SASKATOON, June 30, 2021 - 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.
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