Allana Potash Corp. Engages Investor Relations Group Spinnaker Capital Markets
TORONTO, ONTARIO -- (Marketwire) -- 12/13/12 -- Allana Potash Corp. (TSX: AAA)(OTCQX: ALLRF) ("Allana" or the "Company") is pleased to announce that it has engaged Spinnaker Capital Markets Inc. ("Spinnaker") to provide capital markets and investor relations services.
"Allana Potash is a premiere international junior potash exploration and development company that is rapidly advancing its flagship project in Ethiopia towards production. Led by a seasoned senior management and technical team, Allana's project hosts a significant mineral resource that we believe has the potential to become one of the lowest cost producers in the industry. We are delighted to have been selected as their capital markets and investor relations advisors and look forward to a long and successful relationship," said Kevin O'Connor, Partner at Spinnaker Capital Markets.
"Allana is pleased to have secured the services of such a high profile IR/Capital Markets Advisory firm such as Spinnaker. We look forward to this partnership and working towards maximizing shareholder value over the life of our project" said Farhad Abasov, President and CEO of Allana.
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 measured and indicated Sylvinite resources of 171.36 Million Tonnes of 30.9% KCl; inferred Sylvinite resource of 46.62 million tonnes grading 30.25% KCl; measured and indicated Kainitite resources of 701.55 million tonnes at 20.26% KCl, inferred Kainitite resource of 373.71 million tonnes of 20.35% KCl; measured and indicated Upper Carnallitite resources of 78.5 million tonnes grading 18.4% KCl, inferred Upper Carnallitite resource of 155.53 million tonnes of 16.95% KCl; measured and indicated Lower Carnallitite resources of 269.10 million tonnes of 10.86% KCl, inferred Lower Carnallitite resource of 130.7 million tonnes grading 11.7% KCl. The foregoing mineral resource estimates are as at April 27, 2012. 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 "Updated Resource Report for the Danakhil Potash Deposit, Afar State/Ethiopia" dated June 13, 2012, effective April 30, 2012 filed at www.sedar.com, Allana has approximately 275.7 million shares outstanding. Allana trades on the Toronto Stock Exchange under the symbol "AAA" and on the OTCQX under the symbol "ALLRF".
About Spinnaker Capital Markets Inc.
Spinnaker is Toronto based advisory firm which provides TSX and TSX.V listed companies with an array of advisory services from investor relations to strategically positioning its portfolio of companies for maximum exposure amongst targeted research analysts, and retail and institutional investors. Spinnaker has long-standing relationships with Canadian, American and European investment banking, asset management and retail brokerage firms with focus on the small to mid capitalization market segment.
Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is a Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information presented in this release.
Forward-Looking Statement
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the the impact of the engagement on the Company; 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.
Contacts:
Allana Potash Corp.
Richard Kelertas
Senior Vice President, Corporate Development
(514) 717- 6256
rkelertas@allanapotash.com
www.allanapotash.com
Spinnaker Capital Markets
Kevin O'Connor
(416) 962-3300
ko@spinnakercmi.com
www.spinnakercmi.com