THE K2 PRINCIPAL FUND L.P. ACQUIRES COMMON SHARES OF Leader Energy Services LTD.

TORONTO, Feb. 28 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that it has acquired 4,000,000 common share purchase warrants (the "Warrants") to purchase up to 4,000,000 common shares of Leader Energy Services LTD. ("LEA") at an exercise price of $0.65 per share. The Warrants expire on February 18th, 2014. As a result of the acquisition of such Shares and Warrants and assuming the exercise of the Warrants in full, the Partnership would own 4,000,000 common shares, representing approximately 21.98% of the issued and outstanding common shares of Leader Energy Services LTD (the "Common Shares").

K2 acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of LEA through market transactions, private agreements or otherwise. 

SOURCE K2 Principal Fund L.P.

For further information:

Dan Gosselin
The K2 Principal Fund L.P.
(416) 365-2155 


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