CALGARY, ALBERTA--(Marketwire - March 27, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Leader Energy Services Ltd. ("Leader" or the "Company") (TSX VENTURE:LEA) is pleased to announce that it has completed its previously announced bought deal short form prospectus offering (the "Offering") entered into with AltaCorp Capital Inc. (the "Underwriter"). Pursuant to the Offering, Leader issued an aggregate of 9,790,000 common shares of the Company ("Common Shares") at an issue price of $0.70 per Common Share, including 1,218,000 Common Shares pursuant to the partial exercise of the over-allotment option by the Underwriter, for aggregate gross proceeds of $6,853,000.
The net proceeds of the Offering will be used to reduce indebtedness and for general corporate purposes.
Leader Energy Services Ltd. provides well stimulation services in western Canada. Further information on Leader can be found under the Company's listing at www.sedar.com and on the Company's website at www.leaderenergy.com.
Forward-looking Information
This press release contains certain statements or disclosures relating to the Company that are based on the expectations of the Company as well as assumptions made by and information currently available to the Company which may constitute forward-looking information under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking information.
This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
