Salida Wealth Preservation (Listed)
TSX : SWP.UN

October 03, 2011 14:58 ET

Salida Wealth Preservation (Listed) Fund Announces Normal Course Issuer Bid for Units

TORONTO, ONTARIO--(Marketwire - Oct. 3, 2011) -

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Salida Capital LP ("Salida") (TSX:SWP.UN) announced today acceptance by the Toronto Stock Exchange ("TSX") of the Notice of Intention filed by Salida Wealth Preservation (Listed) Fund (the "Fund") to make a Normal Course Issuer Bid (the "NCIB").

The Board of Directors of Salida Capital GP Ltd., the general partner of the manager of the Fund, believes that such purchases are a constructive use of the Fund's resources and are in the best interests of the Fund. Pursuant to the NCIB, the Fund proposes to purchase, from time to time, if it is considered advisable, up to 406,260 Units of the Fund, representing approximately 10% of the public float. The Fund has issued and outstanding 4,078,000 Units as of the date hereof. The Fund will not purchase in any given 30-day period, in the aggregate, more than 81,560 Units, being 2% of the issued and outstanding Units as of the date hereof. Purchases of Units under the NCIB may commence on October 5, 2011. The prices at which Units will be purchased may not exceed the net asset value of such Units as at the prior valuation date for such Units. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Units purchased by the Fund pursuant to the NCIB will be cancelled. The NCIB will expire on October 4, 2012.

About Salida Capital LP:

Salida Capital is a natural resources investment management firm based in Toronto. Salida and its experienced team of investment professionals specialize in natural resource investing with key sectors of focus being energy, precious metals, base metals and agriculture. Salida takes an active, opportunistic management style when investing in private, small, mid and large cap resource companies. The firm was founded in 2001 by Daniel Guy, Chief Investment Officer, following a career at investment management firms including First Marathon Securities Limited. Mr. Guy brings more than 17 years of natural resources investment management experience to the firm, with extensive expertise in portfolio management, equity research and trading. Brian Trenholm, Portfolio Manager of the Wealth Preservation Fund, joined Salida in 2004 and has over 17 years of industry experience. Prior to joining Salida, Mr. Trenholm served as a portfolio manager with Agilerus Investment Management Limited.

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