KARNALYTE RESOURCES INC. ANNOUNCES ANNUAL MEETING VOTING RESULTS

KRN Admin

SASKATOON, SK (CNW- June 23, 2023) – Karnalyte Resources Inc. (“Karnalyte” or the “Company“) (TSX: KRN) announced today that all nominee directors listed in the management information circular dated May 18, 2023 were elected as directors of the Company at the annual meeting of the Company’s shareholders held on June 22, 2023 (the “Meeting”) in Saskatoon, Saskatchewan.

At the meeting, 29,631,144 shares were voted, representing 55.61% 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 25,962,897 88.29 3,442,780 11.71
Derek Hoffman 26,089,414 88.72 3,316,263 11.28
Vishvesh D. Nanavaty 25,968,197 88.31 3,437,480 11.69
Dilip V. Pathakjee 25,962,897 88.29 3,442,780 11.71
Ritu Malhotra 25,968,197 88.31 3,437,480 11.69

APPOINTMENT OF AUDITORS

  NUMBER OF SHARES VOTED IN FAVOR % IN FAVOR NUMBER OF SHARES WITHHELD % WITHHELD
KPMG 26,518,460 89.54 3,098,515 10.46

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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For further information, please contact:

Karnalyte Resources Inc.
1(639) 398-6478
info@karnalyte.com
www.karnalyte.com

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