Gensource’s vision is to be a leading global low-cost supplier of potash, with a clear focus on sustainable development. The general strategy of the Company is to develop the Tugaske Project into production and then proceed to develop additional potash production modules within the wider Vanguard Area (the area in which the Tugaske Project is located) and the Lazlo Area, using the same potash production module as it is developing for the Tugaske Project. The Company would also seek to implement similar offtake agreements as the Offtake Agreement with HELM, whereby one purchaser would purchase all of the potash production from a particular module. The Company believes that this approach is most sensible because the volume of a single module is relatively small, thereby allowing an offtaker to market the entire volume without creating a potash market pricing impact with the added volume. The Company believes that if its modular approach to potash production used for the Tugaske Project is successful, it will allow the Company to develop other known potash resources around the world where traditional large projects have proven uneconomic.

It is also the intention of the Company to acquire Innovare shortly following Admission. The Company is currently in negotiation with Innovare and believes that the terms of such acquisition have largely been settled. However, there can be no assurance that the Company will complete the acquisition of Innovare on terms acceptable to the Company, and therefore the acquisition may not complete. Until such potential acquisition is completed, the Innovare Agreement will remain in place.


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