Business
Karnalyte Resources Inc. Announces Appointment of Chief Executive Officer, Directors and Third Quarter 2014 Results
CALGARY , Nov. 14, 2014 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the "Corporati...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n\n\nCALGARY, Nov. 14, 2014 /CNW/ - Karnalyte Resources Inc. (\"Karnalyte\" or the \"Corporation\") (TSX: KRN) today announced effective November 14, 2014, Stephen Goodman has been\n appointed the President and Chief Executive Officer, and a Director of\n the Corporation.  Prior to joining Karnalyte, Mr. Goodman held\n increasingly senior positions in the banking sector.  He has worked at\n Canaccord Genuity in Vancouver, KCG Holdings Inc. and most recently\n KGS-Alpha Capital Markets L.P. in New York. Most of Mr. Goodman's\n career has been focused on the natural resource sector. Originally from\n Vancouver, Canada, he has lived and worked in Asia, Europe and the\n United States.  Mr. Goodman has an MBA in Finance from INSEEC, a\n Graduate Diploma from Capilano University's Asia Pacific Management\n Program, and a B.A. from the University of Western Ontario.\n\n\nIn addition, Gerald Offet was appointed a director of the Corporation,\n also effective November 14, 2014.  Mr. Offet has held a number of\n senior management and board appointments in the Crown sector in the\n Provinces of Saskatchewan, Manitoba and British Columbia.  Mr. Offet is\n a resident of Saskatchewan and brings knowledge of the business\n climate, the interest groups and the expectations for a company in this\n industry to the Board. He holds a B.A. in Economics and an LLB.\n\n\n\"The Company continues to focus its efforts in raising financing to move\n its potash project into construction,\" said Stephen Goodman, President\n and CEO of Karnalyte Resources Inc. \"and aggressively cutting costs to\n conserve as much capital as possible to enhance its position when the\n financing becomes available.\"\n\n\nAt September 30, 2014, the Company had net working capital of $42.7\n million compared to $49.3 million at September 30, 2013 including $42.9\n million and $51.5 million, respectively, in cash. Karnalyte's Third\n Quarter 2014 Financial Statements and Management's Discussion and\n Analysis (MD&A) are available at www.sedar.com.\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n\nKARNALYTE RESOURCES INC.\n\nSTATEMENTS OF FINANCIAL POSITION\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nASSETS\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n...