Options
and the sale of Common Shares (where applicable), is 17,732,708, 6,649,771 and 10,012,750
Common Shares, respectively.
Following the exercise of the Options, the Company shall have a total of 27,550,000 options in
issue under the Company’s share option plan (as adopted in June 2018).
Application has been made for a total of 3,307,000 new Common Shares to be admitted to
trading on AIM (“Admission”). It is expected that Admission will occur on June 17, 2022.
Following Admission, the Company will have 424,395,995 Common Shares in issue with voting
rights and admitted to trading on AIM. This figure may be used as the denominator for the
calculations by which they will determine if they are required to notify their interest in, or a
change to, their interest in the share capital of the Company under the Financial Conduct
Authority’s Disclosure Guidance and Transparency Rules.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Michael Fer guson
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gensource Potash Corporation
b) LEI 213800WAVVOPS85N2205
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument Gensource Potash Corp Common
Shares
Identification code ISIN: CA37252X1042
b) Nature of the transaction Exercise of options
c) Price(s) and volume(s)
Price Volume
$0.13 1,000,000
d) A ggregated information
- A ggregated volume 1,000,000 Common Shares
- Price 0.13 Canadian dollars per share
e) Date of the transaction June 13 th, 2022
f) Place of the transaction TSX-V Exchan ge
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Deborah Morsk y
2 Reason for the notification
a) Position/status Vice-President Corporate Services and Corporate
Secretary
b) Initial notification/Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gensource Potash Corporation
b) LEI 213800WAVVOPS85N2205
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of
instrument
Gensource Potash Corp Common Shares
Identification code ISIN: CA37252X1042
b) Nature of the transaction 1) Disposal of shares
2) Exercise of options
c) Price(s) and volume(s) 1) Disposal of shares
Price Volume
$0.27 500,000
2) Exercise of options
Price Volume
$0.13 1,000,000
d) A ggregated information 1) Disposal of shares
- A ggregated volume 500,000 Common Shares
- Price 0.27 Canadian dollars per share
2) Exercise of options
- A ggregated volume 1,000,000 Common Shares
- Price 0.13 Canadian dollars per share
e) Date of the transaction June 13 th, 2022
f) Place of the transaction TSX-V Exchan ge
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Rob Theoret
2 Reason for the notification
a) Position/status Vice-President Finance & Business
Development
b) Initial notification/Amendmen t Initial notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name Gensource Potash Corporation
b) LEI 213800WAVVOPS85N2205
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of
transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, t ype of instrument Gensource Potash Corp Common Shares
Identification code ISIN: CA37252X1042
b) Nature of the transaction 1) Disposal of shares
2) Exercise of options
c) Price(s) and volume(s) 1) Disposal of shares
Price Volume
$0.27 375,000
2) Exercise of options
Price Volume
$0.13 807,000
d) A ggregated information 1) Disposal of shares
- A ggregated volume 375,000 Common Shares
- Price 0.27 Canadian dollars per share
2) Exercise of options
- A ggregated volume 807,000 Common Shares
- Price 0.13 Canadian dollars per share
e) Date of the transaction June 13 th, 2022
f) Place of the transaction TSX-V Exchan ge
This announcement contains inside information for the purposes of Article 7 of the Market Abuse
Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of the European
Union (Withdrawal) Act 2018 (as amended).
For any press enquiries please contact us on [email protected]
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 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.
Contacts
Gensource Potash Corporation
Mike Ferguson – President & CEO
+1-306-974-6414
Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / Rory Murphy / Charles Hammond
+44 (0) 20 7409 3494
Peel Hunt LLP (Broker)
Ross Allister / David McKeown / Georgia Langoulant
+44 (0) 20 7418 8900
Camarco (Financial PR)
Gordon Poole / Charlotte Hollinshead / Lily Pettifar
+44 (0) 20 3757 4997