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SASKATOON, SK, June 30, 2021 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the "Company") (TSX: KRN) announced today that all nominee directors listed in the management information circular dated May 31, 2021 were elected as directors of the Company at the annual meeting of the Company's shareholders held on June 29, 2021 (the "Meeting") in Saskatoon, Saskatchewan.

At the meeting, 23,176,992 shares were voted, representing 54.95% 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

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 AUDITORS


NUMBER OF SHARES
 VOTED IN FAVOR

% IN
FAVOR

NUMBER OF SHARES
WITHHELD

%
WITHHELD

KPMG

17,153,772

74.01

6,023,220

25.99

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.

Copyright 2021 Canada NewsWire

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