Dallol Potash

completed

Allana Potash Corp is a publicly listed Canadian company engaged in the acquisition and development of potash assets and is currently focused on the exploration and development of the Dallol Potash project located in the Danakil Depression in northeastern Ethiopia (“the Project” or “Dallol”).A total IFC equity investment of up to C$17 million is proposed to support the development of the Project. From this amount, C$10.0 million in equity will initially be used to acquire about 6.25 million common shares (approx. 4.6%) of the Company. The balance will be used to exercise the warrant package attached to the equity investment. IFC’s investment will support the funding of the Company’s budget and work program for the next two years which includes drilling and core sampling, and preparation of a feasibility study integrated with an Environmental and Social Impact Assessment (ESIA), at a total cost of about C$17.8 million. IFC will also support the Company in developing the Project in line with international best practice in environmental and social sustainability. In line with similar previous investments, this Environmental and Social Review Summary (ESRS) covers Dallol’s activities at the early exploration pre-feasibility and pre-development stage.