Gensource Potash Corporation PDMR Dealing (1798H)

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RNS Number : 1798H

Gensource Potash Corporation

26 July 2023

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Gensource Potash Announces PDMR Dealing

SASKATOON, Saskatchewan and London, U.K. - July 26, 2023 - Gensource Potash Corporation ("Gensource" or the "Company") (AIM/TSXV: GSP), a fertilizer development company focused on sustainable potash production, announces the transactions below by a PDMR in the Company's Common Shares.

Robert Theoret, Vice-President Finance & Business Development, acquired 50,000 Common Shares on July 21, 2023, at $0.10 per Common Share and 20,500 Common Shares on July 25, 2023 at $0.105 per Common Share.

 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                      Robert Theoret 
     --------------------------------------------------------  ------------------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------------------------------------------------- 
 a)   Position/status                                           Vice-President Finance & Business Development 
     --------------------------------------------------------  ------------------------------------------------------- 
 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          G ensource Potash Corp Common Shares 
      instrument 
 
      Identification code                                        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)                                    Price    Volume 
                                                                 $0.10    50,000 
                                                                  $0.105   20,500 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information-  Aggregated volume 
       -  Price                                                   Same as above. 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction 
                                                                  July 21, 2023 
 
                                                                  July 25, 2023 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  TSX-V Exchange 
     --------------------------------------------------------  ------------------------------------------------------- 
 

As a result, Robert Theoret's total beneficial interest in the Company is 10,284,583 Common Shares, representing 2.31 percent of the Company's issued share capital.

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 &         [phone] 
  Financial Adviser)                         3494 
 Ritchie Balmer / Rory Murphy / Charles 
  Hammond 
 
                                            [phone] 
 Peel Hunt LLP (Broker)                      8900 
 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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July 26, 2023 02:00 ET (06:00 GMT)