Brief: Gensource Potash to create joint venture company - Vanguard Potash with Essel

Gensource Potash

05/04/2017 12:02

April 5 (Reuters) - Gensource Potash Corp  GSP.V  
    * Gensource Potash Corp - co has executed shareholder 
agreement  with Essel Group Me Limited to create a joint venture 
company, Vanguard Potash Corp 
    * Gensource Potash Corp - purpose of JV is construction and 
operation of new Vanguard potash production facility in 
Saskatchewan 
    * Gensource Potash Corp - feasibility study is on schedule 
for completion in Q2 2017 
    * Gensource Potash - under terms of agreement Vanguard will 
become 49 percent owned by Egme, 51 percent owned by Gensource 
upon receipt of first tranche of financing 
    * Gensource Potash Corp - under terms of agreement once 
construction financing is delivered , Vanguard will become 70 
percent owned by Egme, 30 percent by Gensource 
 
Source text for Eikon:  ID:nBw4ygmvVa  
Further company coverage:  GSP.V  
 
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