RE: RE: RE: Question on Financing.MAR 1/11..$1.55
Mar 01, 2011
ALLANA POTASH CLOSES $38 MILLION FINANCING INCLUDING EXERCISE IN FULL OF THE OVER-ALLOTMENT OPTION
Not for dissemination in the United States or through U.S. newswires
For Immediate Release: March 1, 2011
ALLANA POTASH CLOSES $38 MILLION FINANCING INCLUDING EXERCISE IN FULL OF THE OVER-ALLOTMENT OPTION
• $32,085,000 on an Underwritten Basis
• $6,235,259.40 to Liberty Metals & Mining on a Non-Brokered Basis
Toronto, Ontario -- Allana Potash Corp. (TSX-V: AAA) ("Allana" or "the Company"), is pleased to announce that it has closed its previously announced underwritten private placement financing of 20,700,000 common shares at $1.55 per share (the "Offering Price) for gross proceeds of $32,085,000 (the "Brokered Offering") and its previously announced non-brokered private placement of 4,022,748 common shares at the Offering Price with Liberty Metals & Mining Holdings, LLC ("LMM"), a subsidiary of Liberty Mutual Group and the Company's largest shareholder, who elected to exercise its participation rights for further gross proceeds of $6,235,259.40 (the "Non-Brokered Offering" and together with the Brokered Offering, the "Offering"). The Brokered Offering was led by Dundee Securities Ltd. as sole-bookrunner, together with Wellington West Capital Markets Inc. as co-lead underwriter and including Cormark Securities Inc. and Fraser Mackenzie Limited (the "Underwriters").