Business
Augen Capital Corp. - Closing of $1,000,000 non-brokered private placement
Augen Capital Corp. - Closing of $1,000,000 non-brokered private placement.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n\nShares outstanding: 28,857,282\n\nTORONTO, June 29 /CNW/ - Augen Capital Corp. (\"Augen\") (TSX-V: AUG)\nwishes to announce that it has completed a non-brokered private placement of\n3,333,334 units at $0.30 for gross proceeds of $1,000,000.\nEach unit consists of one common share at a price of $0.30 and one\nnon-transferable common share purchase warrant (the \"warrant\"). Each full\nwarrant entitles the holder to purchase one additional common share (the\n\"warrant share\") of the Company at a price of $0.35 per warrant share for a\nperiod of twenty four months from the closing date. Subject to the approval of\nthe TSX Venture Exchange, Augen will pay finder's fees of up to 5% cash and 2%\nbroker warrants to arm's length persons. The common shares and warrants are\nsubject to a four-month hold period.\n\"Augen decided to limit the total funds raised to $1 million as it is\ncurrently examining several alternate financings through new strategic\npartnerships which would not be dilutive to existing shareholders. Augen\nexperienced an exceptional first quarter in fiscal 2006 with substantial\ncapital gains in its proprietary merchant banking portfolio. The merchant\nbanking portfolio is becoming substantial and is improving Augen's ability to\nsupport resource deal-flow,\" said J. David Mason, chairman of Augen.\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 administration, including its merchant\nbanking investment portfolio, resource flow-through limited partnerships, and\nAugen Resource Strategy Fund.\nFor more information on Augen Capital, visit our website at\nwww.augencc.com\nThe company's public documents may be accessed at www.sedar.com\n\n>\n\nThis news release contains certain \"Forward-Looking Statem...