Karnalyte Resources Inc T.KRN

Alternate Symbol(s): KRLTF

Karnalyte Resources Inc. is a Canada-based development stage company. The Company is engaged in the exploration and development of its property and possible construction of a production facility and development of a potash mine. The property is situated in Saskatchewan, south of Wynyard and contains a dominant zone of potash and magnesium minerals. Its Wynyard Potash Project is a Carnallite/Sylvinite solution mining project in central Saskatchewan. It has a 100% interest in KLSA 010, KL 247A, and KL 246 mineral leases comprising approximately 367 square kilometers (km2) (90,766 acres) of mineral rights. It also owns around 4,100 acres of surface land. The project is located approximately 190 km east of Saskatoon, SK, or 176 km north of Regina, SK. It is also exploring the development of the Proteos Nitrogen Project. The Proteos Nitrogen Project is an advanced stage development project consisting of a proposed small-scale nitrogen fertilizer plant to be located in Central Saskatchewan.

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Karnalyte Resources Inc > summary of lawsuits

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Comment by mdjbrownon Apr 01, 2022 7:27pm

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Post# 34569070

RE:summary of lawsuits

ohjeezuz, this info is all publicly available on SEDAR in recent corporate AIF / MD&A disclosure

In the fourth quarter of 2017, Karnalyte received a statement of claim filed at the Court of Queen's Bench of Alberta by Mr. Siu Ma, the Company's former Executive Vice-president and Chief Operating Officer, in the amount of $728,750.

(Concluded - Judges Decision) On May 28, 2018, the Company filed an originating application at the Court of Queen's Bench of Alberta

On June 29, 2018, the Company filed a statement of claim at the Court of Queen's Bench of Alberta against Mr. Dan Brown

On July 4, 2018, the Company filed a statement of claim at the Court of Queen's Bench of Alberta against Mr. Robin Phinney

(Settled) In the fourth quarter of 2019, the Company received a statement of claim filed at the Court of Queen’s Bench of Saskatchewan by the Company’s former Chief Executive Officer, in the amount of $450,000.

On February 1, 2021, the Company received an originating application filed at the Court of Queen's Bench of Alberta by Messrs. Peter Matson and Gregory George Szabo against Karnalyte, GSFC, each of the current directors of the Company, the Interim CEO of the Company, and a former director of the Company

On February 18, 2021, the Company received a statement of claim filed at the Court of Queen's Bench of Alberta by Mr. Dan Brown against Karnalyte, Frank Wheatley, Mark Zachanowich, Peter Matson, Todd Rowan, Gregory Szabo, Sanjeev Varma and Vishvesh Nanavaty

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