Northfield Capital Corporation
TSX VENTURE : NFD.A

Northfield Capital Corporation

August 25, 2009 14:06 ET

Northfield Capital Corp. Acquires Securities of White Pine Resources Inc.

TORONTO, ONTARIO--(Marketwire - Aug. 25, 2009) - Northfield Capital Corporation ("Northfield") (TSX VENTURE:NFD.A) announces that it has acquired ownership of an aggregate of 222,222 "flow-through" common shares (the "Acquired Shares") of White Pine Resources Inc. ("WPR") on August 25, 2009. As at August 25, 2009, immediately following the acquisition of the Acquired Shares, such Acquired Shares represented approximately 1% of the issued and outstanding common shares of WPR.

As a result of this transaction, Northfield owns and controls an aggregate of 1,704,222 common shares of WPR and 810,000 convertible securities of WPR (the "Convertible Securities"), representing approximately 7.3% of the issued and outstanding common shares of WPR immediately following the transaction described above (or approximately 10.5% calculated on a partially diluted basis, assuming the exercise of the 810,000 Convertible Securities only). Following completion of this transaction, Northfield together with its joint actors own and control an aggregate of 1,960,672 common shares of WPR (of which 1,704,222 common shares are owned by the Offeror directly and 256,450 common shares are owned by its joint actors) and 1,162,500 Convertible Securities (of which 810,000 Convertible Securities are owned by the Offeror directly and 352,500 Convertible Securities are owned by its joint actors), representing approximately 8.5% of the issued and outstanding common shares of WPR immediately following the transaction described above (or approximately 12.8% calculated on a partially diluted basis, assuming the exercise of the 1,162,500 Convertible Securities only).

The Acquired Shares were acquired in a private placement transaction which did not take place through the facilities of any market for WPR's securities. This transaction was effected for investment purposes and Northfield and its joint actors could increase or decrease their investments in WPR at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor. The Acquired Shares were acquired for a purchase price of Cdn$0.45 per Acquired Share for aggregate consideration of approximately $99,999.90, all pursuant to the exemption contained in Section 2.3 of National Instrument 45-106 on the basis that Northfield is an accredited investor as defined in such instrument.

Additional Information

A copy of the applicable securities report filed in connection with the matters set forth above may be obtained through Northfield's offices by contacting:

Brent Peters
Northfield Capital Corporation
141 Adelaide Street West
Suite 301
Toronto, ON
M5H 3L5

Tel: (416) 628-5901
Fax: (416) 628-5911

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 RELEASE.

Contact Information

  • Northfield Capital Corporation
    Brent Peters
    (416) 628-5901
    Fax: (416) 628-5911