The Leader brand was owned by Victoria Precision, a Montreal based manufacturing company established in 1941. Cycle production commenced circa 1946, with tricycles. The adult bicycle line was introduced in the very early 1980s. Initially, the adult bicyckes were contract manufactured in Japan but within a couple of years were being manufactured in Montreal.

The subject bicycle appears to be a mid-1980s grand touring model. It has Sanshin Gyro-Master hubs, what appears to be SunTour Mountech derailleurs (the ones with a high seal failure rate), a decent half-step plus granny crankset and a heavy duty, 40 spoke rear wheel. With these features, it should be at least mid-range and possibly even high end, depending on the tubeset.