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ALLANA POTASH CORP Announces Intention To Make Normal Course Issuer Bid


Monday, 29 Apr 2013 07:00am EDT 

ALLANA POTASH CORP announced its intention to make a Normal Course Issuer Bid (NCIB), subject to TSX (Exchange) approval, to buy back its common shares through the facilities of the Exchange. The maximum number of common shares that may be purchased for cancellation pursuant to the NCIB is that number of common shares that represents 10% of the common shares in the public float. Based on the 235,725,648 common shares in the public float as at April 26, 2013, the maximum number of shares to be cancelled would be 23,572,564. Allana notes that the number of its shares in the public float is less than the 276,454,501 total basic issued and outstanding Allana common shares as of April 26, 2013, because the public float number does not include common shares held by Allana insiders. Daily purchases will be limited to 77,591 common shares other than block purchase exceptions. The actual number of common shares that would be purchased, if any, and the timing of such purchases will be determined by Allana considering market conditions, stock prices, its cash position, and other factors. Allana made a previous NCIB, that terminated effective April 17, 2013, pursuant to which Allana purchased 1,719,400 securities at a weighted average price per security of $0.51. 

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