Business
Augen announces $ 3,000,000 non-brokered private placement
Augen announces $ 3,000,000 non-brokered private placement.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n\nShares outstanding: 28,857,282\n\nTORONTO, June 1 /CNW/ - Augen Capital Corp. (TSX-V: AUG) (the \"Company\")\nis pleased to announce a non-brokered private placement to raise $3 million,\nconsisting of up to a total of ten million shares in the capital stock of the\nCompany at a price of $0.30 per unit. Each unit consists of one common share\nand one non-transferable common share purchase warrant (the \"warrant\"). Each\nwarrant entitles the holder to purchase one additional common share (the\n\"warrant share\") in the Company at a price of $0.35 per warrant share for a\nperiod of twelve months following the closing date. In the event the common\nshares of the Company trade at or above $0.50 for a period of 22 consecutive\ntrading days, the Company has the right to accelerate the expiry date of the\nterm of the warrants. The warrants shall expire thirty (30) days following the\ndate notice of acceleration by way of press release is given by the Company.\nThe transaction is subject to regulatory approval. All of the securities\nissued under this private placement will be subject to a four-month hold\nperiod. A finder's fee may be paid with respect to all or a portion of the\nunits by way of cash or broker warrants.\nThe proceeds of the private placement will be used for the expansion of\nmerchant banking activities and/or general working capital purposes. The\nsecurities to be issued under this agreement do not result in a change in\ncontrol or a control voting block.\n\nAbout Augen Capital\n\nBased in Toronto, Augen is a merchant bank specializing in the financing\nof primarily early stage resource companies and is an industry leader in\ntax-advantaged flow-through investments in Canada's resource sector. Our\nManaged Products division earns fees related to the limited partnerships and\nmutual funds including setup, due diligence, and annual and performance fees.\nOur Merchant Banking division provides financing and strategic management\nsupport to resource investee companies and strives to maximize net gains\nrealized on its core investment portfolio of emerging resource stocks. Augen\nhas over $30 million in assets under management, including its merchant\nbanking investment portfolio, four resource flow-through limited partnerships,\nand its mutual funds.\n\nFor more information on Augen Capital, visit our website a...