Gensource Potash Corp (GSP)

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TSXV-LISTED GENSOURCE PROVIDES UPDATE ON ITS VANGUARD POTASH CORP JOINT VENTURE
1 HOUR AGO BY

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10:00 AM EDT, 10/03/2017 (MT Newswires) -- Gensource Potash Corporation (GSP.V) shares have plunged after the company announced that it's JV Shareholder Agreement, the Vanguard JV is null and void after funding requirements were not met.

Gensource and EGME signed a shareholder agreement to create the Vanguard JV on April 4, 2017. The purpose of the JV was to finance, construct and operate a new potash production facility in Saskatchewan located on Gensource's wholly owned subsurface mineral lease KL 245.

Gensource said it remains amenable to a JV with EGME in the future if acceptable terms and conditions can be agreed upon and executed. Gensource also announced that it is poised and ready to advance the Vanguard One project, the initial project for which a detailed feasibility study has been completed.

Gensource's shares were recently down 25% at $0.09.

Price: 0.09, Change: -0.03, Percent Change: -25