Northfield Capital Corp. Acquires Securities of White Pine Resources Inc.
August 25 2009 - 2:06PM
Marketwired
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:
Contacts: Northfield Capital Corporation Brent Peters (416)
628-5901 (416) 628-5911 (FAX)
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