Allana Potash (GREY:ALLRF)

TORONTO, ONTARIO--(Marketwired - Aug. 26, 2013) - Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") announces progress in its project financing strategy with the signing of formal mandate letters with prospective lenders within a lender group representing loans in excess of the target amount of 60-65% debt contemplated to finance the initial construction of Allana's Danakhil potash project (the "Project"). Following receipt of renewed letters of interest from large Development Finance Institutions ("DFIs") and Export Credit Agencies ("ECAs"), formal mandate letters have been signed between Allana and members of the group of DFIs and ECAs. In parallel with the mandates, lenders have begun formal loan assessment preparations and a due diligence review of the Project. The group of lenders includes large multilateral and regional DFIs and ECAs from North America, Europe and Africa.

Management is pleased that the capital structure for the Project has been well-received and supported by the lenders' analysis of the Project Feasibility Study. Allana continues to work with its project finance advisor, BNP Paribas and representatives of the lenders, as well as with the specialized technical advisors engaged on behalf of the lenders, with a view to de-risking the Project as we move towards finalizing financing commitments. Allana expects the technical and commercial evaluation of the Project to be completed by late 2013, thereby allowing for the closing of the project debt financing and start of construction in early 2014.

Farhad Abasov, President and CEO, commented: "Allana is very encouraged by this major project financing milestone achieved. The company is very appreciative of positive and strong support from the group of large, prestigious multilateral DFIs and ECAs that we have engaged and are consulting. We will maintain our efforts to ensure that the solid projected credit metrics of the Project support our targeted amount of project debt financing, thereby increasing the potential returns to Allana shareholders. The formal mandating of the lenders is a significant development in our project financing activities which, along with our current cash on hand and continued support from our existing strategic investors in the face of challenging sector conditions, gives us confidence that the Project will continue to be financed and developed according to schedule."

TORONTO, ONTARIO--(Marketwired - April 29, 2013) - Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") announces its intention to make a Normal Course Issuer Bid ("NCIB"), subject to TSX ("Exchange") approval, to buy back its common shares through the facilities of the Exchange.

The maximum number of common shares that may be purchased for cancellation pursuant to the NCIB is that number of common shares that represents 10% of the common shares in the public float. Based on the 235,725,648 common shares in the public float as at April 26, 2013, the maximum number of shares to be cancelled would be 23,572,564. Allana notes that the number of its shares in the public float is less than the 276,454,501 total basic issued and outstanding Allana common shares as of April 26, 2013, because the public float number does not include common shares held by Allana insiders. Daily purchases will be limited to 77,591 common shares other than block purchase exceptions. The actual number of common shares that would be purchased, if any, and the timing of such purchases will be determined by Allana considering market conditions, stock prices, its cash position, and other factors. Allana made a previous NCIB, that terminated effective April 17, 2013, pursuant to which Allana purchased 1,719,400 securities at a weighted average price per security of $0.51.

The Board of Directors of Allana believes that the underlying value of the Company is not reflected in the current market price of its common shares, and may not be so reflected at certain times during the course of the NCIB, and has thus concluded that the repurchase of common shares pursuant to the proposed NCIB presently constitutes an appropriate use of financial resources and would be in the best interest of Allana shareholders.

Purchases under the NCIB are permitted to commence on May 1, 2013 and will terminate on April 30, 2014 or the date upon which the maximum number of common shares have been purchased by Allana pursuant to the NCIB. There cannot be any assurance as to how many common shares, if any, will ultimately be acquired by Allana under the NCIB. Allana intends that any shares acquired pursuant to the NCIB will be cancelled.

Any purchases made pursuant to the NCIB will be made in accordance with the rules of the TSX and will be made at the market price of the common shares at the time of the acquisition. Allana will make no purchases of common shares other than open market purchases that may be made during the period that the NCIB is outstanding.

China May Finance Ethiopian Mine

China's $300 billion sovereign wealth fund may finance China Mining United Fund's plan to develop a potash project in Ethiopia that is also being eyed by mining giant BHP Billiton Ltd., a senior official familiar with the situation said Thursday.

China Investment Corp. is studying whether to take a stake in the potash project being jointly developed by China Mining United Fund and Canada's Allana Potash Corp., or finance part of the project's construction costs, the person familiar with the situation said.

According to China Mining's Web site, the potash project is one of the largest in the world, with projected output of about 200 million metric tons.

CIC's possible involvement in the pursuit of potash, used in fertilizers, highlights China's growing demand for the mineral, as it seeks to boost its agricultural output.