Karnalyte Takes on Bank Debt to Develop Potash Project

Globe and Mail reported that Karnalyte Resources (TSX:KRN) took out a bank loan after cancelling its bought-deal financing.

As quoted in the market news:

The Wynyard Carnallite project is estimated to require capital expenditure worth $593-million, and the firm plans to finance about half of that with debt, and the other half with equity.

Click here to read the full Globe and Mail report.