Salida Wealth Preservation (Listed) Fund Announces Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Feb. 28, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Salida Capital LP ("Salida") is pleased to announce that a preliminary prospectus in connection with an initial public offering of units for the Salida Wealth Preservation (Listed) Fund (the "Fund") has been filed with, and a receipt therefor has been issued by, the securities regulatory authority in each of the provinces and territories of Canada. The Fund is a closed-end investment fund established under the laws of the Province of Ontario which proposes to issue units (the "Units") at a price of $10.00 per Unit.

The Fund's investment objectives are to:

1. generate attractive levels of capital appreciation with lower levels of volatility than the S&P/TSX Composite index; and

2. preserve capital.

The Fund will seek to achieve its investment objectives by obtaining economic exposure to the Salida Wealth Preservation Portfolio (the "Portfolio") managed by Salida. The Portfolio will invest primarily in equity securities of natural resources focused issuers, specifically those involved in energy, precious metals and base metals.

The offering is being conducted by a syndicate of agents led by CIBC that includes National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., HSBC Securities (Canada) Inc., Macquarie Private Wealth Inc., Wellington West Capital Markets Inc., Raymond James Ltd., Desjardins Securities Corporation, Dundee Securities Ltd., Mackie Research Capital Corporation and Manulife Securities Incorporated.

A preliminary prospectus containing important information relating to the Units has been filed with securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from your registered financial advisor. There will not be any sale or any acceptance of an offer to buy the Units until a receipt for the final prospectus has been issued.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Salida Capital LP:

Salida is an investment management firm based in Toronto and has over $750 million of assets under management. Salida and its experienced team of investment professionals led by Daniel Guy and Brian Trenholm specialize in natural resource investing with key sectors of focus being precious metals, base metals, agriculture and energy. Mr. Guy co-founded Salida in 2001, following a career at investment management firms including First Marathon Securities Limited. Mr. Guy has over 16 years of industry and alternative investment management experience with extensive expertise in equity research and trading. Mr. Trenholm joined Salida in 2004 and has over 17 years of industry experience. Prior to joining Salida, he served as a portfolio manager with Agilerus Investment Management Limited.