Source - LSE Regulatory
RNS Number : 5798T
Gensource Potash Corporation
25 July 2022
 

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

 

Director Dealing  

 

LONDON, U.K., July 25, 2022 - Gensource Potash Corporation ("Gensource" or the "Company") (TSXV: GSP, AIM: GSP) announces the following transactions:  Michael Ferguson, Executive-Director, acquired 40,000 Common Shares on July 22nd, 2022 at $0.19 per Common Share; Alton Anderson, Executive -Director, acquired 40,000 Common  Shares on July 22, 2022, at $0.185 per Common Share and Michael Mueller, Non-Executive Director, acquired, in aggregate, 50,000 Common Shares on July 22nd, 2022, at a weighted average price of $0.1868 per Common Share.

As a result, Michael Ferguson's total beneficial interest in the Company is 17,772,708 Common Shares, representing 4.2 percent of the Company's issued share capital.

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Michael Ferguson

2

Reason for the notification

a)

Position/status

Executive Director

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

 

Identification code

Gensource Potash Corp Common Shares

 

 

ISIN:  CA3725X1042

b)

Nature of the transaction

The acquisition of common shares of no par value each in the Company

c)

Price(s) and volume(s)

 

Price

Volume

$0.19

40,000

d)

Aggregated information

-

Aggregated volume

-

Price

 

Same as above

e)

Date of the transaction

July 22nd, 2022

f)

Place of the transaction

TSX-V Exchange

 

As a result, Alton Anderson's total beneficial interest in the Company is 1,040,000 Common Shares, representing 0.2 percent of the Company's issued share capital.

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Alton Anderson

2

Reason for the notification

a)

Position/status

Executive Director

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

 

Identification code

Gensource Potash Corp Common Shares

 

 

ISIN:  CA3725X1042

b)

Nature of the transaction

The acquisition of common shares of no par value each in the Company

c)

Price(s) and volume(s)

 

Price

Volume

$0.185

40,000

d)

Aggregated information

-

Aggregated volume

-

Price

 

Same as above

e)

Date of the transaction

July 22nd, 2022

f)

Place of the transaction

TSX-V Exchange

 

As a result, Michael Mueller's total beneficial interest in the Company is 883,333 Common Shares representing 0.2 percent of the Company's issued share capital.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Michael Mueller

2

Reason for the notification

a)

Position/status

Non-Executive Director

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

 

Identification code

Gensource Potash Corp Common Shares

 

 

ISIN:  CA3725X1042

b)

Nature of the transaction

The acquisition of common shares of no par value each in the Company

c)

Price(s) and volume(s)

 

Price

Volume

$0.185

$0.19

32,000

18,000

 

d)

Aggregated information

-

Aggregated volume

-

Price

 

50,000

$0.1868

e)

Date of the transaction

July 22nd, 2022

f)

Place of the transaction

TSX-V Exchange

 

 

 

 

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 further information on Gensource Potash, please contact:

 

Gensource Potash Corporation

 

Mike Ferguson - President & CEO

+1-306-974-6414

 

 

Strand Hanson Limited (Nominated & Financial Adviser)

+44 (0) 20 7409 3494

Ritchie Balmer / Rory Murphy / Charles Hammond


 

 

Peel Hunt LLP (Broker)

+44 (0) 20 7418 8900

Ross Allister / David McKeown / Georgia Langoulant

 


 

Camarco (Financial PR)

+44 (0) 20 3757 4997

 


Gordon Poole / Charlotte Hollinshead / Lily Pettifar


 

For any press enquiries please contact us on gensource@camarco.co.uk

 

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.

 

 

 

 

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