Business
Augen Capital Announces Changes to Board
Shares outstanding: 36,515,615 TORONTO, April 28 /CNW/ - Augen Capital Corp. (TSX-V AUG) today an...
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\nShares outstanding: 36,515,615\n\n\nTORONTO, April 28 /CNW/ - Augen Capital Corp. (TSX-V AUG) today announced\nan agreement between the Company, Founder and Chairman J. David Mason and the\nother members of the Board of Directors that reconstitutes the Board and\nconfirms the appointment of a new Chief Executive Officer.\n\n\nUnder the terms of the agreement J. David Mason will remain Chairman of\nthe Board of Augen and, effective April 25, 2008:\n\n\n- Directors George Elliott, Michel LeBel and Rhoderic Whyte, have\n voluntarily resigned from the Board of Directors;\n\n- George Elliott has voluntarily resigned as Chief Executive Officer;\n and\n\n- Director Michael Fowler has been appointed Interim CEO.\n\n\nThe Management Nominees for election to the Board of Directors at the\nMay 29th shareholder meeting will comprise J. David Mason and Michael Fowler\nas well as independent directors Tony Busseri, James Kelleher, Roger Muelhaupt\nand Hugh Squair. Further information about the nominees will be provided in\nthe management information circular to be distributed to all shareholders\nprior to the Annual and Special Meeting;\n\n\nJ. David Mason will not proceed with his intention of filing a proxy\ncircular. Mr. Mason acknowledges that the statements made in his press release\nof April 22, 2008 are the subject of disagreement between himself and other\nmembers of the Board of Directors. "I am satisfied that this agreement amongst\nall of the Directors has been made in good faith," Mr. Mason said. "I am\npleased to recommend Michael Fowler as our new CEO."\n\n\nAbout Augen Capital\n\n\nAugen Capital Corp. is a Toronto-based public merchant bank specializing\nin the financing of and investment in emerging resource companies. Augen\nmanages a merchant banking hard dollar portfolio of emerging resource stocks\nincluding private companies and is an industry performance leader in\ntax-advantaged flow-through investments in Canada's resource sector having\nraised over $58 million in flow-through limited partnership assets since\ninception. Augen currently has $38 million in flow-through investment\nconsulting assets, including $36 million raised since 2007 by Augen and its\nsales and distribution partner. Augen holds over one hundred gold, base metals\nand uranium exploration and development public and private...