SASKATOON, Saskatchewan--(BUSINESS WIRE)--Gensource Potash Corporation (“Gensource” or the “Company”) (TSX.V: GSP). Today, Gensource announces the retirement of a long-time director, Dr. Mark Stauffer.
Mark joined the board of Gensource in October of 2015, and has been a valuable and steady advisor to the Company since. Mark’s rich background in agriculture and special expertise in fertilizers and balanced fertilization practices have been a real strength for the company as it sought out the right markets and right partners within the fertilizer industry. The Company has a standing age restriction policy, making those who have reached the age of 75 ineligible for nomination as a director. Mark, having reached that milestone, is retiring now to make room for new directors in the future. Gensource will miss the experienced input that Mark has provided, and thanks Mark for all his work and dedication. The Company will work to continue adding directors with specific skill sets required as the Company grows into its future of being a fertilizer manufacturing entity.
Mike Ferguson, Gensource’s President & CEO, commented, “We are thankful to Mark for his contributions and guidance over the past almost three years, during which time the Company really established itself as a credible potential new potash producer based on its fundamental business plan. Mark’s insights and ability to work within the group helped Gensource accomplish what is has to date. Thank you, Mark, and all the best in retirement!”
Gensource is based in Saskatoon, Saskatchewan and is focused on developing the next potash production facility in that province – but with a fundamentally different approach. Gensource’s President and CEO, Mike Ferguson, P.Eng., has assembled a management and technical team with direct and specific expertise and experience in potash development in Saskatchewan.
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 to a specific market, eliminating market-side risk; and (2) technical innovation which will allow for a small and economic potash production facility, which is much friendlier to the environment and less expensive and time consuming to construct and operate - the output of which can then be directed to the identified specific market.
Neither 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 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 the establishment of vertical integration partnerships and the sourcing of end use potash purchasers. 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 relating to Gensource’s financial condition and prospects, the ability to establish viable vertical integration partnerships and the sourcing of end use potash purchasers could differ materially from those currently anticipated in such statements for many reasons such as: failure to settle a definitive joint venture agreement with a party and advance and finance the 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.