LONE TREE, Colo., Sept. 25 /PRNewswire-FirstCall/ -- AmerAlia, Inc. (Pink Sheets: AALA) yesterday stated in its 10Q filing with the SEC for the quarter ended September 30, 2007 that it had recorded a gain of $9,938,0222 as a result of the repayment of a bank loan under guarantee agreement with one of its shareholders.
In August 2007 private equity funds managed by Sentient Asset Management acquired AmerAlia shares and various debts of AmerAlia. A condition of the acquisition was the repayment by the shareholder of a loan and all outstanding interest to the Bank of America. Sentient has since provided three loans to AmerAlia and purchased some other AmerAlia obligations.
Mr. Bill H Gunn, Chairman and CEO of AmerAlia said, "We are delighted to have Sentient as our major shareholder. They have been very supportive of both AmerAlia and Natural Soda, Inc. and enabled us to advance our commercial objectives. That support is ongoing." In addition Mr. Gunn reported that the company had recently settled approximately $3.5 million of other debt obligations for an issue of 1,403,200 shares.
Natural Soda, Inc., 46.5% owned by AmerAlia, produces naturally occurring sodium bicarbonate from its Bureau of Land Management 9,543 acre leases in Northwest Colorado. It has solution mine and processing plant capable of producing in excess of 100,000 tons per year. It produces almost all grades of sodium bicarbonate commonly called baking soda. Natural Soda, Inc. also owns a reservoir and extensive condition and unconditional water right in the Colorado River drainage system. The sodium leases and adjacent areas also contain large oils shale resources. Natural Soda, Inc. does not have title to the oil shale. It intends to apply for title if regulations to lease the oils shale are promulgated and approved.
DISCLAIMER
The future conduct of the business of the Company is dependent upon a number of factors. There can be no assurance that AmerAlia or Natural Soda, Inc. will be able to conduct its operations as contemplated herein. Certain statements contained in this report using the terms denoting future possibilities are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks (including, without limitation, those risks described herein and in the Company's other reports filed with the Securities and Exchange Commission) which are beyond the Company's ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. It is important that each person reviewing this report understand the significant risks attendant to the operations of AmerAlia. AmerAlia disclaims any obligation to update any forward-looking statement made herein.
