- Gensource Potash Corporation (GSP) has announced a non-brokered private placement for gross proceeds of up to $6,000,000.00
- The offering will consist of units and flow-through shares
- Net proceeds from the sale of the units will be used to advance the Tugaske Project
- Proceeds from the flow-through shares will be used to develop a second project within the Vanguard Area
- Gensource is a fertilizer development company based in Saskatoon
- Gensource Potash Corp. (GSP) opened trading at C$0.155
Gensource Potash Corporation (GSP) has announced a non-brokered private placement for gross proceeds of up to $6,000,000.00.
The offering will consist of: up to 20,000,000 units for gross proceeds of up to $3,000,000 and up to 15,000,000 flow-through common shares for gross proceeds of up to $3,000,000.
Each unit will include one common share and one share purchase warrant. Each warrant will be exercisable for one additional common share at an exercise price of $0.30 for two years.
Net proceeds from the sale of the units will be used to advance the Tugaske Project. Proceeds from the sale of the flow-through shares will be used to further expand resource definition on KL244 and KL245 and to initiate resource definition work on SMP200, all with an aim of developing a second project within the Vanguard Area.
All securities issued will be subject to a statutory four-month hold period.
Gensource is a fertilizer development company based in Saskatoon and is on track to become the next fertilizer production company in that province.
Gensource Potash Corp. (GSP) opened trading at C$0.155.