Karnalyte Resources Inc T.KRN

Clear message from shareholders not named GSFC

[mdjbrown]

Karnalyte Resources currently has 42,174,847 shares outstanding.

GSFC controls control’s approx             16.4 million shares

Approx shares voted for GSFC reps      16.7 million shares at this years AGM.  

 

If that is not a clear message from the majority shareholders to GSFC, I don’t know what is!

I am a little surprised at the number of Withheld votes as I would have thought Mr. Phinney / his supporters along with the CSG members would represent closer to 9 million or more shares.

[AriW16o]

KRN no need to conduct voting anymore, GSFC has already full control the result. It's just a formality to do voting. I myself did not bother asking proxy to broker this time and did not have intention to participate knowing the result, but since I got the proxy (without having to contact broker) then I fill in the proxy. Perhaps many others Mr. Phinnery supporters won't waste time filling

[businessense]

For what may well be an extremely complicated endeavour, the rhetoric certainly continues with little progress. Admittedly, the only vested parties are GSFC and the remaining Phinney advocates who withheld their vote, the balance of the shareholders who are along for the ride are indifferent. What will the lawsuits like so many other resolve? Nothing more just unnecessary expenses. On the

[mdjbrown]

Biz, I am not so sure it is as much shareholder indifference as the reality that the now CSG approving the Rights Offering tilted the scale so far in GSFCs favor on the ballot, that shareholders including the CSG really cant make any difference when it comes to their vote? Now GSFC controls the boardroom and the ballot, and until some of the allegations surrounding the Rights Offering are proven

[Jimintoronto1]

I did not receive any investor communication from KRN. Perhaps the votes weren't withheld - they weren't solicited?

[mdjbrown]

J1, for several years there have been concerns regarding the AGM and voting results. From 2017 where soliciting and working jointly and in concert directly affected the composition of the board of directors. 2018 allegations of changes to shareholder proxies / and 3 million mystery shares showing up in support of GSFC. DF King being hired days before the election and the notorius Letter to

[Trade33right]

We are hoping that the new board can turn around voting irregularities from the past 4 years?   How does that happen? 

[Trade33right]

I am confused. I have to assume your information is inaccurate on the payment of shares and now voting irregularities.  The securities commission would not allow this to continue once they saw the same information you are describing. They wasted no time when they stopped our original bank financing for virtually no apparent reason. Now they overlook the things you have pointed out. It doesn

[mdjbrown]

T33 Allegations that have popped up over the years are just that until proven otherwise, but I do know regulators including FCAA and ASC were formally made aware of these concerns on December 5, 2018, as well as other instances by shareholders. These concerns appear to be like that hot potatoe no one wants to catch, and is always someone elses department  lol I have heard the TSX, IRROC

[mdjbrown]

Keep in mind T33, 4 of the 5 directors elected were not holding board seats when the election concerns were taking place and the Rights Offering was pushed through. I can only assume in the best interests of all Karnalyte shareholders, that they are also curious about all the commotion surrounding the allegations. I certainly would be asking how Krn and its shareholders benefitted from the