Allana Potash Corp. Announces Election of Directors
January 16 2014 - 5:30PM
Marketwired
Allana Potash Corp. Announces Election of Directors
TORONTO, ONTARIO--(Marketwired - Jan 16, 2014) - Allana Potash
Corp. (TSX:AAA)(OTCQX:ALLRF) ("Allana" or the "Company") Announces
that the nominees listed in the management proxy circular for the
2014 Annual Meeting of Shareholders were elected as directors of
Allana. Detailed results of the vote for the election of directors
held at the meeting on January 16, 2014 in Toronto, Ontario are set
out below.
|
|
% Votes For |
% Votes Withheld |
|
Farhad Abasov |
96.75% |
3.25% |
|
Betty-Ann Heggie |
97.93% |
2.07% |
|
Richard Lacroix |
97.64% |
2.36% |
|
Lewis Mackenzie |
97.52% |
2.48% |
|
Mark Stauffer |
97.65% |
2.35% |
Further to the Company's press release on December 16, 2013 and
following today's shareholder meeting, Ms. Betty-Ann Heggie has
joined Allana's board of directors.
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.
Shareholders also approved the amendment to the Company's
by-laws to require advance notice in circumstances where
nominations of persons for election to the board of directors are
made by shareholders.
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 Sylvinite mineral 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 270.9 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