SASKATOON, Saskatchewan, June 23, 2025 –Gensource Potash Corporation (“Gensource” or the “Company”) (TSXV: GSP), a fertilizer development company focused on sustainable potash production, announces an extension to the maturity date of each of the 5% convertible debentures of the Company (the “Debentures”) issued on October 19, 2021 in the principal amount of $2,000,000, from June 30, 2025 to June 30, 2026 (the “Debenture Amendments”). All other terms remain the same.
Certain directors, former directors and officers of the Company are holders of Debentures, holding a total of $1,995,000 principal amount of Debentures.) The Debenture Amendments are deemed to be “related party transactions” as defined under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the formal valuation and minority approval requirements for related party transactions pursuant to Subsection 5.5(a) and Subsection 5.7(a) of MI 61-101, respectively.
The Debenture Amendments remain subject to receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.