Completion of Nominated Adviser Due Diligence

Gensource Potash Corporation

25 May 2023

 

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Completion of Nominated Adviser Due Diligence

SASKATOON, Saskatchewan and London, U.K.- May 25, 2023 - Gensource Potash Corporation ("Gensource" or the "Company") (AIM/TSX-V: GSP), a fertilizer development company focused on sustainable potash production, is pleased to announce that, further to its announcement on 4 May 2023, Strand Hanson Limited, the Company's Nominated Adviser, has confirmed that it has completed its due diligence on Wayne Brownlee pursuant to the AIM Rules for Companies.

Further information on Wayne Brownlee's appointment:

The following details in relation to the appointment of Wayne Brownlee are disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules for Companies:

Wayne Richard Brownlee (aged 70) has held the following directorships and/or partnerships in the past five years.

Current Directorships/Partnerships	Past Directorships/Partnerships (last five years)
Wanuskewin Heritage Park Authority	Saskatoon Community Foundation
Saskatoon Public Schools Foundation	White Springs Agricultural Chemicals, Inc*
The Brownlee Family Foundation Inc	PCS Phosphate Company, Inc*
	PCS Sales (USA), Inc*
	PCS Administration (USA), Inc*
	PCS Nitrogen Payroll Corporation* (formerly Arcadian Payroll Corporation)
	PCS Nitrogen Fertilizer Operations, Inc*
	PCS Nitrogen Ammonia Terminal Corporation*
	PCS Sales (Canada), Inc*
	Potash Corporation of Saskatchewan Transport Limited*
	8727856 Canada Inc*

*Subsidiaries of Potash Corporation of Saskatchewan Inc. ("PotashCorp"), which Mr. Brownlee resigned from during 2018.

Pursuant to the Company's 9 May 2023 announcement, Mr Brownlee holds 1,000,000 stock options, granted at an exercise price of $0.125 with a term of 5 years.

There is no further information to be disclosed in relation to Wayne Brownlee's appointment pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

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.

For further information on Gensource Potash, please contact:

Gensource Potash Corporation
Mike Ferguson - President & CEO	[phone]
Strand Hanson Limited (Nominated & Financial Adviser)	[phone]
Ritchie Balmer / Rory Murphy / Charles Hammond
Peel Hunt LLP (Broker)	[phone]
Ross Allister / David McKeown / Georgia Langoulant

For any press enquiries please contact Gensource at 306-974-6414.

Further information on Gensource Potash Corporation can be found at www.gensourcepotash.ca

Follow us on twitter @GensourcePotash

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 Statements

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 the 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; 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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