Nov. 30, 2010 (Canada NewsWire Group) --
TORONTO, Nov. 30 /CNW/ - Liberty Metals & Mining Holdings, LLC ("Liberty
Metals") has announced today that it entered into a subscription
agreement with Allana Potash Corp. ("Allana"), pursuant to which
Liberty Metals has purchased, on a private placement basis, 24,300,000
common shares of Allana at a price of $0.51 per share for a total
subscription price of $12,393,000, representing approximately 16.99% of
Allana's outstanding common shares after giving effect to the issuance
of the shares to Liberty Metals.
Depending on market conditions, certain limitations contained in the
Investor Rights Agreement entered into today by Liberty Metals and
Allana, and other factors, Liberty Metals may from time to time acquire
additional securities of Allana or dispose of securities of Allana in
the open market, by private agreement or otherwise.
In connection with this news release, an early warning report has been
filed by Liberty Metals in accordance with applicable securities laws.
To obtain a copy of the early warning report, please contact:
Marie Sheehan
Liberty Metals & Mining Holdings, LLC
175 Berkeley Street, 18th Floor
Boston, MA 02116
Telephone: 617-654-4374
Fax: 617-482-3504