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SERVICES OR DISSEMINATION IN THE UNITED
STATES./
SASKATOON, SK, June 26, 2020 /CNW/ - Karnalyte Resources
Inc. ("Karnalyte" or the "Company") (TSX: KRN)
announced today that all nominee directors listed in the management
information circular dated May 26,
2020 were elected as directors of the Company at the annual
meeting of the Company's shareholders held on June 26, 2020 (the "Meeting") in
Saskatoon, Saskatchewan.
At the meeting, 21,939,935 shares were voted, representing
52.02% of the Company's issued and outstanding common shares. The
voting results for all matters brought forth at the Meeting are set
out below.
ELECTION OF DIRECTORS
|
NOMINEES
|
NUMBER OF
SHARES
VOTED IN
FAVOR
|
% IN
FAVOR
|
NUMBER OF
SHARES
WITHHELD
|
%
WITHHELD
|
|
Vishvesh D.
Nanavaty
|
17,327,984
|
80.46
|
4,207,215
|
19.54
|
|
D.C.
Anjaria
|
17,442,083
|
80.99
|
4,093,116
|
19.01
|
|
Gerald
Scherman
|
17,448,483
|
81.02
|
4,086,716
|
18.98
|
APPOINTMENT OF AUDITORS
|
NUMBER OF
SHARES
VOTED IN
FAVOR
|
% IN
FAVOR
|
NUMBER OF
SHARES
WITHHELD
|
%
WITHHELD
|
|
KPMG
|
18,205,701
|
82.98
|
3,734,252
|
17.02
|
ABOUT KARNALYTE RESOURCES INC.
Karnalyte Resources Inc. 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
("TPY") of high grade granular potash, and two subsequent
phases of 750,000 TPY each, taking total production up to 2.125
million TPY. 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 ("MTPD") of ammonia
and approximately 1,200 MTPD of urea, and a target customer market
of independent fertilizer wholesalers in Central Saskatchewan.
SOURCE Karnalyte Resources Inc.
