Gensource Capital Corporation

Gensource Capital Corporation

June 20, 2013 15:51 ET

Gensource Appoints Mike Ferguson as CEO

SASKATOON, SASKATCHEWAN--(Marketwired - June 20, 2013) - Gensource Capital Corporation ("Gensource" or the "Company") (TSX VENTURE:GSP) is pleased to announce the appointment of Mike Ferguson as Chief Executive Officer of Gensource. Alan Cruickshank will continue in his role as President and director of Gensource.

"On behalf of the board of directors, I am pleased to welcome Mike to the position of CEO. Mike has a proven track record of successful potash project development and excellent management skills. He is a great asset to our company," said Alan Cruickshank, President of Gensource.

Mike Ferguson, CEO, commented: "The announcement following the June 10th Annual General and Special Meeting of shareholders of Gensource marks a major milestone for the Company. It is, first, a signal for the completion of the previous business purpose of the Company as a merchant bank, having now successfully closed out the business dealings of previous subsidiary companies. Secondly, it marks the beginning of a new phase of business focused in the potash industry and on driving promising projects through to production. With a newly focused board of directors, a management team uniquely qualified for project development in Saskatchewan, and a clear and forward-looking strategy towards potash production, the Company is poised for significant growth and success. I am proud to be part of such a team in this exciting phase of change in the global potash industry."

Mike Ferguson is a professional engineer with over 25 years experience in potash and uranium mining projects in Saskatchewan. Mike graduated from the University of Saskatchewan with a B.Sc. in Mechanical Engineering. Following a few years spent with the Canadian Military, Mike settled back in Saskatoon and has spent his entire mining career in Saskatchewan participating in projects in potash, uranium, gold and base metals. His experience ranges from working at the mining face behind a Marietta Miner in a potash operations, to in-plant engineering (both surface plant and underground), engineering management, project management through to general management of engineering and EPCM companies. Most recently, Mike successfully led the Potash One project team responsible for the development of the Legacy Project in Southern Saskatchewan from initial exploration through scoping-, pre-feasibility- and feasibility studies and an approved EIS, to the point where it was acquired by the international potash producer K+S Group of Germany. Mike brings to Gensource not only his experience in the potash industry but also the unique experience of leading the development of a greenfield potash property in Saskatchewan - the first such project to be developed in over 40 years.

About Gensource

Gensource Capital Corporation is based in Saskatoon, Saskatchewan and is focused on developing resource opportunities with a specific focus on potash development. The Company's primary project is its wholly-owned subsidiary, Gensource Potash Corporation, also based in Saskatoon Saskatchewan. Gensource Potash Corporation is led by Mike Ferguson P.Eng., President and CEO. Mr. Ferguson has assembled a world class management team with direct and specific interest in potash development.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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