SASKATOON, Sept. 21, 2016 /CNW/ - Gensource Potash Corporation ("Gensource" or the "Company") (TSX.V: GSP) is pleased to announce that Mr. Paul Neufeld, P.Eng., joined the company effective September 15, 2016. Paul will assume the role of Project Manager with overall responsibility for executing the feasibility study for the first small scale project at Gensource's Vanguard area.
Mr. Neufeld has 11 years of practical project experience as a project manager, project engineer, risk analyst, structural engineer, and construction coordinator, primarily focusing on heavy industrial projects for the potash, uranium, and other mining sectors in Saskatchewan. Prior to joining Gensource, Paul was a partner and Vice President at ENGCOMP Engineering Computing & Professionals Inc., a private engineering consulting firm in Saskatoon where he supervised operations, business development, and the financial and accounting aspects of the company. Additionally, Paul filled roles in project management, capital cost estimating, planning and scheduling, risk and decision analysis, and quantitative modelling. Over the course of his career as a project manager, Paul has directed and led many multi-disciplined brownfield and greenfield mining projects, of varying size and scope. Paul brings with him a natural energy and ability to get things organized and get things done.
Paul is a registered Professional Engineer, holding a B.Sc. with Great Distinction in Civil Engineering. He is currently finishing his MBA, rounding out his training in line with his substantial business building experience. Mr. Neufeld also continues to actively be involved with the University of Saskatchewan and its College of Engineering, specifically as a sessional lecturer on Project Management for 4th year students. He is also a member of the College of Engineering Project Management Task Force, which is established to assess and advance the inclusion of project management education into the undergraduate curriculum. Paul is actively involved in his professional community, as a member of the Canadian Institute of Mining and Metallurgy (CIM), the Association for the Advancement of Cost Engineering International (AACEI), and the local chapter of the Project Management Institute (PMI). Paul also takes part in the Saskatoon Young Professionals and Entrepreneurs (SYPE) network, and is a founding board member of the Young Professionals Group of the Association of Consulting Engineering Companies in Saskatchewan (ACEC-SK).
Mike Ferguson, Gensource's Chairman of the Board and President & CEO, commented, "We are excited to welcome Paul to Gensource. With his strong background in project management coupled with his practical experience on executing real projects in the potash industry, Paul will add tremendous value to Gensource and its projects – starting with the feasibility study planned for kick off in the next weeks, and extending into the future as Gensource prepares to moves its unique projects, step by step, into production. Further, by adding Paul to the group, Gensource Potash is deliberately sending a signal that our projects will be developed according to our business plan and model: vertically integrated; sized to fit partner-customer requirements, and; innovative in mining and processing technologies. Paul will be instrumental in helping Gensource begin its move towards 'Potash 2.0' "
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
For further information: Gensource Potash Corporation: Mike Ferguson, President & CEO, Telephone: (306) 974-6414, Email: [email protected]