SASKATOON, Aug. 22, 2016 /CNW/ - Gensource Potash
Corporation ("Gensource" or the "Company")
(TSX.V: GSP) is very pleased to announce that Mr.
Dwayne Dahl, CPA, CA, joined
the board of directors of the Company effective today -
August 22, 2016.
Mr. Dahl joins Gensource bringing 25 years of experience in the
potash and fertilizer industry through his participation in
increasingly senior positions at Canpotex Limited, including the
last 16 years as CFO / Senior Vice President and Treasurer. During
his tenure at Canpotex, the potash marketing and logistics export
company formed by the Saskatchewan
potash producers, he acted as director of all of its marketing,
ocean transportation, terminaling, railcar and leasing
subsidiaries. During his time at Canpotex he was directly involved
in the managing the vision of growing Canpotex's sales of potash
from 4 million to an excess of 10 million metric tonnes and a
ten-fold increase in gross revenues to a high of $4 billion in annual revenues.
Prior to joining Canpotex Mr. Dahl was actively engaged as a
farmer, business owner and principal in the Chartered Accountant
firm, Androsoff and Dahl. He attended the University of Saskatchewan in Saskatoon where he earned degrees from the
College of Commerce and the College of Arts and Science.
Following university he articled with the international CA
firm, Touche Ross & Company, a
predecessor of Deloitte & Touche.
During his business career, Mr. Dahl has been active in many
community, business and professional activities. Current
commitments include acting as a director of the Saskatoon Club, the
Dean's Circle of the Edwards School of Business, University of Saskatchewan and a member of the
discipline committee of the Saskatchewan Institute of Chartered
Professional Accountants. Previous commitments have included
board positions with the Alzheimer Society of Saskatchewan and St.
Paul's Hospital where he also acted as committee chairman,
President of the Saskatoon branch
of the Treasury Management Association of Canada as well as serving on and chairing a
number of committees of the Institute of Chartered Accountants of
Saskatchewan.
Mike Ferguson, Gensource's
Chairman of the Board and President & CEO, commented, "We are
extremely pleased to have an individual of Mr. Dahl's
qualifications, experience, integrity and character join us to
support us in achieving our goals at Gensource. With
his unparalleled knowledge and expertise in the potash industry and
experience in financing major capital projects, we know Dwayne will
add new dimensions and capability to our Board of Directors.
Dwayne's appointment is consistent with our vision to build a
Saskatchewan- and potash-focused
Board of Directors to help the company succeed in its business
plans. We see this as another milestone step in the
development of our very unique business model and we welcome Dwayne
to the company".
About Gensource
Gensource is based in Saskatoon,
Saskatchewan and is focused on developing the next potash
production facility in that province. Gensource's President and
CEO, Mike Ferguson, P.Eng., has
assembled a management and technical team with direct and specific
expertise and experience in potash development in Saskatchewan.
Gensource operates under a business plan that has two key
components - vertical integration with the market to ensure that
all production capacity built is directed to a specific market,
eliminating market-side risk; and, technical innovation which will
allow for a small and economic potash production facility,
the output of which can then be directed to a single, specific
market.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release may contain forward looking information and
Gensource cautions readers that forward looking information is
based on certain assumptions and risk factors that could cause
actual results to differ materially from the expectations of
Gensource included in this news release. This news release includes
certain "forward-looking statements", which often, but not always,
can be identified by the use of words such as "believes",
"anticipates", "expects", "estimates", "may", "could", "would",
"will", or "plan". These statements are based on information
currently available to Gensource and Gensource provides no
assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements with
respect to Gensource's future plans, objectives or goals, to the
effect that Gensource or management expects a stated condition or
result to occur, including the expected timing for release of a
resource estimate and a preliminary economic assessment, as well as
a feasibility study, and the establishment of vertical integration
partnerships and the sourcing of end use potash purchasers. Since
forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results relating to, among
other things, results of exploration, the economics of processing
methods, project development, reclamation and capital costs of
Gensource's mineral properties, Gensource's financial condition and
prospects, the ability to establish viable vertical integration
partnerships and the sourcing of end use potash purchasers, could
differ materially from those currently anticipated in such
statements for many reasons such as: changes in general economic
conditions and conditions in the financial markets; the ability to
find distributors and source off-take agreements; changes in demand
and prices for potash; litigation, legislative, environmental and
other judicial, regulatory, political and competitive developments;
technological and operational difficulties encountered in
connection with Gensource's activities; and other matters discussed
in this news release and in filings made with securities
regulators. This list is not exhaustive of the factors that may
affect any of Gensource's forward-looking statements. These and
other factors should be considered carefully and readers should not
place undue reliance on Gensource's forward-looking statements.
Gensource does not undertake to update any forward-looking
statement that may be made from time to time by Gensource or on its
behalf, except in accordance with applicable securities
laws.
SOURCE Gensource Potash Corp