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Director Dealing
LONDON, U.K., February 14, 2023 - Gensource Potash Corporation ("Gensource" or the "Company") (TSXV: GSP, AIM: GSP) announces the following transactions by PDMRs in the Company's Common Shares:
Michael Ferguson, Executive Director, acquired 50,000 Common Shares on February 10, 2023, at $0.135 per Common Share and 50,000 Common Shares on February 13, 2023, at $0.135 per Common Share; Alton Anderson, Executive Director, acquired 50,000 Common Shares on February 10, 2023, at $0.14 per Common Share; Michael Mueller, Non-Executive Director, acquired 140,000 Common Shares on February 7, 2023, at $0.14 per Common Share; Amy O'Shea, Non-Executive Director, acquired 100,000 Common Shares on February 13, 2023, at $0.13 per Common Share and Deborah Morsky, Vice-President Corporate Services and Corporate Secretary, acquired 37,000 Common Shares on February 8, 2023, at $0.14 per Common Share.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Michael Ferguson | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Executive Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Gensource Potash Corporation | ||||
| b) | LEI | 213800WAVVOPS85N2205 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Gensource Potash Corp Common Shares
ISIN: CA3725X1042 | ||||
| b) | Nature of the transaction | The acquisition of common shares of no par value each in the Company | ||||
| c) | Price(s) and volume(s)
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| ||||
| d) | Aggregated information
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100,000 | ||||
| e) | Date of the transaction | February 10, 2023 February 13, 2023 | ||||
| f) | Place of the transaction | TSX-V Exchange | ||||
As a result, Michael Ferguson's total beneficial interest in the Company is 17,872,708 Common Shares, representing 3.95percent of the Company's issued share capital.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Alton Anderson | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Executive Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Gensource Potash Corporation | ||||
| b) | LEI | 213800WAVVOPS85N2205 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Gensource Potash Corp Common Shares
ISIN: CA3725X1042 | ||||
| b) | Nature of the transaction | The acquisition of common shares of no par value each in the Company | ||||
| c) | Price(s) and volume(s)
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| ||||
| d) | Aggregated information
|
Same as above | ||||
| e) | Date of the transaction | February 10, 2023 | ||||
| f) | Place of the transaction | TSX-V Exchange | ||||
As a result, Alton Anderson's total beneficial interest in the Company is 1,090,000 Common Shares, representing 0.24 percent of the Company's issued share capital.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Michael Mueller | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Gensource Potash Corporation | ||||
| b) | LEI | 213800WAVVOPS85N2205 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Gensource Potash Corp Common Shares
ISIN: CA3725X1042 | ||||
| b) | Nature of the transaction | The acquisition of common shares of no par value each in the Company | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
|
Same as above | ||||
| e) | Date of the transaction | February 7, 2023 | ||||
| f) | Place of the transaction | TSX-V Exchange | ||||
As a result, Michael Mueller's total beneficial interest in the Company is 1,023,333 Common Shares representing 0.23 percent of the Company's issued share capital.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Amy O'Shea | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Gensource Potash Corporation | ||||
| b) | LEI | 213800WAVVOPS85N2205 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Gensource Potash Corp Common Shares
ISIN: CA3725X1042 | ||||
| b) | Nature of the transaction | The acquisition of common shares of no par value each in the Company | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
|
Same as above | ||||
| e) | Date of the transaction | February 13, 2023 | ||||
| f) | Place of the transaction | TSX-V Exchange | ||||
As a result, Amy O'Shea's total beneficial interest in the Company is 360,000 Common Shares representing 0.08 percent of the Company's issued share capital.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Deborah Morsky | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Vice-President Corporate Services and Corporate Secretary | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Gensource Potash Corporation | ||||
| b) | LEI | 213800WAVVOPS85N2205 | ||||
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument
Identification code | Gensource Potash Corp Common Shares
ISIN: CA3725X1042 | ||||
| b) | Nature of the transaction | The acquisition of common shares of no par value each in the Company | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
|
Same as above | ||||
| e) | Date of the transaction | February 8, 2023 | ||||
| f) | Place of the transaction | TSX-V Exchange | ||||
As a result, Deborah Morsky's total beneficial interest in the Company is 6,686,771 Common Shares representing 1.48 percent of the Company's issued share capital.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).
| For further information on Gensource Potash, please contact:Gensource Potash Corporation |
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| Mike Ferguson - President & CEO | +1-306-974-6414 |
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| Strand Hanson Limited (Nominated & Financial Adviser) | +44 (0) 20 7409 3494 |
| Ritchie Balmer / Rory Murphy / Charles Hammond | |
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| Peel Hunt LLP (Broker) | +44 (0) 20 7418 8900 |
| Ross Allister / David McKeown / Georgia Langoulant |
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| Camarco (Financial PR) | +44 (0) 20 3757 4997 |
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| Gordon Poole / Charlotte Hollinshead / Lily Pettifar | |
For any press enquiries please contact us on gensource@camarco.co.uk
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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