Brief: Karnalyte Resources announces agreement in principle for about $700 mln in financing

Gujarat State Fertilizers & Chemicals

14/03/2016 13:00

March 14 (Reuters) - Karnalyte Resources Inc  KRN.TO : 
 * Announces agreement in principle for approximately $700 million usd in 
   financing for phase 1 potash mine and spin-out of secondary mineral assets 
   and unexplored lands 
 * Entered agreement in principle with Gujarat State Fertilizers and Chemicals 
   Limited 
 * Agreement to finance construction of first phase of karnalyte's 625,000 
   tonnes per year potash mine at wynyard, Saskatchewan 
 * Agreement in principle to spin-out karnalyte's secondary mineral assets and 
   unexplored lands into one or more separate entities 
 * Rpt-karnalyte resources - entered agreement in principle with gujarat state 
   fertilizers and chemicals limited 
 
 * Source text for Eikon  ID:nCNWQ59sJa  
 
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