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

TORONTO, ONTARIO--(Marketwire - Oct. 22, 2012) -

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Salida Capital LP ("Salida") announced today acceptance by the Toronto Stock Exchange ("TSX") of the Notice of Intention filed by Salida Wealth Preservation (Listed) Fund (the "Fund") (TSX:SWP.UN) to make a Normal Course Issuer Bid (the "NCIB"). The Fund's previous NCIB expired on October 4, 2012, under which the Fund purchased 21,700 units ("Units") of the Fund through open market transactions on the TSX at a volume average weighted price per Unit of $7.4378.

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 402,210 Units of the Fund, representing approximately 10% of the public float. The Fund has issued and outstanding 4,056,300 Units as of October 15, 2012. The Fund will not purchase in any given 30-day period, in the aggregate, more than 81,126 Units, being 2% of the issued and outstanding Units as of the date hereof. Purchases of Units under the NCIB may commence on October 24, 2012. 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 23, 2013.

About Salida Capital LP:

Founded in 2001, 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. Brian Trenholm, Portfolio Manager of the Wealth Preservation Fund, joined Salida in 2004 and has over 18 years of industry experience. Prior to joining Salida, Mr. Trenholm served as a portfolio manager with Agilerus Investment Management Limited. A classic value investor, Brian combines top down and bottom up management styles with an emphasis on resource sectors.