Gensource Potash (TSE:GSP) has released an update.
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Gensource Potash Corporation has extended the maturity date of a $250,000 promissory note, originally due July 1, 2024, to July 1, 2025. The note, issued to CEO Michael Ferguson, is unsecured and carries a zero percent interest rate. This adjustment is considered a related party transaction, but has been deemed fair and reasonable by the Company’s directors, excluding Ferguson.
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