Shares outstanding 113,567,497
SASKATOON, Saskatchewan / ACCESSWIRE / June 12, 2014 / Gensource Potash Corporation (“Gensource” or the “Company”) (TSX.V: GSP) is pleased to announce the appointment of Mr. Max Ramey, PE, to the Gensource Advisory Board.
Mr. Ramey brings world-class solution mining skills and experience to the Gensource Advisory Board. With Max, the Advisory Board now possesses a complete range of technical and engineering expertise from drilling, mine planning, extraction, processing and business execution that will support Gensource as it implements next-generation mining and processing technology.
Max is a professional engineer with over 29 years’ experience in the solution mining of potash, nahcolite, and sulphur. Max graduated from New Mexico Institute of Mining and Technology with a B.Sc. in both Mining and Geological Engineering. He began his career as a solution mining engineer for the Duval Corporation at the Culberson Frasch sulphur mine where in a period of 12 years, he progressed from an entry level engineer to the Manager of Operations. In 1997, Max accepted a new challenge and joined a team to develop the American Soda nahcolite solution mining operation in western Colorado. Following American Soda, Max worked with Rio Tinto to develop the Potasio Rio Colorado potash project in Argentina. In 2008, Max joined Potash One as Vice President, Solution Mining and assisted in the exploration and development of the Potash One Legacy Project in Southern Saskatchewan. In 2011, the Legacy Project was acquired by the K+S Group of Germany. Since the acquisition, Max has assisted K+S to progress the solution mining at the Legacy Project and most recently has agreed to assist Gensource Potash with their projects.
Mike Ferguson, President & CEO, is quoted as saying that “…Gensource is very pleased to have Max join the company as a member of its Advisory Board. Between the management and Advisory Board of the company, we have re-established the team that was responsible for the success of Potash One and the development of the Legacy project. However,” Ferguson added, “neither time nor technologies stand still and simply aiming to repeat a process is not likely to meet with success. Instead, Gensource will look to not only use the expertise of the team to implement up-to-date technologies in the extraction and processing of potash, but will also use innovative approaches to establishing the new operation – new ways to establish the business and engage the right partners to be part of the enterprise.”
In addition, Gensource is pleased to announce the appointment of Deborah Morsky as Vice President, Corporate Services. Deb has been a key figure in the re-focussing of the company over the past two years, acting not only as the Corporate Secretary, but also as the information and action centre for all of Gensource’s public company disclosure and filing requirements. President & CEO Mike Ferguson indicated, “Deb is a strong organizer and very knowledgeable in corporate and public company matters. This appointment strengthens the company and is another step towards preparing the company to take on the challenges of project development and implementation ahead”
Gensource is based in Saskatoon, Saskatchewan and is focused on developing potash projects in Saskatchewan. Gensource’s President & CEO, Mike Ferguson P.Eng., has assembled a management team with direct and specific experience in potash development. Gensource’s Advisory Board comprises globally-recognized experts on the various aspects of potash drilling, mining and processing technologies and international potash and business development expertise and experience.
For further information please contact:
Gensource Potash Corporation:
Mike Ferguson, President & CEO
Telephone: (306) 974-6414
Email: [email protected]
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking INFORMATION. ThIS forward-looking information relateS to, among other things: the SATISFACTORY COMPLETION OF DUE DILIGENCE BY RAYMOND JAMES: THE ISSUANCE OF COMMON SHARES OF THE COMPANY TO RAYMOND JAMES; the ability of GENCOURCE AND CPC to providing the documents, reports and information required by the TSX-V in connection with the Transaction; and lifting of the current trading halt on the company’s shares by the tsx-v.
This forward-looking information reflects management’s current expectations with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to risks and uncertainties. These assumptions include: conclusion of satisfactory due diligence by Gensource, CPC and Raymond James; the preparation of technical reports and valualtions on properties of CPC that are satisfactory to the TSX-v; the preparation of a sponsorship report BY RAYMOND JAMES that is satisfactory to the TSX-V; the completion of definitive agreements relating to the Transaction; AND the Approval of the transaction by the TSX-V and Gensource’s shareholders. Many factors, both known and unknown, could cause actual results or future events to be materially different from the results or events that are expressed or implied by the forward-looking INFORMATION contained in this News Release. The Company does not intend, and does not assume, any obligation to update this forward-looking information should circumstances or management's expectations, assumptions or opinions change, except as required by law.
Source: Gensource Potash Corporation