TORONTO, Sept. 15 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that it has acquired common shares of Paramax Resources Ltd. (PXM). As a result of the acquisition of such shares, K2 owns 4,770,000 common shares, representing approximately 10.54% of the issued and outstanding common shares of PXM.
The common shares were purchased by K2 in the open market on the Toronto Stock 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 PXM 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