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Gensource Announces Non-Brokered Private Placement
Gensource Announces Non-Brokered Private Placement Gensource Announces Non-Brokere...
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\nGensource Announces Non-Brokered Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGensource Announces Non-Brokered Private Placement\nCanada NewsWire\nSASKATOON, April 21, 2016\n\n\n\nSASKATOON, April 21, 2016 /CNW/ - Gensource Potash Corporation (\"Gensource\" or the \"Company\") (TSX.V: GSP) is pleased to announce a non-brokered private placement of up to 21,478,572 Units at $0.07 per Unit for gross proceeds of approximately $1.5 million.\n\nThe proceeds of the financing will be applied to acquire mineral leases from Yancoal Canada Resources Co. Ltd. (\"YCR\") as announced on April 6, 2016, and for general working capital.\n\nEach whole Unit will consist of one (1) common share and one-half (1/2) common share purchase warrant (\"Warrant\"). Each whole Warrant will entitle the holder to acquire an additional common share at a price of $0.12 for a period of twenty-four (24) months after closing. \n\nThe Offering is subject to regulatory approval, and all securities issued in conjunction with the Offering will be subject to a four-month statutory hold period. The Company may pay finder's fees in accordance with the rules of the TSX Venture Exchange.\n\nAbout Gensource\n\nGensource is based in Saskatoon, Saskatchewan and is focused on developing the next potash production facility there. Gensource's President and CEO, Mike Ferguson, P.Eng., has assembled a management and technical team with direct and specific expertise and experience in potash development in Saskatchewan.\n\nGensource operates under a business plan that has two key components - vertical integration with the market to ensure that all production capacity built is directed to a specific market, eliminating market-side risk; and, technical innovation which will allow for a small and economic potash production facility, the output of which can then be directed to that single, specific market.\n\nNeither 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 ...