Gensource Potash (TSE:GSP) has released an update.
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Gensource Potash Corporation has extended the maturity dates of promissory notes totaling $300,000 from June 25 to December 24, 2024. These notes, held by CEO Michael Ferguson and directors Wayne Brownlee and Stephen Dyer, are unsecured and carry a 0% interest rate. The modification of the terms is classified as a ‘related party transaction’ but is exempt from formal valuation and minority shareholder approval.
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