AUGEN Announces New Auditor

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[{"type":"text","content":"\n\n\n\nShares outstanding: 36,515,615\n\n\nTORONTO, May 2 /CNW/ - Augen Capital Corp. ("Augen") (TSX-V: AUG) today\nannounced that PricewaterhouseCoopers LLP will not be standing for\nreappointment as independent auditors of Augen for the 2008 fiscal period.\nAugen has proposed to change its auditor to Smith Nixon LLP effective as of\nthe close of the Annual and Special Meeting of Shareholders of Augen to be\nheld on May 29, 2008.\n\n\nThere were no reservations in PWC's reports for the audits of Augen's two\nmost recently completed fiscal years, nor for any period subsequent. There are\nno reportable events between Augen and PWC. Each of PWC and Smith Nixon have\nissued letters stating that they agree with the information contained in\nAugen's notice of change of auditors.\n\n\nBoard Appointment\n\n\nOn April 29, 2008, Tony Busseri was appointed to the Board of Directors\nAugen. Mr. Busseri will serve as the Chair of the Company's Audit Committee\nthrough to the Annual and Special Meeting. Mr. Busseri is a Certified\nManagement Accountant and has previously served in the capacities of Chief\nFinancial Officer and audit committee member for other issuers.\n\n\nThe Audit Committee for Augen is currently comprised of Tony Busseri,\nHugh Squair and Daniel Mason.\n\n\nAbout Augen Capital\n\n\nAugen Capital Corp. (TSX-V: AUG) ("Augen") is a Toronto-based public\nmerchant bank specializing in the financing of and investment in emerging\nresource companies. Augen manages a merchant banking hard dollar portfolio of\nemerging resource stocks including private companies and is an industry\nperformance leader in tax-advantaged flow-through investments in Canada's\nresource sector having raised over $58 million in flow-through limited\npartnership assets since inception. Augen currently has $47 million in\nflow-through investment consulting assets, including $28 million raised in\n2007 by Augen and its sales and distribution partner. Augen holds over one\nhundred gold, base metals and uranium exploration and development public and\nprivate companies with direct holdings in its merchant banking portfolio and\nconsulting assets in flow-through limited partnerships.\n\n\nFor more information on Augen Capital, visit our website at\n\n\nwww.augencc.com\n\n\nThe company's public documents may be accessed at www.sedar.com\n\n\...

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