07:41 AM EDT, 06/27/2025 (MT Newswires) -- Gensource Potash ( AGCCF ) on Friday said it has exercised its option to acquire 206 acres of surface lands where the main plant for its planned Tugaske Potash Project in Saskatchewan will be constructed.

The project lands are adjacent to key infrastructure, including Canadian Pacific Kansas City ( CP ) , a statement noted.

The Tugaske Project will produce a minimum of 250,000 tonnes of muriate of potash (MOP) annually. HELM Fertilizers, a U.S. subsidiary of HELM AG, will purchase 100% of the annual production from the Tugaske Project and market directly to its customers for at least the first 10 years.

"The exercise of this land purchase agreement is a pivotal moment for Gensource and the Tugaske Project," said Chief Executive Mike Ferguson. "Owning the surface lands outright not only strengthens our control over the project's timeline but also underscores our commitment to advancing this strategically important asset. With this key piece in place, we are well-positioned to move forward with the next phases of implementation."