Allana Potash Corp. Enters into Strategic Alliance with Israel Chemicals Ltd. 

 

February 2014

Allana Potash Corp. entered into a strategic alliance with Israel Chemicals Ltd. (ICL) pursuant to which a wholly-owned subsidiary of ICL agreed to invest $25 million in securities of Allana, with the potential for a total investment of up to $84 million. In addition, another wholly-owned subsidiary of ICL entered into an offtake agreement with respect to Allana's Danakhil potash project in Ethiopia. Allana was represented in-house by Brianna Davies, Corporate Secretary & Legal Counsel. External representation to Allana was provided by Cassels, Brock & Blackwell LLP with a team that included André Boivin, Cathy Mercer and Afzal Hasan; and by Mr. Mesfin Tafesse in Ethiopia. ICL was represented in-house by Lisa Haimovitz, General Counsel and Company Secretary; and Liat Alon, Legal Counsel, Commercial and M&A. External representation to ICL was provided by McMillan LLP with a team that included Paul Davis, John Clifford, David Mendicino, Sandra Zhao and Bernhard Zinkhofer; and by Goldfarb Seligman & Co., Law Offices in Israel with a team that included Dubi Zoltak and Florence Limor-Shaham; and by Shavit Bar-On Gal-On Tzin Yagur, Law Offices in Israel with a team led by Amir Witkon; and by Teshome Gabre-Mariam Bokan Law Office in Ethiopia with a team led by Mr. Teshome Gabre-Mariam Bokan.