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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. 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.


TSX:KRN - Post by User

Comment by mdjbrownon Jun 05, 2021 9:41am
274 Views
Post# 33335762

RE:RE:PROXY / MIC / 2021 AGM info out on SEDAR tonight

RE:RE:PROXY / MIC / 2021 AGM info out on SEDAR tonightAri, Mr Nanavaty, Mr Anjaria, and Mr. Scherman are all incumbent directors who all held various board roles the past year with Karnalyte.


According to the Management Information Circular reported on SEDAR last night -   

Mr. Pathakjee is the Senior Vice President of Materials Management at Gujarat State Fertilizers and Chemicals Ltd, and Mr. Hoffman is a corporate/commercial lawyer with the Hoffman Group out of Saskatoon.

There are no nominee representitives from the previous dissident csg group on the proxy which makes things very interesting.

Do we see another round of CSG press releases from them shortly considering the Karnalyte Board will now have additional GSFC representation on the Karnalyte board equating to 60% board control to go along with GSFC's proxy voting control due to the previous Rights Offering?

This goes directly against what past directors / csg members are arguing in their Originating Application filed earlier with the courts.





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