When you think about it from a lenders perspective, why would any financial institution lend Allana money when it's own partner hasn't fully invested (warrants = $84 million overall).
ICL played thier cards right. Wait it out, then lowball Allana with a takeover instead.
Well we can now say Allana's project is fully validated. Now if only this crappy deal could be blocked and replaced with a better one???
The Second Tranche Offering is part of the Company's strategic alliance with ICL pursuant to which an ICL subsidiary entered into a Share Purchase Agreement with Allana on February 12, 2014 for an aggregate investment of $25 million in Units of the Company at a price of $0.47 per Unit on a private placement basis (the "Offering") with the potential for a total investment of up to $84 million upon full exercise of the Warrants comprising part of the Units. The Company closed on the initial $10.6 million investment on February 12, 2014
