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. It is focused on two fertilizer products, potash and nitrogen, to be produced and manufactured in Saskatchewan. The Company owns the construction ready Wynyard Potash Project, with planned phase I production of 625,000 tonnes per year (TPY) of high-grade granular potash, and two subsequent phases of 750,000 TPY each, taking total production up to 2.125 million TPY. The Company is also exploring the development of the Proteos Nitrogen Project, which is a proposed small scale nitrogen fertilizer plant with a nameplate production capacity of approximately 700 metric tonnes per day (MTPD) of ammonia and approximately 1,200 MTPD of urea, and a target customer market of independent fertilizer wholesalers in Central Saskatchewan.

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Karnalyte Resources Inc > What next?

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Comment by mdjbrownon Feb 15, 2021 11:32pm

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Post# 32570742

RE:What next?

Howlong the "stay" awarded by the courts was in relation to the next 2 lawsuits Krn has filed against shareholders.

"Most notably the action of Karnalyte against Phinney and Brown is stayed until Karnalyte pays up. Does that mean that the case will continue after payment is received? "

The innitial Originating Application is over but once Krn pays the court ordered cost awards, Krn can proceed with the $5 million and $1.4 million dollar lawsuits still outstanding against shareholders.

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