Karnalyte Resources Inc. Announces Receipt of Statement of Claim

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SASKATOON, SK, Feb. 18, 2021 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the "Company") (TSX: KRN) announced today that the Company has received a statement of claim (the "Claim") filed by Mr. Dan Brown against Karnalyte, Frank Wheatley, Mark Zachanowich, Peter Matson, Todd Rowan, Gregory Szabo, Sanjeev Varma and Vishvesh Nanavaty (collectively, the "Defendants").

Among other things, Mr. Brown is seeking, among other things, a declaration that certain statements made by the Defendants' about the Plaintiff are false and defamatory; a written apology; a declaration that the defendants have harassed, intimidated, and threatened the Plaintiff; damages in the amount of $180,000 for breach of contract; general damages of $500,000; punitive, exemplary and aggravated damages of $200,000; that the Defendants pay Mr. Brown for those monies paid by Mr. Brown for his shares in Karnalyte; and an award of special damages, past and future loss of income, and cost of future care.

The Company is thoroughly assessing the Statement of Claim with legal counsel and is considering all available recourse.

The full Statement of Claim may be accessed by reviewing the Court of Queen's Bench of Alberta's file number 2001-06644.

SOURCE Karnalyte Resources Inc.

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