Business
Augen Capital Corp. Announces Share for Debt
Augen Capital Corp. Announces Share for Debt.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n\nTORONTO, May 9 /CNW/ - Augen Capital Corp. (the \"Company\" or \"Augen\")\n(TSX-V: AUG) announces today that it has completed a share for debt\ntransaction pursuant to which the Company will issue 533,333 common shares at\n$0.18 per share to settle a debt owed by the Company of $96,000.\nThe Company had 28,004,424 common shares issued and outstanding prior to\nthis transaction. Mr. Mason previously held 3,012,464 shares and will, after\nthis transaction, hold 3,512,464 shares or 12.3% of the outstanding shares of\nthe Company. The shares are subject to a four-month hold period expiring\nSeptember 8, 2006.\n\nAbout Augen Capital\n\nBased in Toronto, Augen is a merchant bank specializing in the financing\nof primarily early stage resource companies and is an industry leader in \ntax-advantaged flow-through investments in Canada's resource sector. Our\nManaged Products division earns fees related to the limited partnerships and\nmutual funds including setup, due diligence, and annual and performance fees.\nOur Merchant Banking division provides financing and strategic management\nsupport to resource investee companies and strives to maximize net gains\nrealized on its core investment portfolio of emerging resource stocks. Augen\nhas over $30 million in assets under management, including its merchant\nbanking investment portfolio, four resource flow-through limited partnerships,\nand its mutual funds.\n\nFor more information on Augen Capital, visit our website at\nwww.augencc.com\n\nThe company's public documents may be accessed at www.sedar.com\n\n The TSX Venture has not reviewed and does not accept\n responsibility for 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 results and future events could differ materially from\nthose anticipated in such statements. Important factors that could cause\nactual results to differ materially from the Company's expectations are\ndisclosed in the Company's documents filed from time to tim...