THE K2 PRINCIPAL FUND L.P. ACQUIRES COMMON SHARES OF Typhoon Exploration Inc.

TORONTO, June 3, 2011 /CNW/ -The K2 Principal Fund L.P. ("K2") announced that it has acquired an additional 300,000 common shares of Typhoon Exploration Inc. ("TYP"). As a result of the acquisition of such shares, K2 now owns 2,837,100 common shares, representing approximately 14.72% of the issued and outstanding common shares of TYP.

The common shares were purchased by K2 in the open market on the TSX Venture Exchange. 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 TYP through market transactions, private agreements or otherwise.

SOURCE K2 Principal Fund L.P.

For further information:

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


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