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ICL acquires over 30 million Allana Potash shares

2:48 PM MDT | March 31, 2014 | Lindsay Frost

ICL Corp. (Tel Aviv) announced that it has acquired over 30 million units of Allana Potash Corp. (Toronto) at a price of 47 cts/share—bringing ICL’s total stake to 53,191,489 common shares. This results in ICL owning approximately 37% of issued and outstanding common shares on a partially diluted basis, the company says. The units were required as a part of a share purchase agreement made in February for ICL to invest about $23 million in shares of Allana. Allana is a potash mining company. ICL will support Allana in its development of the previously...

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