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Gujarat State Fertilizers lifts stake in Karnalyte to 38.7%

Gujarat State Fertilizers and Chemicals Ltd. acquired 10,288,697 shares of Karnalyte Resources Inc. at a price of 17 Canadian cents apiece in a rights offering.

GSFC increased its stake in Karnalyte to 38.7%, from 21.5%.

The company said Dec. 27 that it acquired the additional shares in Karnalyte for investment purposes.