Gensource Potash Acquires Innovare Technologies Ltd.

April 13, 2022

Gensource Potash Corporation has entered a binding agreement to acquire 100% of Innovare Technologies Ltd. by reorganizing Innovare’s shareholders into new common shares of Gensource, making Innovare a wholly-owned subsidiary and giving Gensource exclusive control of Innovare’s selective solution mining and brine processing technology. The deal values Innovare at approximately US$11.5 million (reflecting existing licensing agreements) and remains subject to TSX Venture Exchange approval, with closing anticipated in Q2 2022.

Buyers
Gensource Potash Corporation
Targets
Innovare Technologies Ltd.
Sellers
Artisan Consulting Services Ltd, McEwan Consulting Chemical Engineering, Inc., Ristra Consulting Inc.
Industry
Agriculture
Location
Canada
Transaction Type
Buyout

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