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4 months ago
BRIEF-Gensource Potash to create joint venture company - Vanguard Potash with Essel
April 5, 2017 / 11:13 AM / 4 months ago

BRIEF-Gensource Potash to create joint venture company - Vanguard Potash with Essel

1 Min Read

April 5 (Reuters) - Gensource Potash Corp

* 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: Further company coverage:

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