Salida Wealth Preservation (Listed) Fund Announces Initial Public Offering

TORONTO, ONTARIO--(Marketwire - April 20, 2011) -

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Salida Capital LP ("Salida") is pleased to announce that the Salida Wealth Preservation (Listed) Fund (the "Fund") (TSX:SWP.UN) has completed an initial public offering (the "Offering") of 4,000,000 units (the "Units") of the Fund at a price of $10.00 per Unit for aggregate gross proceeds of $40,000,000. The Fund has granted the agents an over-allotment option exercisable in whole or in part for a period of 30 days following the closing of the Offering to acquire up to an additional 600,000 Units (the "Over-Allotment Option"). The Units are listed and posted for trading on the Toronto Stock Exchange under the symbol "SWP.UN."

The Fund is a closed-end investment fund established under the laws of the Province of Ontario. The Fund's investment objectives are to: (i) generate attractive levels of capital appreciation with lower levels of volatility than the S&P/TSX Composite index; and (ii) preserve capital, by gaining exposure to the Salida Wealth Preservation Portfolio which invests primarily in securities of natural resource issuers.

The offering is being conducted by a syndicate of agents led by CIBC that includes National Bank Financial Inc., TD Securities 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.

Capitalized terms used in this press release and not otherwise defined have the meanings given thereto in the prospectus of the Fund dated March 30, 2011.

About Salida Capital LP:

Salida is an investment management firm based in Toronto and has approximately $800 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 energy, precious metals, base metals and agriculture. Mr. Guy co-founded Salida in 2001, following a career at investment management firms including First Marathon Securities Limited. Mr. Guy has over 17 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.