The K2 Principal Fund L.P. Acquires Shares in Wesana Health Holdings

TORONTO, May 7, 2021 /CNW/ - The K2 Principal Fund L.P. ("K2") Corp announces it is has acquired shares and warrants of Wesana Health Holdings Inc. ("WESA"). In connection with the closing of the reverse takeover of Debut Diamonds Inc by Wesana Health Holdings Inc., K2 has acquired a total of 1,204,765 subordinated voting ("SV") shares and 476,150 warrants ($2.60 expiry March 2023) to purchase an additional 476,150 subordinated voting shares.

Assuming the exercise of the warrants K2 would own 1,680,915 subordinated voting shares representing 12.9% of the SV shares outstanding, on a partially diluted basis. The shares and warrants were purchased through two private placements with Wesana Health for a total cost of $ 2,319,355 Canadian dollars.

Wesana Health's head office is located at 13236 West Chicago, Bloomington Trail. Homer Glen IL 60491. K2's office is located at 2 Bloor Street West, Suite 801, Toronto, Ontario, M4W 3E2. It was formed under the laws of the Province of Ontario and is engaged in the business of investing in securities. K2 & Associates Investment Managements Inc. ("K2 & Associates") is an Ontario based hedge fund who is the manager of The K2 Principal Fund L.P.

SOURCE The K2 Principal Fund L.P.

and to obtain a copy of the Early Warning Report, please contact: Daniel Gosselin, The K2 Principal Fund L.P., [phone]