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Allana Potash Nearly 3% Higher As Announces Strategic Investment by International Finance Corporation

Allana Potash Corp (AAA.V) went up by nearly 3% to $1.59 after announcing a non-brokered private placement with International Finance Corporation, a member of the World Bank Group for 6.25 million units at a price of $1.60 per unit for gross proceeds of C$10 million.

Farhad Abasov, President and CEO, commented, "I am very pleased to welcome IFC as a proposed strategic investor in Allana. This investment will be a strong testament to the merits of our potash project in Ethiopia. IFC is one of the largest multilateral financing organizations contributing to the development of key mining, infrastructure and industrial projects worldwide by investing $18 billion in fiscal 2010 alone. This is an important development not only for Allana but also for Ethiopia."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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