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Gensource Capital Announces $2.5M Private Placement
1/18/2013 3:40:00 PM
By: MT Newswires
Gensource Capital Corporation (GSP.V) will be conducting a non-brokered private placement of units at a price of $0.08 per unit and flow-through units at a price of $0.10 per FT unit, for aggregate gross proceeds of up to $2.5 million.
The proceeds from the sale of FT units will be used for exploration purposes. The net proceeds from the sale of units will be used for exploration and general working capital purposes.
The company also announced that Gensource Potash Corp, a wholly owned subsidiary of Gensource Capital, signed a letter of intent with an international resource company with an interest in developing a potash project in Saskatchewan.
GSP shares were trading at $0.065, up half-a-cent.