Gensource Potash Corporation announced a proposed best efforts, non-brokered private placement of up to 4,666,666 units of the company at a price of CAD 0.15 per unit for gross proceeds of up to CAD 700,000 on September 28, 2023. Each unit shall consist of one common share and one common share purchase warrant of the company. Each warrant will be exercisable for one common share at an exercise price of CAD 0.30 per warrant share for a period of 24 months following the date of issuance.

The securities to be issued pursuant to the transaction will be subject to a statutory four month and one day hold period from the date of issuance. It is anticipated that some or all of the subscribers in the transaction will be insiders of the company. The transaction is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including that of the TSX Venture Exchange.