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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