Karnalyte Resources Inc. Announces Receipt of Requisition of Special Meeting
KARNALYTE.COM
TSX: KRN
KARNALYTE RESOURCES INC. ANNOUNCES RECEIPT OF
REQUISITION OF SPECIAL MEETING
Not for distribution to U.S. news wire services or dissemination in the United States.
SASKATOON, SK (CNW- July 13, 2020) – Karnalyte Resources Inc. (“Karnalyte” or the “Company”)
(TSX: KRN) announces that, less than two weeks after its annual meeting, it has received a requisition
for a special meeting of shareholders from a group of dissident shareholders comprising former
Karnalyte directors Peter Matson, Greg Szabo and Mark Zachanowich for the election of four individuals
to the Board of Directors of the Company.
There is no action for shareholders to take at this time. Karnalyte is currently reviewing the latest
dissident shareholder documents and will update shareholders in due course. The Company’s priority
continues to be the completion of the previously announced prefeasibility study and the work to
engage a strategic consultant.
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.
For further information, please contact:
Danielle Favreau
CFO & Interim CEO
Karnalyte Resources Inc.
1(306) 986-1486
www.karnalyte.com