Gensource Potash Announces First Closing of Private Placement Offering of Units

• On 2026‑04‑09 Gensource Potash Corp. completed the first closing of a private placement, issuing 9,598,500 units at $0.15 per unit for gross proceeds of $1,439,775.
• Each unit consists of one common share and one warrant (exercise price $0.25, 18‑month term) subject to a four‑month statutory hold period and a possible call if the TSX‑V price stays ≥ $0.30 for ten consecutive trading days.
• Net proceeds are earmarked to:
• Fund the announced Southeast Asian partnership activities,
• Advance work toward a Final Investment Decision (FID) on the Tugaske potash project, and
• Cover general corporate purposes.
• Finder compensation is 6 % of gross proceeds in cash plus broker warrants equal to 6 % of units sold.
• A second closing is expected shortly; the first closing remains subject to TSX‑V approval.

• Cash infusion: $1.44 M is modest but meaningful for a company with cash of C$63,343 at year‑end 2024 and ongoing operating losses. It improves liquidity enough to keep the technical update and partnership work moving without immediate additional financing.
• Capital structure: The issuance adds ~9.6 M new shares (dilution) plus warrants that could further dilute if exercised, but the price call feature caps upside dilution risk.
• Strategic momentum: Funding directly supports the Technical Update and FID pathway already highlighted in February‑March 2026 releases. It confirms that the Southeast Asian partner remains engaged and willing to finance early‑stage work.
• Market reaction: The share price has risen from $0.07 (early 2025) to $0.16 (early April 2026), indicating the market views the financing as a positive step, though the amount is not large enough to be deemed “game‑changing.”
• Conclusion on materiality: The news is materially positive in that it provides needed cash and validates partner commitment, but because the financing size was anticipated after earlier partnership announcements, it is classified as Routine – Positive.

Gensource Potash Corp. is a junior potash developer focused on the Tugaske Project in Saskatchewan, Canada. The project targets a modular, low‑impact potash plant with an initial design capacity of 500,000 t/yr, double the original scope. The company emphasizes zero‑salt tailings and reduced water usage. Strategic progress hinges on securing long‑term off‑take and equity financing from a large Southeast Asian conglomerate.