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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 Aug 07, 2022 9:55am
321 Views
Post# 34877020

RE:RE:New SEDI report out

RE:RE:New SEDI report outVery likely just a typo bk, as Rights Offerings dont work that way, and there was certainly no preferential insider treatment clause in the Rights Offering circular, or I would assume all the insiders would have capitalized on it.

It would be interesting to know the story behind the scenes as these Rights expired on July 29, 2018, but it would appear many of the transaction dates according to SEDI were August 3, 2018

Definately possible the August long weekend delayed filing dates for these transactions

Not the first time confussion has surfaced with Rights, as according to a previous exec / directors affidavit filed January 28, 2021, there was confussion during the 2018 Rights Offering process as well.

According to this affidavit, an insider purchased 2018 Rights on the open market, tried to exersize them after the expiry date, and was not allowed according to the affidavit leaving the insiders purchased rights worthless.




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