TORONTO, Jan. 20 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that it has acquired common share purchase warrants (the "Warrants") to purchase up to 10 million common shares of TG World Energy Corp. ("TG World") at an exercise price of $0.25 per share. The Warrants expire on January 15, 2012. As a result of the acquisition of such Warrants and assuming the exercise of such Warrants in full, K2 would own 34,054,600 common shares, representing approximately 25.73% of the issued and outstanding common shares of TG World.
The Warrants were issued to K2 in connection with the closing of a secured loan facility in the amount of $7.5 million. 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 TG World through market transactions, private agreements or otherwise.
SOURCE K2 Principal Fund L.P.
For further information: For further information: Dan Gosselin, The K2 Principal Fund L.P., (416) 365-2155