Allana Potash Corp. (TSX VENTURE:AAA) reported that the company has completed its previously announced private placement of 14,442,500 units of the Company at a price of C$0.40 per Unit for gross proceeds of approximately $5.8 million.

The press release is quoted as saying:

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 NI 43-101-compliant Inferred Mineral Resource of over 100 million tonnes of potash mineralization (Sylvite and Kainite) with a composite grade of 20.8 % KCl (for details regarding the resource estimate, see News Release Sept. 17, 2008).

Click here to access the entire press release ^[1]

Click here to access Allana Potash Corporate Site ^[2]