Allana Potash Corp. Announces Application for Admission on the AIM Market in
TORONTO, ONTARIO -- (Marketwired) -- 11/05/13 -- Allana Potash Corp.
(TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") announces that it
has today filed an application for the admission to the AIM market of
the London Stock Exchange plc of the Company's common shares. Cantor
Fitzgerald Europe has been appointed as the Nominated Advisor for the
purposes of the admission.
AIM is the London Stock Exchange's international financial listing
vehicle for fast growing companies seeking broader investor exposure
and enhanced liquidity in the UK and European equity markets. Since
its launch in 1995, over 3000 companies across the globe have chosen
to join AIM.
Recently, following the grant of the large-scale mining permit,
Allana entered the "pre-construction" phase of its development of the
Danakhil Potash Project in Ethiopia. Allana's application for an AIM
listing is the logical next step in its progression towards becoming
a fully fledged international potash producer by attracting a wider
investment audience in different parts of the world.
"Allana Potash has continued to achieve important, successive
milestones in its ongoing transformation from a junior potash
exploration company to a global development mining concern. This is
in large part due to the strong support of our equity partners, our
stakeholders (including the Ethiopian government), the dedicated
management team and focused Board of Directors. Our proposed listing
on AIM re-enforces this fact, as well as our commitment to expand our
shareholder profile into the UK, Europe, the Middle East and Africa
and allow a broader group of investors access to the Allana growth
story," said Farhad Abasov, President and CEO.
It is anticipated that Allana will be admitted to trading on AIM in
early December 2013. A copy of Allana's pre-admission announcement
and Appendix will be made available on Company's SEDAR profile at
About Allana Potash Corp.
Allana is a publicly traded corporation with a focus on the
acquisition and development of potash assets internationally with its
major focus on a previously explored potash property in Ethiopia.
Allana has secured financial support from two significant strategic
investors: IFC, a member of World Bank Group, and Liberty Metals and
Mining, a member of Liberty Mutual Group. Allana has estimated
measured and indicated Sylvinite mineral resources of 327.4 million
tonnes of 28.3% KCl; and an estimated inferred Sylvinite mineral
resource of 90.8 million tonnes grading 27.8% KCl, In addition, the
Danakhil Project hosts estimated measured and indicated Kainitite
mineral resources of 1,150.5 million tonnes at 19.4% KCl, an
estimated inferred Kainitite mineral resource of 481.8 million tonnes
of 19.8% KCl; estimated measured and indicated Upper Carnallitite
mineral resources of 411.3 million tonnes grading 17.3% KCl,
estimated inferred Upper Carnallitite mineral resources of 175.5
million tonnes of 16.5% KCl; estimated measured and indicated Lower
Carnallitite mineral resources of 557.2 million tonnes of 9.2%KCl,
and estimated inferred Lower Carnallitite mineral resources of 369.3
million tonnes grading 7.7% KCl. The foregoing mineral resource
estimates are as at April 17, 2013. For more information with respect
to the data verification procedures undertaken and the key
assumptions, parameters and risks associated with the foregoing
estimates, refer to Allana's Technical Report entitled "Resource
Update for the Danakhil Potash Deposit, Danakhil Depression, Afar
State, Ethiopia" dated effective April 17, 2013 filed under the
Company's SEDAR profile at www.sedar.com on August 7, 2013. Allana
has approximately 270.3 million shares outstanding. Allana trades on
the Toronto Stock Exchange under the symbol "AAA".
Dr. Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration,
is the Company's designated Qualified Person and has reviewed and
approved the technical information presented in this release.
Except for statements of historical fact relating to the Company,
certain information contained herein constitutes "forward-looking
information" under Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
statements are based on the opinions and estimates of management as
of the date such statements are made and they are subject to known
and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by
such forward-looking statements or forward-looking information.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements and forward-looking
information. The Company does not undertake to update any
forward-looking statements or forward-looking information that are
incorporated by reference herein, except in accordance with
applicable securities laws.
Allana Potash Corp.
Senior Vice President, Corporate Development
514 717 6256
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