Gensource Announces Brokered Private Placement for up to $6,000,000

Gensource logo, potash

Gensource Potash Corporation (TSX.V: GSP) is pleased to announce that it has engaged Industrial Alliance Securities Inc. (IA) as sole agent in connection with a proposed best efforts marketed private placement for gross proceeds of up to $6,000,000 (the Offering). The Offering will consist of the sale of up to 11,111,111 common shares in the capital stock of the Company (the Common Shares) at a price of $0.18 per Common Share, for gross proceeds of up to $2,000,000, and up to 20,000,000 Common Shares issued on a flow-through basis (the Flow-Through Shares) for gross proceeds of up to $4,000,000 at a price of $0.20 per Flow-Through Share. In addition, the Company has also granted IA an option (the Agents Option), exercisable up to 72 hours prior to the closing of the Offering, to cause the Company to issue up to an additional $900,000 (15%) of the maximum of the Offering in Common Shares and/or Flow-Through Shares. read more

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