The K2 Principal Fund L.P. Acquires Common Shares of Powertech Uranium Corp.

TORONTO, July 25, 2012 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that it has acquired 20,150,000 common shares of Powertech Uranium Corp. ("PWE"). As a result of the acquisition of such Shares the Partnership now owns approximately 19.51% of the issued and outstanding common shares of Powertech Uranium Corp (the "Common Shares").

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 PWE through market transactions, private agreements or otherwise.

SOURCE: K2 Principal Fund L.P.

For further information:

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

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