Annual and Special Meeting of Shareholders VOTING RESULTS
Annual and Special Meeting of Shareholders
VOTING RESULTS
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE
UNITED STATES
./
SASKATOON
,
June 8, 2018
/CNW/ - Karnalyte Resources Inc. ("Karnalyte" or "the Company")
(TSX: KRN) announces that all nominee directors listed in the Management Information Circular
dated
May 14, 2018
were elected as directors of the Company at its Annual and Special Meeting of
Shareholders (the "
Meeting
") held on
June 7, 2018
in
Saskatoon, Saskatchewan
.
At the Meeting, 18,249,487 shares were voted, representing 64.91% 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
Name
Votes For
% Votes For
Votes Withheld
% Votes Withheld
Mark Zachanowich
9,697,555
55.31
7,837,010
44.69
W. Todd Rowan
9,639,041
54.97
7,895,524
45.03
Peter Matson
9,680,555
55.21
7,854,010
44.79
Gregory Szabo
9,697,555
55.31
7,837,010
44.69
Vishvesh D. Nanavaty
9,594,051
54.72
7,940,514
45.28
Sanjeev V. Varma
9,579,051
54.63
7,955,514
45.37
Appointment of Auditors
Votes For
% Votes For
Votes Withheld
% Votes Withheld
KPMG
10,639,021
58.30
7,610,466
41.70
Change of Name
Votes For
% Votes For
Votes Withheld
% Votes Withheld
Alere Chemicals & Fertilizers Inc.
10,269,286
56.27
7,980,201
43.73
About Karnalyte Resources Inc.
Karnalyte Resources Inc. is an advanced fertilizer development company focused on two products to
be developed in
Saskatchewan
: potash and nitrogen. 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 following phases taking total production up to 2.125 million tonnes per
year. Karnalyte is also pursuing the Proteos Nitrogen Project, which is a proposed nitrogen fertilizer
plant with a nameplate production capacity of approximately 700 metric tonnes per day ammonia
and approximately 1,200 metric tonnes per day urea, and a target customer market of proximate
independent fertilizer wholesalers in
Saskatchewan
.
Forward-Looking Statements
Certain information included in this press release is forward-looking, within the meaning of applicable
Canadian securities laws. Forward-looking information is often, but not always, identified by the use
of words such as "anticipate", "believe", "could", "estimate", "expect", "plan", "intend", "forecast",
"future", "guidance", "may", "predict", "project", "should", "strategy", "target", "will" or similar words
or phrases suggesting future outcomes or language suggesting an outlook.
The forward-looking statements contained in this press release are based on certain key
expectations and assumptions made by Karnalyte, including, without limitation, assumptions as to:
projected economics for the Company's planned potash production facility, the confirmation in a
independent feasibility study of Karnalyte's assumptions regarding the technical and economic
viability of the Proteos Nitrogen Project, the ability of Karnalyte to obtain financing on terms
favourable to the Company, and the ability of Karnalyte to receive, in a timely manner, the necessary
approvals from the Company's board of directors, shareholders, regulatory authorities, and other
third parties.
Karnalyte believes the expectations and assumptions upon which the forward-looking information is
based are reasonable. However, no assurance can be given that these assumptions and
expectations will prove to be correct. Accordingly, readers should not place undue reliance on the
forward-looking statements and information contained in this press release. Without limiting the
generality of the foregoing, readers are cautioned that the Company has not received a feasibility
study prepared by a third party with respect to the Proteos Nitrogen Project.
Actual results may vary from the forward-looking information presented in this press release, and
such variations could be material. Risk factors and uncertainties could cause actual results to vary
from the forward-looking information in this press release. Additional information on forward-looking
statements and other factors that could affect Karnalyte's operations and financial results are
included in documents on file with Canadian securities regulatory authorities and may be accessed
through the Company's profile on the SEDAR website (
www.sedar.com
).
These forward-looking statements are made as of the date hereof and are expressly qualified in
their entirety by this cautionary statement. Subject to applicable securities laws, the Company
assumes no obligation to update or revise them to reflect new events or circumstances.
SOURCE
Karnalyte Resources Inc.
View original content: http://www.newswire.ca/en/releases/archive/June2018/08/c6058.html
%SEDAR: 00030640E
For further information:
Frank D. Wheatley, President, Karnalyte Resources Inc., +1 (306) 986-
1486, [email protected], www.karnalyte.com
CO: Karnalyte Resources Inc.
CNW 21:04e 08-JUN-18