Business
Gensource Provides General Business Update
Gensource Provides General Business Update Gensource Provides General Business Upd...
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\nGensource Provides General Business Update\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 Provides General Business Update\nCanada NewsWire\nSASKATOON,, March 17, 2016\n\n\n\nSASKATOON,, March 17, 2016 /CNW/ - Gensource Potash Corporation (\"Gensource\" or the \"Company\") (TSX.V: GSP) is pleased to provide the following information on its activities.  The intent is to give a general update on its business activities for the last quarter of 2015 and the first quarter of 2016. \n\nThe last quarter of 2015 and first quarter of 2016 has been a busy time at Gensource. In that period, we worked with our Brazilian partner to identify additional end-user market partners – agricultural groups in Brazil who will be the future customers for our potash.  We also advanced similar business discussions with other geographically diverse groups. Additionally, during that period, we raised over $2M (split almost equally between \"hard\" shares and \"flow through\" shares) to execute our immediate business plan. The flow through investment will be used for follow-on drilling and seismic work (\"Canadian Exploration Expenditures\") and the \"hard\" dollars raised will be used for advancing project development, including engineering work, initial phase environmental assessment and general working capital (see Gensource news releases dated 28Dec2015 and 04Nov2015).\n\nManagement continues to introduce and explain our vertical integration strategy to other large agricultural producer groups and/or retailers and, from that perspective, build the complement of business partner relationships required for the supply of potash fertilizers. These include businesses such as well-organized farmer co-operatives and logistics groups with their essential infrastructure for product storage and transport. We are working with both new contacts as well as our existing partner.\n\nGensource's business plan is one that capitalizes on the flux in price/supply/demand volatility that characterizes what's happening in the world-wide potash business to directly connect pota...