- Gensource Potash Corporation (GSP) has closed a non-brokered private placement of units and flow-through common shares
- Under the first tranche, the company issued 2,400,000 FT shares for gross proceeds of $480,000.00
- Under the second tranche, the company issued 11,969,998 units for gross proceeds of $1,795,499.70
- Net proceeds from the sale of the units will be used to advance the Tugaske Project
- Gensource is a fertilizer development company based in Saskatoon
- Gensource Potash Corp. (GSP) opened trading at C$0.135
Gensource Potash Corporation (GSP) has closed its previously announced non-brokered private placement of units and flow-through common shares.
Under the first tranche of the offering, which closed on December 31, 2022, the company issued 2,400,000 FT shares for gross proceeds of $480,000.00.
Under the second tranche, the company issued 11,969,998 units for gross proceeds of $1,795,499.70. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for one additional common share for a period of 24 months.
Commissions totalling $27,300 and 157,000 non-transferable warrants were paid to eligible finders.
Proceeds will be used to advance the Tugaske Project and for general working capital purposes.
All securities issued are subject to a statutory hold period expiring May 27, 2023.
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 Corporation (GSP) opened trading at C$0.135.