Business
Augen announces Limited Partnership 2005 Rollover
Augen announces Limited Partnership 2005 Rollover.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n\nShares outstanding: 32,400,614\n\nTORONTO, Nov. 7 /CNW/ - Augen Capital Corp. (\"Augen\") (TSX-V: AUG) is\npleased to announce that Augen Limited Partnership 2005 (\"LP2005\", CUSIP No.\n051048106) is proposing to transfer its assets to Augen Resource Strategy Fund\n(\"Augen RSF\"), a mutual fund corporation, on or about December 29, 2006 in\nexchange for redeemable mutual fund shares having equal value. The exchange\nratio will be based on the net asset value of LP2005 and Augen RSF on the day\nimmediately prior to transfer.\nLP2005 will be dissolved within 60 days of the anticipated transfer of\nassets with the result that limited partners of LP2005 will become\nshareholders of Augen RSF on a tax-deferred rollover basis. Investors will\nthen be able to redeem their mutual fund shares or retain them for longer-term\ngrowth. This transaction is subject to approval by limited partners of LP2005.\n\"We are pleased to announce rollover liquidity to investors in LP2005\nwithin 12 months of the closing of the prospectus offering,\" said Cletus Ryan,\nVice President of Sales, Augen.\nAugen is planning the launch of the 2007 Augen Flow-Through Limited\nPartnership offering in early 2007.\n\nAbout Augen Capital\n\nBased in Toronto, Augen Capital is a merchant bank specializing in the\nfinancing of, and investment in, early stage resource companies and is an\nindustry leader in tax-advantaged flow-through investments in Canada's\nresource sectors. Augen has raised over $35 million in flow-through limited\npartnership assets in the last four years. The Company now has under\nmanagement a core portfolio of primarily emerging resource stocks, two\nResource Flow-Through Limited Partnerships, and its mutual fund, Augen\nResource Strategy Fund.\n\nThe TSX Venture has not reviewed and does not accept responsibility\nfor the adequacy or accuracy of this release.\n-------------------------------------------------------------------------\nThis news release contains certain \"Forward-Looking Statements\" within\nthe meaning of Section 21E of the United States Securities Exchange Act of\n1934, as amended. All statements, other than statements of historical fact,\nincluded herein are forward-looking statements that involve various risks and\nuncertainties. There can be no assurance that such statements will prove to be\naccurate, and actual...