SASKATOON, Saskatchewan--(BUSINESS WIRE)--Gensource Potash Corporation (“Gensource” or the “Company”) (TSX.V: GSP) is extremely pleased to announce that Mike Mueller has joined the board of directors of the Company effective today.
“We are extremely pleased that Mike has agreed to join us as a Director. With Mike’s background in corporate finance and his direct, hands-on experience with new technology start-up companies, Gensource stands to benefit greatly. We have communicated consistently over the years that Gensource is not a typical “junior mining” company, but rather a true start-up... we are here to be a new and independent producer in the potash industry and Mike’s track record of shepherding small companies through the start-up stage to success brings a key skill set to our Board”, said Mike Ferguson, Gensource’s Chairman of the Board and President & CEO.
Mr. Mueller has a B.Sc. From the University of Western Ontario and an MBA in International Finance from York University. His career started in the investment banking industry with TD, culminating as Vice Chairman, Global Investment Banking with TD Bank Financial Group. Moving on from TD, Mike became President and CEO of MDS Capital Corporation, a $1B venture capital firm and from that role moved into creating his own “portfolio” of start-up companies, with which he helped formulate strategic business plans, financings and CEO mentoring and development. In addition, Mike spent 12 years with the Public Service Pension (PSP) Investment Board, ultimately serving as Chairman.
Mike Ferguson further commented, “While new to mining, Mike brings so many key skills to Gensource, such as public company governance, strategic planning, novel start-up appropriate finance strategies, and perhaps most importantly, a positive and forward-looking energy and a deep understanding of the start-up landscape that will help the Company move to the next level, as a potash producer.”
Gensource is based in Saskatoon, Saskatchewan and is focused on developing the next potash production facility in that province. 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 - vertical integration with the market to ensure that all production capacity built is directed to a specific market, eliminating market-side risk; and, technical innovation which will allow for a small and economic potash production facility, while the same time demonstrating significant reductions in community and environmental impact.
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 completion of the definitive offtake agreement on terms as announced or at all, securing project financing on terms which are economic or at all, 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, completion of the definitive offtake agreement on terms as announced or at all, securing project financing on terms which are economic or at all, 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 complete the offtake agreement on terms as announced or at all or to find and source other off-take agreements; the ability to secure project financing on terms which are economic or at all; 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.