Gensource Announces Shareholder Meeting Results, Q1 Results and New Independent Board Chair
31 Mai 2022 - 8:00AM
Business Wire
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Gensource Potash Corporation (“Gensource” or the “Company”)
(TSXV: GSP, AIM: GSP) is pleased to announce the results of its
annual general and special meeting (“AGSM”) of shareholders held on
May 27, 2022. At the meeting Gensource shareholders:
- Re-elected Alton Anderson, Michael Ferguson, Stephen Dyer,
Michael Mueller, Amy O’Shea and Calvin Redlick to the Board of
Directors;
- Re-appointed MNP, LLP, Chartered Accountants, as auditor of the
Company;
- Approved the Amended and Restated Stock Option Plan;
- Re-approved the Shareholders Right Plan
- Approved the continuance of the Company from the Business
Corporations Act (Ontario) to The Business Corporations Act
(Saskatchewan)
Holders of 168,847,361 shares (representing 40.098 %) of the
outstanding shares of the Company) were “present” at the virtual
web-based AGSM or by proxy and voted online or at the meeting.
Appointment of Stephen Dyer as Non-Executive Board
Chair
Following the AGSM, the Board of Directors met to approve Mr.
Stephen Dyer as Non-Executive Board Chair of the Company and
re-appoint the officers of the Company as follows:
- Board Chair – Stephen Dyer
- President & CEO – Michael Ferguson
- Chief Financial Officer - Alton Anderson
- Vice-President Finance & Business Development – Robert
Theoret
- Vice-President Corporate Services and Corporate Secretary –
Deborah Morsky
Gensource is very pleased to announce the appointment of Stephen
Dyer as Chair of the Company. It was the intent of the company,
when Steve joined the Board a year ago, that he would transition
into the Board Chair role and his appointment now is the
culmination of that plan, another step in the Company’s transition
towards becoming North America’s next fertilizer producer. In his
role as Chair, Steve will apply his deep experience in corporate
governance and expertise in the fertilizer industry to help guide
and grow the company. His appointment as Board Chair leverages this
significant strength, not only because of his experience and
industry knowledge, but also in marking the transition to an
independent Board Chair - a key tenant of good corporate
governance. Now is the time to make this change as Gensource is on
the cusp of moving its first project into construction and
ultimately operation.
Q1 2022 Financial Results
Gensource also announces that it has released its Financial
Statements and Management’s Discussion and Analysis for the period
ending March 31, 2022. The reports will be available under the
Company’s profile on SEDAR (www.sedar.com) and on the Company’s
website
(https://gensourcepotash.ca/financials-and-presentations/).
Further information on Gensource Potash Corporation can be found
at www.gensourcepotash.ca Follow us on twitter
@GensourcePotash
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 modular and economic potash
production facility, that demonstrates environmental leadership
within the industry, producing no salt tailings, therefore
eliminating decommissioning risk, and requiring no surface brine
ponds, thereby removing the single largest and negative
environmental aspect of potash mining.
Neither the 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 of this release.
Caution Regarding Forward-Looking
Statement
This news release may contain forward looking information and
Gensource cautions readers that forward- looking information is
based on certain assumptions and risk factors that could cause
actual results to differ materially from the expectations of
Gensource included in this news release. This news release includes
certain “forward-looking statements”, which often, but not always,
can be identified by the use of words such as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. These statements are based on information
currently available to Gensource and Gensource provides no
assurance that actual results will meet management’s
expectations.
Forward looking statements include estimates and statements with
respect to Gensource’s future plans, objectives or goals, to the
effect that Gensource or management expects a stated condition or
result to occur, including any offering of securities by Gensource.
Since forward-looking statements are based on assumptions and
address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results could
differ materially from those currently anticipated in such
statements for many reasons such as: failure to finance the Tugaske
Project or other projects on terms which are economic or at all;
failure to settle a definitive joint venture agreement with a party
and advance and finance the Tugaske Project; changes in general
economic conditions and conditions in the financial markets; the
ability to find and source off-take agreements; changes in demand
and prices for potash; litigation, legislative, environmental and
other judicial, regulatory, political and competitive developments;
technological and operational difficulties encountered in
connection with Gensource’s activities; an inability to predict and
counteract the effects of COVID-19 on the business of Gensource,
including but not limited to the effects of COVID-19 on the price
of commodities, capital market conditions, restriction on labour
and international travel and supply chains, failure to obtain
required regulatory approvals; and other matters discussed in this
news release and in filings made with securities regulators. This
list is not exhaustive of the factors that may affect any of
Gensource’s forward-looking statements. These and other factors
should be considered carefully, and readers should not place undue
reliance on Gensource’s forward-looking statements. Gensource does
not undertake to update any forward-looking statement that may be
made from time to time by Gensource or on its behalf, except in
accordance with applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20220530005427/en/
Gensource Potash Corporation Mike Ferguson – President
& CEO +1-306-974-6414
Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / Rory Murphy / Charles Hammond +44 (0) 20 7409
3494
Peel Hunt LLP (Broker) Ross Allister / David McKeown /
Georgia Langoulant +44 (0) 20 7418 8900
Camarco (Financial PR) Gordon Poole / Charlotte
Hollinshead / Lily Pettifar +44 (0) 20 3757 4997
For any press enquiries please contact us on
gensource@camarco.co.uk
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