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Augen Capital Calls Special Meeting of Shareholders of Augen Gold
Shares outstanding: 36,615,615 TORONTO, Jan. 14 /CNW/ - Augen Capital Corp. (Augen Capital) (TSX-...
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[{"type":"text","content":"\n\n\n\nShares outstanding: 36,615,615\n\n\nTORONTO, Jan. 14 /CNW/ - Augen Capital Corp. (Augen Capital) (TSX-V: AUG)\nannounced today it will convene a Special Meeting of Shareholders of Augen\nGold Corp. (Augen Gold) (TSX-V: AUJ), that will take place on Tuesday, March\n10, 2009 at 10:00 a.m. EST at the offices of law firm Stikeman Elliot LLP.\n\n\nAugen Capital requisitioned the Directors of Augen Gold on December 18,\n2008 to call a Special Meeting of its shareholders. However, the Board of\nAugen Gold failed to do so in the time permitted to call a meeting and did not\nannounce the creation of a special committee to consider the requisition until\nJanuary 9, 2009. As a result of the Board's failure to act in accordance with\nsecurity regulations, Augen Capital is acting on its right to convene the\nSpecial Meeting of Shareholders of Augen Gold.\n\n\nAugen Capital will issue a proxy circular shortly and in time to allow\nAugen Gold shareholders to consider the business to be brought before the\nmeeting.\n\n\nAt the Special Meeting, shareholders of Augen Gold will be asked to vote\non the following:\n\n\n- A debt-to-share conversion whereby Augen Gold would issue to Augen\n Capital 8,974,808 common shares in Augen Gold at an issue price of\n $0.125 per share, which would repay the $1.1 million outstanding debt\n owed to Augen Capital on terms highly favourable to Augen Gold\n shareholders and conserve Augen Gold's cash position;\n\n- The removal of the current Directors of Augen Gold, to be replaced by\n the following new slate of Directors:\n\n Tony Busseri - A Director of Augen Capital, Mr. Busseri has held a\n variety of senior executive positions and has served on a number of\n Boards of Directors. He is currently Executive Vice President of\n Hanfeng Evergreen Inc (TSX: HF) the largest producer of slow and\n controlled release fertilizers in China. Previously, Mr. Busseri\n served as the President and Chief Executive Officer of EnGlobe Corp.\n (TSX: EG) and is the co-founder of Growth Equity Partners, an\n advisory firm specializing in transformational business initiatives\n support for small and medium sized public and private companies. He\n also co-founded Waste Services Inc. (NASDAQ:WSII) and was its\n Chairman of the Board of Directors and Chief Executive Officer from\n June 1997 to August 2000. Prior to that, Mr. B...