Toronto-Allana Resources Inc. reports that it has closed its previously announced acquisition of 100 percent of Latin American Potash Corp. (LAPC), which holds potash-prospective assets in Argentina. LAPC holds 154,000 hectares in Neuquen province. Some of the properties adjoin Rio Tinto’s Potasio Rio Colorado project. As a result of the acquisition, Allana says it holds one of the largest land positions in the Neuquen Basin. In consideration of 100 percent of the outstanding shares of LAPC, Allana paid LAPC shareholders C$130,000 and issued an aggregate of 3,000,000 Allana common shares. Allana says it continues to search for significant, world-class potash assets, with a focus on Latin America, Canada, and Eastern Africa. Allana is a publicly-traded corporation with a focus on the acquisition and development of potash assets internationally.
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