Allana Potash Acquires Shares of Nova-Ethio Potash Corporation

By CnAgri2012-09-07 12:03:07 Print Allana Potash Corp.is pleased to announce that the Company has entered into a definitive agreement (the "Merger Agreement") to acquire all of the issued and outstanding common shares of Nova-Ethio Potash Corporation ("Nova"), a private company, which indirectly holds a 100% interest in a strategically located potash license adjacent to the Company's potash project in the Danakhil Depression in Ethiopia (the "Nova Property"). It is proposed that acquisition will be effected through the merger of a wholly-owned subsidiary of Allana and Nova, in accordance with the laws of the British Virgin Islands (the "Transaction").