Maybe we should do the sameconsider other offers, time is running out Sinohydro!
Allana Resources Considering Multiple Unsolicited Offers for Its Ethiopian Potash Project
TORONTO, ONTARIO--(Marketwire- Oct. 28, 2009) - Allana Resources Inc. (TSX VENTURE:AAA) ("Allana" or the"Company"), is pleased to announce that it has received multiple unsolicitedoffers from various strategic counterparties (the "Other Offers") to participatein its potash project located in the Danakil Depression in northeasternEthiopia (the "Project"). Allana's management is currently evaluating the OtherOffers, all of which include terms and conditions which are presently believedby management to be more attractive than the previously announced memorandum ofunderstanding ("MOU") with ChinaCo (See Allana News Release dated July 20,2009). In light of its receipt of the Other Offers, Allana will assess theOther Offers relative to the MOU. Following that assessment, Allana will pursuethe transaction for the Project that it believes offers the greatest value toAllana's shareholders and is in the best interest of the Company. Allanamanagement firmly believes the Project represents a significant, unique potashasset and that the Other Offers are a testament to the scale, quality, valueand scarcity of the Project.
Farhad Abasov, Allana's Presidentand CEO, stated, "Allana is pleased to receive additional offers for itssignificant potash project in Ethiopia. There are currently a number ofattractive proposals available to the Company, including the initiallycontemplated transaction with ChinaCo. Allana will evaluate each one and willpursue the proposal that maximizes shareholder value and is in the bestinterest of the Company."