Allana Potash Corp. (TSX VENTURE:AAA) (“Allana” or the “Company”) is pleased to announce that it has been selected as a constituent investment holding in the newly launched Global X Fertilizers/Potash ETF (NYSE:SOIL) (“SOIL”). SOIL offers targeted exposure to fertilizer producers around the world, giving investors access to a critical agricultural and commodity sector.
Farhad Abasov, President and CEO, commented: “We are very pleased that Allana Potash has been included in the SOIL ETF. Being selected by Global X Funds in this important international investment product is another validation of our positioning as an emerging player in the global potash industry.”
The Global X Fertilizers/Potash ETF tracks the Solactive Global Fertilizers/Potash Index, which is designed to track the performance of the largest and most liquid listed companies globally that are active in some aspect of the fertilizer/potash industry. “As the population in emerging economies continues to increase their food consumption and purchasing power, these nations have to increase farming yields,” said CEO of Global X Funds, Bruno del Ama. “We are starting to see how these fertilizer and potash companies stand to benefit from this demand.”
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 with Inferred Mineral Resources of 73.9 million tonnes of kainitite mineralization grading 61.7 % kainite and 31.3 million tonnes of sylvinite resource grading 25.4 % sylvite (combined 105,200,000 tonnes with a composite grade of 20.8 % KCl (see News Release dated Sept. 17, 2008). IFC, a World Bank Group member, and Liberty Metals and Mining Holdings, LLC, a subsidiary of Liberty Mutual Group and the Company’s largest shareholder, are both significant strategic partners who have invested in Allana’s potash project in Ethiopia. Allana has approximately 189.5 million shares outstanding and trades on the TSX-Venture Exchange under the symbol “AAA”.
About Global X Funds
Global X Funds is a New York-based provider of exchange-traded funds that facilitates access to investment opportunities across the global markets. With $1.8 billion in managed assets as of April 29, 2011, it is one of the fastest growing ETF providers in the world. Global X Funds currently offers exchange-traded funds that target Commodity Producers, Developed Markets, Emerging Markets, and Special Opportunities fund suites. For more information, please visit www.globalxfunds.com.
Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the impact of the inclusion and selection in SOIL on the Company, the estimation of mineral reserves and mineral resources; the timing and amount of estimated future exploration; costs of exploration; capital expenditures; success of exploration activities; permitting time lines and permitting, ; government regulation of mining operations; environmental risks; unanticipated reclamation expenses; and title disputes or claims; 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.