Allana Potash reports Upsizing of Private Placement

Allana Potash Corp. (TSX VENTURE:AAA) reported that in order to satisfy additional demand the compny has increased the size of its private placement, previously announced on March 2, 2010, to 14,442,500 units of the company at a price of $0.40 per Unit for gross proceeds of $5,777,000, on a private placement basis.

The press release is quoted as saying:

The Offering is being placed by a syndicate of agents led by Wellington West Capital Markets Inc. and Dundee Securities Corporation, and including Loewen, Ondaatje, McCutcheon Limited. Closing of the Offering is anticipated to occur on or about March 23, 2010 and is subject to the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.

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