Junior miner Gensource Potash Corp., Saskatoon, reported on Oct. 25 its intention to seek admission of its common shares to trading on the London Stock Exchange’s AIM market. It expects that admission will become effective in early November, resulting in the common shares being “dual listed” on the AIM and the TSX Venture Exchange (TSXV).
Gensource said the new listing will allow it to take advantage of exposure to the U.K. and European financial markets and the increased liquidity expected with an additional listing on AIM.
With Gensource’s relationship with Germany-based Helm Ag, the offtaker of its Tugaske Potash Project, and two mandated lead debt arrangers, KfW IPEX-Bank and Société Générale, also headquartered in Europe, the company said its Tugaske Project has generated interest from U.K. and European investors.
Additionally, Gensource said its business plan is to build future potash production modules around the world, which lends itself to obtaining increased liquidity through the global reach of an AIM listing.