Business
KARNALYTE RESOURCES ANNOUNCES CORPORATE UPDATE, PREPARATION OF ESG STRATEGY, AND LAUNCH OF RIGHTS OFFERING
KARNALYTE RESOURCES ANNOUNCES CORPORATE UPDATE, PREPARATION OF ESG STRATEGY, AND LAUNCH O...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n \n \n \n KARNALYTE RESOURCES ANNOUNCES CORPORATE UPDATE, PREPARATION OF ESG STRATEGY, AND LAUNCH OF RIGHTS OFFERING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Not for distribution to U.S. news wire services or dissemination in\n \n the United States\n \n .\n \n \n \n \n \n SASKATOON, SK\n \n \n ,\n \n June 22, 2022\n \n /CNW/ - Karnalyte Resources Inc. (\"\n \n Karnalyte\n \n \" or the \"\n \n Company\n \n \") (TSX: KRN), is pleased to announce today a number of updates on initiatives to enhance business operations, raise capital and increase shareholder value.\n \n \n \"By updating our NI 43-101, embarking on our first-ever ESG strategy, and raising capital through a rights offering, Karnalyte is working toward its goal of becoming a low-cost, sustainable producer of high-quality potash, with the goal of establishing the next greenfield, environmentally innovative potash mine,\" said\n \n Danielle Favreau\n \n , Interim CEO of Karnalyte.\n \n \n \n Corporate Update on NI 43-101 technical report\n \n \n \n As previously announced, based on an improvement in potash commodity price trends that began in 2021, Karnalyte decided to proceed with an update to its NI 43-101 compliant technical report as part of the Company's strategic development plan. And due to the impact of potash supply constraints following\n \n Russia's\n \n invasion of\n \n Ukraine\n \n in February, 2022, present potash price forecasts continue to support that decision. Over the past 6 months, Karnalyte has been focused on the update to its NI 43-101 compliant technical report, following the announcement of leading global consulting and engineering firm Wood PLC serving as independent lead author. As part of the technical report update, the Company has also engaged industry leading solution mining and engineering firm ERCOSPLAN ingenieurgesellschaft Geotechnik und Bergbau mbH (\"\n \n ERCOSPLAN\n \n \") to assist with the project, including the update of the mineral resource estimation and the mine plan for brine field d...