Allana Potash Corp. (TSX VENTURE: AAA) ("Allana" or the "Company")is pleased to announce that Mr. Richard J. Lacroix, P. Eng. has beenappointed to the Company's Board of Directors. Mr. Lacroix, nowretired, is the former Sr. Vice-President, Technical Services forPotash Corporation of Saskatchewan and spent almost 30 years withPotash Corp.
Mr. Lacroix has had a long and prominent career in the potashbusiness with Potash Corp., joining the company in 1977 as ProjectManager of the company's Rocanville expansion. Mr. Lacroix rosesteadily through management positions in Potash Corp. and became Sr.Vice President of Technical Services in 1987 and headed the teamresponsible for the corporation's Research and Development work andmajor capital expansions. In 1991, Mr. Lacroix became Executive VicePresident of PCS Sales, responsible for Canadian Potash Sales,Industrial Sales, and Transportation & Distribution.
During this period, Mr. Lacroix also served as a board member forCanpotex and as Chairman for Canpotex Bulk Terminals Ltd. Mr. Lacroixresumed his role as Vice President Technical Services in 2001,overseeing research and development as well as managing majorexpansions at Rocanville, Lanigan and Allan divisions.
Mr. Lacroix obtained his Bachelor of Science in ElectricalEngineering from the University of Saskatchewan.
Farhad Abasov, Allana's President and CEO, stated: "We are verypleased to welcome Richard Lacroix to Allana's Board. Having workedas a Senior Vice President of the largest potash company in theworld, Rick brings critical experience in the areas of potash projectdevelopment, sales, marketing and logistics. After several successfuldrill holes Allana is gearing up to confirm its resource in severalmonths. This will allow us to transition to a development stage withbankable feasibility study and construction. Rick's contribution toAllana at the development and production stage, as well as duringnegotiations with potential partners, will be invaluable."
In conjunction with his appointment, Allana has granted Mr. Lacroix100,000 stock options pursuant to the stock option plan of theCompany. The options will be exercisable for
.43 per option andshall expire on September 27, 2015. Such options shall vestimmediately subject to the applicable regulatory hold period. Thegrant of options remains subject to receipt of all requiredregulatory approvals.
Mr. Lacroix replaces Mr. Rene Bharti, who has tendered hisresignation as a Director. The Board would like to thank Rene for hiscontribution and wish him well in his future endeavours.