Gensource Potash Announces Extension to the Maturity Date of Convertible Debentures
Gensource Potash Announces Extension to the Maturity Date of Convertible
Debentures
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES
SASKATOON, Saskatchewan--(BUSINESS WIRE)--June 20, 2025--Gensource Potash
Corporation (“Gensource” or the “Company”) (TSXV: GSP), a fertilizer development company
focused on sustainable potash production, announces an extension to the maturity date of each of
the 5% convertible debentures of the Company (the “Debentures”) issued on October 19, 2021
in the principal amount of $2,000,000, from June 30, 2025 to June 30, 2026 (the “Debenture
Amendments”). All other terms remain the same.
Certain directors, former directors and officers of the Company are holders of Debentures,
holding a total of $1,995,000 principal amount of Debentures.) The Debenture Amendments are
deemed to be "related party transactions" as defined under Multilateral Instrument 61-101-
Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is
exempt from the formal valuation and minority approval requirements for related party
transactions pursuant to Subsection 5.5(a) and Subsection 5.7(a) of MI 61-101, respectively.
The Debenture Amendments remain subject to receipt of all necessary regulatory approvals,
including the final approval of 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 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.
Further information on Gensource Potash Corporation can be found at www.gensourcepotash.ca
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 the
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;
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
For further information on Gensource Potash Corporation, please contact:
Gensource Potash Corporation
Mike Ferguson – President & CEO
+1-306-974-6414