Leader Energy Services Ltd.
TSX VENTURE : LEA

Leader Energy Services Ltd.

December 17, 2012 16:02 ET

Leader Energy Services Appoints Director, Grants Options

CALGARY, ALBERTA--(Marketwire - Dec. 17, 2012) - Leader Energy Services Ltd. (TSX VENTURE:LEA) ("Leader" or the "Company") today announced the appointment of Douglas A. Cutts, CA to its Board of Directors. Mr. Cutts is an independent board member, and will serve on the Company's audit committee.

Mr. Cutts previously worked for 10 years with Pulse Seismic Inc., serving as President & CEO and a Director from 2007 to 2012, and as Vice President & CFO from 2002 to 2007. Prior thereto he was Vice President & CFO and a Director of Command Drilling Corporation; prior thereto he was President & COO and a Director of IPEC Ltd.; and prior thereto he was President & COO and a Director of Lynx Energy Services Ltd. Mr. Cutts received a BComm from the University of Calgary, and received his Chartered Accountant designation in 1976.

The Board of Directors believes that Mr. Cutts has the expertise to make a valuable contribution to guiding Leader's future, and appreciates having the benefit of his insight, leadership and experience.

The Company announced that it has granted a total of 890,000 stock options at an exercise price of $0.30 per share to directors, officers and employees of the Corporation. The options will expire on December 17, 2017, and are subject to 3 year vesting provisions.

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.

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.

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