The K2 Principal Fund L.P. acquires common shares of Absolut Resources Corp.

    TORONTO, Feb. 29 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that
it has acquired an additional 676,700 common shares (the "Common Shares") of
Absolut Resources Corp. ("Absolut Resources"). As a result of the acquisition
of such shares, K2 owns 3,736,500 Common Shares, representing approximately
12.88% of the issued and outstanding Common Shares of Absolut Resources.
    The Common Shares were purchased by K2 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 Absolut Resources through market transactions,
private agreements or otherwise.

For further information:

For further information: Dan Gosselin, The K2 Principal Fund L.P., (416)

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