LDRXF.. $0.4821 Partial Conversion of Debentures
PRESS RELEASE: Leader Energy Services Announces Partial Conversion of Debentures
Dow Jones and Company, Inc. - Jan 04 at 08:00
Company Symbols: OtherOTC:LDRXF, TorontoVE:LEA
CALGARY, ALBERTA--(Marketwire - Jan. 4, 2011) - Leader Energy Services Ltd. ( TSX VENTURE:LEA) ("Leader" or the "Company") announced that it has received additional exercise notices for partial conversions of its outstanding senior unsecured convertible debentures in the face amount of $1,000,000, or 2,500,000 shares. When these partial conversions are completed, the Company will have 17, 215,000 shares outstanding.
Leader issued $15,000,000 of debentures on February 28, 2007 of which $13,420, 000 remains outstanding. The debentures bear interest at 10% per annum, are convertible at $0.40 per share, and mature on March 31, 2012.
Further information can be found under the Company's listing at www.sedar.com and on the Company's website at www.leaderenergy.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Leader Energy Services Ltd.
Rod Hauser
President & CEO
(403) 265-5400
r.hauser@leaderenergy.com
or
Leader Energy Services Ltd.
Jason Krueger, CFA
Director & Investor Relations
(403) 374-1234
jason@redwood-capital.com
or
Leader Energy Services Ltd.
Graham Reid, CA
VP Finance & CFO
(403) 265-5400
g.reid@leaderenergy.com
www.leaderenergy.com
