Gensource Announces First Closing of up to $6,000,000 Private Placement

Gensource logo, potash

Gensource Potash Corporation (TSX.V: GSP) announces today it has completed tranche one of the up to $6 million private placement financing (the “Offering”). The Offering consisted of the sale of 1,634,110 common shares of the Company (the “Common Shares”) at a price of $0.18 per Common Share and 8,870,000 flow-through shares (the “Flow-Through Shares”, and together with the Common Shares, the “Offered Securities”) at a price of $0.20 per Flow-Through Share, for aggregate gross proceeds of $2,068,140. The Flow-Through Shares are “flow-through shares” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). Tranche two of the Offering is expected to close on or before June 29, more

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