Gensource Potash Corporation (AIM/TSXV: GSP), a fertilizer development company focused on sustainable potash production, announces that certain consultants to the company have exercised previously issued stock options for gross proceeds of $98,500.
500,000 options were exercised at a price of $0.18 and 50,000 options were exercised at a price of $0.17. Accordingly, in aggregate, 550,000 new common shares have been issued.
Admission to trading on AIM and TVR
Application will be made for admission of the 550,000 new common shares, which will rank pari passu with existing common shares, to trading on AIM (“Admission”). It is expected that the Admission will become effective, and trading will commence at 8.00 am on December 13, 2021.
Following Admission, the company’s total issued share capital will consist of 418,738,995 common shares of no par value. For the purposes of the disclosure guidance and transparency rules, the total number of voting rights in the company will be 418,738,995. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the company under the UK’s Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
Further information on Gensource Potash Corporation can be found at www.gensourcepotash.ca.
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 small and economic potash production facility, that demonstrates environmental leadership within the industry by using significantly less water per tonne compared to conventional solution mining operations, producing no salt tailings, therefore eliminating decommissioning risk, and requiring no surface brine ponds, thereby removing the single largest negative environmental impact of potash mining.
