First Edition – Update From the Field Newsletter
Making Moves in Houston
Investment dollars are hard at work supporting the Genesis engineering team as they dig deep into the urea plant design and technology available today verses thirty-five years ago when the last greenfield ammonia-urea plant was built in Canada. It’s an exciting time as the Genesis project moves forward with a state-of-the-art plant that will set a new standard of being majortiy owned by farmers for farmers. The plant ensures fertilizer security and vertically integrated cost structure for the farmer investor. Our team of specialized engineers, together with Genesis senior management attended key meetings with urea fertilizer technology providers from around the world in Houston, TX the week of June 6th. These meetings provided Genesis the opportunity to discuss, with plant equipment manufacturers and contractors, the best technology for our ultimate plant design.
Key Notes in Update
Significant steps forward as the FEED process escalates.
Equity raise rolls on with 65% of discounted shares sold!
Detailed project meetings held with Saskatchewan officials.
Equity raise rolls on with 65% of discounted shares sold!
Detailed project meetings held with Saskatchewan officials.
Equity Raise Grows: Planting the Seed
A Genesis project milestone was reached in August 2022, when farmers from across Canada, fed up with sky high urea prices, came forward and snapped up the $667 priced units raising over $10,000,000 in capital, giving the Genesis Fertilizers project the ability move forward with confidence. Now a second group of farm leaders are taking advantage of the $750 unit price to move the project into second gear. With over $8,000,000 of the Series Ill units spoken for out of the available $20,000,000 Genesis has the financial strength to see the engineering FEED work through into 2024. These units are being purchased daily from B.C. to Quebec, with most investors also locking in their forever tonnes from the urea plant. Contact Genesis now to secure your units!
Doing the Math
A new investor rationalized their Genesis ownership stake this way:
My investment to own a fertilizer plant, which most likely will be a once-in-a-lifetime opportunity, is going to cost me $225,000 for the 240 units of Genesis equity representing the 300 tonnes of urea I use on my 4500 acres each year. But I would also like to expand my acres. With land in this area selling for over $5000 an acre, I could buy 45 with the $225K! Or I become a fertilizer manufacturer and make my other acres more profitable. It just seems like a no-brainer as I don’t think another 45 acres is going to make the same difference to my bottom line.
Picture: Genesis Fertilizers engineering and management team meeting utilities.
Planning Meetings with Saskatchewan Utilities
A full slate of meetings was held on June 15 with projectspecific Saskatchewan Government departments and the Genesis engineering group. Detailed discussions with the Ministry of the Environment, SaskPower, SaskEnergy & TransGas, SaskWater, Ministry of Highways (Rail & Roads), and the Ministry of Trade & Export Development. The joint meetings resulted in clarity on core items required by Genesis engineers to continue with the Front End Engineering and Design (FEED) process. The meetings were very productive and confirmed the commitment to the farmer ownership by the GOS to see the project succeed.
Upcoming Events
Investor Open House
Monday, July 17, 6:30-8:30 pm, Hilton Garden Inn, Saskatoon
Ag In Motion
July 18-20 Booth #243, Langham, SK
