SASKATOON, Nov. 1, 2017 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the "Company") (TSX: KRN) announced today that the Company has received a statement of claim filed by Mr. Siu Ma, the Company's former Chief Operating Officer, in the amount of $728,750. Mr. Ma's claim is for an alleged breach of contract for the Company's failure to provide payments to Mr. Ma after he terminated the employment agreement alleging a change of control had occurred.
The Company is thoroughly assessing the claim with legal counsel and is considering all available recourse.
The full statement of claim may be accessed by reviewing the Court of Queen's Bench of Alberta's file number 1703-20972.
SOURCE Karnalyte Resources Inc.
For further information: Karnalyte Resources Inc., 1 (306) 986-1486, firstname.lastname@example.org, www.karnalyte.com