Northfield Capital Corp. Acquires Securities of White Pine Resources Inc.
December 09 2010 - 3:50PM
Marketwired
Northfield Capital Corporation ("Northfield") (TSX VENTURE: NFD.A)
announces that it has acquired ownership of an aggregate of 600,000
units (the "Units") of White Pine Resources Inc. ("WPR" or the
"Company") on December 9, 2010, each such Unit consisting of one
common share of WPR (each, an "Acquired Share") and one-half of one
common share purchase warrant (each whole such share purchase
warrant, a "Warrant"), with each Warrant entitling the holder
thereof to acquire one additional common share of the Company,
representing approximately 2.2% of the issued and outstanding
common shares of the Company as at December 9, 2010 (or
approximately 3.3% on a partially diluted basis assuming exercise
of the Warrants only).
Upon completion of the transaction described above, Northfield
owns and controls an aggregate of 2,304,222 common shares of the
Company and 1,100,000 convertible securities of the Company,
inclusive of the Warrants (the "Convertible Securities"),
representing approximately 8.4% of the issued and outstanding
common shares of the Company immediately following the transaction
described above (or approximately 12.0% calculated on a partially
diluted basis, assuming the exercise of the 1,100,000 Convertible
Securities only). Upon completion of the transaction described
above, Northfield, together with its joint actors, own and control
an aggregate of 2,831,672 common shares of the Company (of which
2,304,222 common shares are owned by Northfield directly and
527,450 common shares are owned by its joint actors) and 1,450,000
Convertible Securities (of which 1,100,000 Convertible Securities
are owned by Northfield directly and 350,000 Convertible Securities
are owned by its joint actors), representing approximately 10.4% of
the issued and outstanding common shares of the Company immediately
following the transaction described above (or approximately 14.9%
calculated on a partially diluted basis, assuming the exercise of
the 1,450,000 Convertible Securities only).
The Units 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 Units were acquired for a purchase price
of Cdn$0.25 per Unit for aggregate consideration of $150,000, 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:
Brent Peters
Northfield Capital Corporation
141 Adelaide Street West
Suite 301
Toronto, ON
M5H 3L5
Tel: (416) 628-5901
Fax: (416) 628-5911
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Northfield Capital Corporation Brent Peters (416)
628-5901 (416) 628-5911 (FAX)
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