Allana Potash Corp. Announces Betty-Ann Heggie as Nominee to the Board of Directors
December 16 2013 - 7:00AM
Marketwired
Allana Potash Corp. Announces Betty-Ann Heggie as Nominee to the
Board of Directors
TORONTO, ONTARIO--(Marketwired - Dec 16, 2013) - Allana Potash
Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") announces
its slate of nominees to the Board of Directors (the "Board") for
election at the annual general and special meeting (the "Meeting")
of its shareholders to be held on January 16, 2014. The current
four Board members, Mr. Farhad Abasov, Mr. Lewis MacKenzie, Mr.
Richard Lacroix and Dr. Mark Stauffer will seek re-election and Ms.
Betty-Ann Heggie will be nominated. Ms. Heggie is independent with
credentials and experience that match the growth, evolution, and
potential of the Company.
Dr. Mark Stauffer, Chairman, commented: "We are delighted to
nominate Betty-Ann to join our Board of Directors. The board
considers that her extensive potash industry expertise will provide
both valuable insight and guidance as we execute Allana's
development strategy; becoming an efficient and low cost potash
producer looking to serve world markets and the emerging African
market."
Betty-Ann Heggie is the former Senior Vice-President, Corporate
Relations of PotashCorp of Saskatchewan. She retired in 2007 after
26 years with the company. During her tenure with PotashCorp, Ms.
Heggie was responsible for all areas that affected the company's
public presence, especially relations with shareholders and key
stakeholders. She advised the board on corporate governance issues
and initiated the corporate sustainability program. Under her
leadership, PotashCorp received the Award of Excellence from the
Canadian Institute of Chartered Accountants in three consecutive
years. Ms. Heggie has served as a director of the Canadian Chamber
of Commerce, where she chaired both the International Strategic
Advisory committee and the audit committee. She was also a member
of the board of the Saskatoon Regional Economic Development
Authority Inc., the Canadian Wheat Board and MITACS, a Network of
Centres of Excellence for the mathematical sciences. Ms. Heggie was
the founding chair of the Saskatchewan Chapter of the Institute of
Corporate Directors. Ms. Heggie is a graduate of the University of
Saskatchewan and the Senior Executive Program, Columbia Business
School in New York.
Adoption of Advance Notice By-law
The Company also announces that the Directors are proposing that
the By-laws of the Company be altered to include an advance notice
provision (the "Advance Notice Provision"). The purpose of the
Advance Notice Provision is to establish the procedure for
shareholder nomination of directors. The Advance Notice Provision
creates a deadline by which holders of record of common shares of
the Company must submit director nominations to the Company prior
to any annual or special meeting of shareholders and sets forth the
information that a shareholder must include in a notice to the
Company for the director nominations to be valid. The Advance
Notice Provision is intended to: (i) facilitate an orderly and
efficient process for conducting annual general or special
meetings; (ii) ensure that all shareholders receive adequate notice
of the director nominations and sufficient information regarding
all director nominees; and (iii) allow shareholders to register an
informed vote after having been afforded reasonable time for
appropriate deliberation.
The full text of the proposed alteration of the By-laws to
include the Advance Notice Provision is set out in the Company's
Management Information Circular of the Company prepared in
connection with the January 16, 2014 Annual General & Special
Meeting, which will be mailed to each shareholder of the Company
and filed on the sedar profile of the Company at www.sedar.com.
Admission on the AIM Market
Further to the Company's November 5, 2013 press release, due to
the pursuit of other more urgent corporate initiatives at this
time, Allana has elected to postpone its AIM listing. It is
expected that admission will occur in the first quarter of
2014.
About Allana Potash
Corp.
Allana is a publicly traded corporation with a focus on the
acquisition and development of potash assets internationally with
its major focus on a previously explored potash property in
Ethiopia. Allana has secured financial support from two significant
strategic investors: IFC, a member of World Bank Group, and Liberty
Metals and Mining, a member of Liberty Mutual Group. Allana has
estimated measured and indicated Sylvinitemineral resources of
327.4 million tonnes of 28.3% KCl; and an estimated inferred
Sylvinite mineral resource of 90.8 million tonnes grading 27.8%
KCl, In addition, the Danakhil Project hosts estimated measured and
indicated Kainitite mineral resources of 1,150.5 million tonnes at
19.4% KCl, an estimated inferred Kainitite mineral resource of
481.8 million tonnes of 19.8%KCl; estimated measured and indicated
Upper Carnallitite mineral resources of 411.3 million tonnes
grading 17.3% KCl, estimated inferred Upper Carnallitite mineral
resources of 175.5 million tonnes of 16.5% KCl; estimated measured
and indicated Lower Carnallitite mineral resources of 557.2 million
tonnes of 9.2%KCl, and estimated inferred Lower Carnallitite
mineral resources of 369.3 million tonnes grading 7.7% KCl. The
foregoing mineral resource estimates are as at April 17, 2013. For
more information with respect to the data verification procedures
undertaken and the key assumptions, parameters and risks associated
with the foregoing estimates, refer to Allana's Technical Report
entitled "Resource Update for the Danakhil Potash Deposit, Danakhil
Depression, Afar State, Ethiopia" dated effective April 17, 2013
filed under the Company's SEDAR profile at www.sedar.com on August
7, 2013. Allana has approximately 270.3 million shares outstanding.
Allana trades on the Toronto Stock Exchange under the symbol
"AAA".
Dr. Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP
Exploration, is the Company's designated Qualified Person and has
reviewed and approved the technical information presented in this
release.
Forward-Looking
Statement
Except for statements of historical fact relating to the
Company, certain information contained herein constitutes
"forward-looking information" under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and
they are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
statements or forward-looking information. Although management of
the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements or forward-looking information, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. The
Company does not undertake to update any forward-looking statements
or forward-looking information that are incorporated by reference
herein, except in accordance with applicable securities laws.
Allana Potash Corp.Richard KelertasSenior Vice President,
Corporate Development514 717 6256rkelertas@allanapotash.com