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KARNALYTE RESOURCES ANNOUNCES MAJOR SHAREHOLDER GSFC TO PARTICIPATE IN RIGHTS OFFERING
KARNALYTE RESOURCES ANNOUNCES MAJOR SHAREHOLDER GSFC TO PARTICIPATE IN RIGHTS OFFERING ...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n \n \n \n KARNALYTE RESOURCES ANNOUNCES MAJOR SHAREHOLDER GSFC TO PARTICIPATE IN 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 \n July 28, 2022\n \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 that its strategic partner and significant shareholder, Gujarat State Fertilizers and Chemicals (\"\n \n GSFC\n \n \"), will participate in the Company's rights offering (the \"\n \n Rights Offering\n \n \"). GSFC's participation further demonstrates its ongoing commitment and support for Karnalyte and the Wynyard Potash project.\n \n \n \"The additional investment we will receive through GSFC's participation in the Rights Offering speaks to the belief and confidence that GSFC, a major player in\n \n India's\n \n agricultural sector, has in Karnalyte's vision and strategic planning,\" said\n \n Danielle Favreau\n \n , Interim CEO of Karnalyte. \"This is great news for our Company as we work toward our ultimate goal of maximizing value for shareholders and all stakeholders through the financing and construction of the Wynyard Potash project.\"\n \n \n GSFC is a major fertilizer and industrial chemicals manufacturing company in\n \n India\n \n , with a 38.73% ownership stake in Karnalyte.\n \n \n The strategic partnership between Karnalyte and GSFC, established in 2013, provides a significant competitive advantage to Karnalyte in the marketplace. Participating in the Rights Offering is yet another show of confidence in Karnalyte's efforts over the years, as Karnalyte's development will help to provide GSFC with a secure supply of potash for the years to come.\n \n \n A copy of the Rights Offering notice and the Rights Offering Circular are available on Karnalyte's website at\n \n www.karnalyte.com\n \n .\n \n \n \n ABOUT KARNALYTE RESOURCES INC.\n \n...