Business
Augen Capital Corp. and Donald Decker Increase Holdings in Staccato Gold Resources
Augen Capital Corp. and Donald Decker Increase Holdings in Staccato Gold Resources
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\nFeb. 8, 2010 (Canada NewsWire Group) -- TORONTO, Feb. 8 /CNW/ -- Further to the previously issued news release on February 1, 2010, Augen Capital Corp. (TSXV: AUG), and its wholly owned subsidiary Aumerco Ltd., (collectively \"Augen\" or the \"Concerned Shareholder\") announce that they have increased their holdings in Staccato Gold Resources Ltd. (\"Staccato\" or the \"Company\") (TSXV: CAT) by 979,500 common shares through the facilities of the Toronto Venture Exchange (\"TSXV\") for investment purposes at an average price, including commission, of $0.0957 per share. As a result, Augen's total common share holdings in Staccato amount to 7,358,000 or approximately 7.4 percent of the total shares issued and outstanding.As disclosed in Augen's January 22, 2010 news release, Donald Decker, a professional geologist and a former member of the board of directors of Staccato, and Century Gold LLC, a holding company controlled by Donald Decker, (collectively the \"Decker Group\") entered into an agreement with the Concerned Shareholder to vote the Decker Group's shares in support of removing and replacing the current board of directors of Staccato with those nominees to be proposed by the Concerned Shareholder in connection with a meeting of Staccato shareholders requisitioned by the Concerned Shareholder. The Decker Group acquired an additional 500,000 common shares of Staccato through the facilities of the TSXV at an average price, including commission, of USD$0.1104 per share.The Concerned Shareholder and the Decker Group in aggregate now own 13,817,334 common shares or approximately 13.8 percent of the total issued and outstanding shares of Staccato.The Concerned Shareholder and the Decker Group believe the common shares of Staccato are undervalued. The Concerned Shareholder and/or the Decker Group may acquire ownership or control over additional Staccato shares depending on market conditions and other strategic considerations.NoteThis press release is not, and is not to be construed to be, a solicitation of proxies. Prior to and in connection with the Meeting, Augen intends to file and distribute to all Staccato shareholders (as well as to the Company, its directors and its auditors) an information circular that contains detailed information relating to the Concerned Shareholder's nominees, the solicitation of proxies, the...