TORONTO, Feb. 18 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that
it has acquired 2,827,100 common shares of Sprott Molybdenum Participation
Corporation ("SMP") on February 17, 2009 for an aggregate purchase price of
approximately CDN$4.5 million (the "SMP Purchase"). Prior to the SMP Purchase,
K2 owned an aggregate of 2,599,800 common shares of SMP. As a result of the
SMP Purchase, K2 currently owns 5,426,900 common shares, representing
approximately 13.76% of the issued and outstanding common shares of SMP.
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 SMP through market
transactions, private agreements or otherwise.
For further information:
For further information: Dan Gosselin, The K2 Principal Fund L.P., (416)