Karnalyte Resources Inc. Announces Annual Meeting Voting Results

2020-06-26 / @newswire

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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.

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