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
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:
The K2 Principal Fund L.P.