Karnalyte Resources Inc T.KRN

Couple of Director purchases days before Rights deadline

[mdjbrown]

Filed 2022-07-05 17:08   Tx date 2022-06-28	$KRN Karnalyte Resources Inc.	Hoffman, Derek 4 - Director of Issuer Direct Ownership	Common Shares 10 - Acquisition or disposition in the public market	$10,105 +21,500 vol $0.47 each	21,500
Filed 2022-07-01 11:19   Tx date 2022-06-27	$KRN Karnalyte Resources Inc.	Scherman, Gerald 4 - Director of Issuer Direct Ownership	Common Shares 51 - Exercise of options	$14,250 +75,000 vol $0.19 each	75,000

[bigkagan]

Yeah, maybe they know something that we don't know. I'll keep my Rights until the last minute as a call option in case there are some good news before Aug.10 and the stock rallies 

[FYFTMI]

you might wanna try to sell all the rights before July 29th if that's the case.

[bigkagan]

I can use my Rights to buy KRN shares up until Aug.10. July 29 is for those who want to buy the Rights themselves. I already have the Rights, don't need to buy them

[mdjbrown]

It is expected that the Rights will trade on the Toronto Stock Exchange under the symbol "KRN.RT" commencing on June 28, 2022 and will trade until 12:00pm (Toronto time) on July 29, 2022 (the "Expiry Time"), after which time unexercised Rights will be void and of no value.

[businessense]

It is still interesting to note that this time they did not just issue more share 3 to 1 as the last time when GSFC was able to increase their position??? This mechanism is still a little peculiar.

[mdjbrown]

biz, during the last 2 to 1 Rights Offering in December 2018, GSFC had a Backstop Agreement with Krn, contractually allowing them to subscribe to any remaining Rights that shareholders did not exersize.  I agree that was peculiar, but it was by design to offer GSFC a stamp on control, in return for those who thought they were going to advance the nitrogen idea with the proceeds according to

[bigkagan]

Then they better release the technical update until then and some plans, otherwise I'm not buying "cat in the bag" from them right now

[mdjbrown]

Filed 2022-07-15 09:54   Tx date 2022-07-11 $KRN Karnalyte Resources Inc. Favreau, Danielle 5 - Senior Officer of Issuer Direct Ownership Rights ($0.01/ Expire July 29, 2022) 10 - Acquisition or disposition in the public market $900.00 +90,000 vol $0.01 each 90,000

[businessense]

I did not see an amount of shared from the other 2 directors in the earlier post? For Favreau, since she did not own shares she would have purchased 90,000 Rights, which would indicate she intends to purchase 30,000 shares. Not a lot but sounds about right?