Gensource Potash Announces Closing Of The First Tranche Non-Brokered Private Placement

Gensource Potash (TSXV:GSP) announced that it has completed tranche one of its previously announced non-brokered private placement financing. Tranche one of the Offering consisted of the sale of 24,910,285 units at $0.07 per Unit for aggregate gross proceeds of $1,743,720.00. Tranche two of the Offering is expected to close within the next 10 days.

The net proceeds from the sale of the Units will be applied to acquisition cost of the mineral leases from Yancoal Canada Resources Co. Ltd. as announced on April 6, 2016, to advance project work in Gensource’s Vanguard Project Area and for general working capital purposes.

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