SASKATOON, Sept. 21, 2015 /CNW/ - Gensource Potash Corporation ("Gensource" or the "Company") (TSX.V: GSP) is very pleased to announce that Dr. Mark Stauffer will join the board of directors of the Company, effective October 1st, 2015.
Dr. Stauffer is a very well known name in the potash and phosphate fertilizer industry. He attended the University of Guelph where he received his Diploma in Agriculture in 1963, B.Sc. (Agriculture) in 1967, and M.Sc. in 1969, followed by a Ph.D. in Agronomy in 1973 from Virginia Polytechnic Institute & State University (Virginia Tech). His career includes work in Canada and the United States in market development, education, research, and chemical manufacturing and sales.
Following work terms with Agriculture & Agri-Foods Canada, International Harvester, CP Inorganics and CIBA-Geigy (now Novartis), Dr. Stauffer joined Potash & Phosphate Institute (PPI) / Potash & Phosphate Institute of Canada (PPIC) in 1988, becoming President of PPIC in 1994. Throughout his time with PPI/PPIC, Dr. Stauffer focused, both in Canada and Internationally, on Balanced Fertilization principles, the Maximum Yield Research philosophy, and why and how the fertilizer industry can establish Maximum Economic Yield field demonstrations to inform farmers of their yield and income opportunity.
From 2006- 2013, Dr. Stauffer served as a Director of Migao Corporation, a China based specialty potash producer, which trades on the TMX. Additionally, from 2010 – June 2015, Dr. Stauffer served as a Director and Chairman of the Board of Allana Potash Corporation.
Mike Ferguson, Gensource's Chairman of the Board and President & CEO, commented, "We are so pleased to have an individual of Mark's qualifications, experience, integrity and character join us to help us achieve our goals at Gensource. With his unparalleled knowledge and expertise in the fertilizers industry and experience in public company governance, we know Mark will add new dimensions and capability to our board of Directors. We see this as another very positive step in the development of our very unique business model and we welcome Mark to the company."
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
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For further information: Gensource Potash Corporation: Mike Ferguson, President & CEO, Telephone: (306) 974-6414, Email: [email protected]