TORONTO, ONTARIO--(Marketwire - April 13, 2011) - Allana Potash Corp. (TSX VENTURE:AAA) ("Allana"), is pleased to announce that it has renewed its contract with Investor Cubed Inc. ("Investor Cubed") to provide investor communications, shareholder information and public relations services.
In connection with the renewal, Investor Cubed has been granted 100,000 stock options at a price of $2.00. The options shall vest quarterly in four equal installments over a period of one year with the first installment vesting on the date that is three months from the date of grant, subject to the four month regulatory hold. The options shall be subject to regulatory approval and shall expire five years from the date of grant, subject to the termination provisions of Allana's Stock Option Plan.
About Investor Cubed
Investor Cubed provides specialized investor relations and business consulting services to a select group of leading Canadian small cap companies.
In addition, Investor Cubed is a partner and co-manager of www.SmallCapPower.com (SCP). SCP is Canada's first website dedicated to tracking stocks with market caps from $5 to $250 million and has rich investment content and dynamic functionality that brings investors and financial industry professionals together to discover and communicate with small cap companies.
About Allana Potash
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 with Inferred Mineral Resources of 73.9 million tonnes of kainitite mineralization grading 61.7 % kainite and 31.3 million tonnes of sylvinite resource grading 25.4 % sylvite (combined 105,200,000 tonnes with a composite grade of 20.8 % KCl (see News Release dated Sept. 17, 2008). Allana has approximately 178 million shares outstanding and trades on the TSX-Venture Exchange under the symbol "AAA".
Peter J. MacLean, Ph.D., P. Geo., Allana's 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.
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 impact of the appointment 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.NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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