Karnalyte shareholders approve AGM resolutions Karnalyte shareholders approve AGM resolutions
2021-06-30 17:28 ET - News Release
Ms. Danielle Favreau reports
KARNALYTE RESOURCES INC. ANNOUNCES ANNUAL MEETING VOTING RESULTS
All nominee directors listed in the management information circular dated May 31, 2021, were elected as directors of Karnalyte Resources Inc. at the annual meeting of the company's shareholders held on June 29, 2021, in Saskatoon, Sask.
At the meeting, 23,176,992 shares were voted, representing 54.95 per cent of the company's issued and outstanding common shares. The voting results for all matters brought forth at the meeting are set out in the attached tables.
ELECTION OF DIRECTORS Nominees Number of shares voted in favour % in favour Number of shares withheld % withheld D.C. Anjaria 16,855,289 73.20 6,172,413 26.80 Derek Hoffman 16,901,664 73.40 6,126,038 26.60 Vishvesh D. Nanavaty 16,753,789 72.75 6,273,913 27.25 Dilip V. Pathakjee 16,760,089 72.78 6,267,613 27.22 Gerald Scherman 16,795,364 72.94 6,232,338 27.06
APPOINTMENT OF KPMG AS AUDITOR Number of shares voted in favour % in favour Number of shares withheld % withheld 17,153,772 74.01 6,023,220 25.99
About Karnalyte Resources Inc.
Karnalyte is a development-stage company focused on two fertilizer products, potash and nitrogen, to be produced and manufactured in Saskatchewan. Karnalyte owns the construction-ready Wynyard potash project, with planned phase 1 production of 625,000 tonnes per year of high-grade granular potash and two subsequent phases of 750,000 tonnes per year each, taking total production up to 2,125,000 tonnes per year. Karnalyte 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 of ammonia and approximately 1,200 metric tonnes per day of urea, and a target customer market of independent fertilizer wholesalers in central Saskatchewan.