GENSOURCE ANNOUNCES EXECUTION OF SHAREHOLDER AGREEMENT FOR ITS VANGUARD POTASH CORP JOINT VENTURE WITH ESSEL GROUP ME

Gensource logo, potash

Gensource Potash Corporation (TSX.V: GSP) announce it has executed a shareholder agreement (Shareholder Agreement) with Essel Group ME Limited (EGME) to create a joint venture company, Vanguard Potash Corp. (JV or Vanguard), pursuant to the memorandum of understanding between the two parties announced on November 29, 2016.
The purpose of the JV is the construction and operation of the new Vanguard potash production facility in Saskatchewan, which will bring together technical innovation, management expertise, international logistics and capital.
Gensources President & CEO, Mike Ferguson, said: This is the most significant milestone for Gensource to date. Our investors are aware that Gensources business plan has been to create a joint venture with a strategic partner who can bring the required financing and commercial expertise to the project. Initially the JV will complete the feasibility study on Phase One of the Vanguard Project before beginning construction of the first Gensource modular small-scale facility with production capacity of 250,000 tonnes/year. read more

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