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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.


TSX:KRN - Post by User

Comment by mdjbrownon Aug 07, 2022 9:55am
275 Views
Post# 34877020

RE:RE:New SEDI report out

RE:RE:New SEDI report outVery likely just a typo bk, as Rights Offerings dont work that way, and there was certainly no preferential insider treatment clause in the Rights Offering circular, or I would assume all the insiders would have capitalized on it.

It would be interesting to know the story behind the scenes as these Rights expired on July 29, 2018, but it would appear many of the transaction dates according to SEDI were August 3, 2018

Definately possible the August long weekend delayed filing dates for these transactions

Not the first time confussion has surfaced with Rights, as according to a previous exec / directors affidavit filed January 28, 2021, there was confussion during the 2018 Rights Offering process as well.

According to this affidavit, an insider purchased 2018 Rights on the open market, tried to exersize them after the expiry date, and was not allowed according to the affidavit leaving the insiders purchased rights worthless.




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