"We are proud to join the senior Canadian exchange at this critical stage of our development," said president and CEO, Farhad Abasov.
"This is also a very important event for Ethiopia as Allana has become the first company with an Ethiopian mining asset to be listed on the TSX, the pre-eminent exchange for global mining companies.
"We believe trading on the TSX will enhance our already strong trading liquidity and attract a broader investor base to Allana."
Allana is focused on the acquisition and development of potash assets, primarily the previously explored potash property in Ethiopia.
The company has secured financial support from two significant strategic investors: IFC, a member of the World Bank Group, and Liberty Metals and Mining, a subsidiary of Liberty Mutual Group.
An updated NI 43-101 compliant resource report in late June estimated total measured and indicated resources of 673 million tonnes, with an average grade of 18.65% potash, or KCI, (the composite grade of all four potash-bearing beds including sylvinite, upper and lower carnallite and kainitite). Inferred mineral resources now stand at 596 million tonnes with an average grade of 19.96% KCI.
Last week, Allana announced it initiated a feasibility study on its Ethiopian potash project, which will investigate the potential to extract potash through open pit mining, as well as solution mining and solar evaporation. The study is due to be completed in the second half of 2012.