Gensource Potash Corporation (TSXV:GSP) announced a non-brokered private placement on best efforts basis for the issue of up to 27,272,728 units at CAD 0.11 per unit for gross proceeds of CAD 3,000,000.08 on January 13, 2017. Each unit will consist of one common share and 1/2 of one purchase warrant. Each whole warrant will entitle the holder to acquire one share for CAD 0.17 for a period of 24 months after closing. The terms of the financing were established in the context of the market over the last 30 days. The transaction will take place by way of a private placement to qualified investors in such provinces of Canada as the company may designate, and otherwise in those jurisdictions where the transaction can lawfully be made. The securities to be issued will be subject to a statutory fourth month and one day hold period from the closing date. The transaction is expected to close on or before January 19, 2017 and is subject to the approval of the TSX Venture Exchange.