Gensource Potash Arranges $3.5-million Private Placement

Gensource Potash (TSXV:GSP) announced it has arranged a non-brokered private placement that it will use to advance the development of the Lazlo project.
As quoted in the press release:

To complete a resource confirmation program, comprising drilling and 3-D seismic over the planned Lazlo mining area, Gensource will require $3-million, to be expended on Canadian exploration expense (CEE) activities (drilling and 3-D seismic), plus an additional $500,000 to be expended on non-CEE expenses (expenses peripheral to the drilling and seismic, as well as general working capital) over the coming months. On that basis, a non-brokered private placement will be initiated for these amounts, made up of flow-through shares (FT shares) and non-flow-through shares (HD shares).

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