CALGARY, ALBERTA--(Marketwire - March 28, 2012) - Leader Energy Services Ltd. ("Leader" or the "Company") (TSX VENTURE:LEA) is pleased to announce that it has provided notice to its secured debt holder that it will be making a $6.1 million principal payment next week. The terms of the debt facility allow pre-payments without penalty. After this payment of the net proceeds from the bought-deal financing which closed earlier this week, the total principal amount owing on this debt facility will be $8.9 million. This debt reduction will save Leader approximately $730,000 in cash interest per year.
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.
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.
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.