Business
Augen Capital Corp. Increases Holdings in Staccato Gold Resources
Augen Capital Corp. Increases Holdings in Staccato Gold Resources
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\nJan. 27, 2010 (Canada NewsWire Group) -- TORONTO, Jan. 27 /CNW/ -- Pursuant to the previously issued news release on January 22, 2010, Augen Capital Corp. (directly and indirectly through its wholly owned subsidiary Aumerco Ltd.) (collectively, \"Augen\" or the \"Concerned Shareholder\") (TSXV: AUG) announces that it has increased its holdings in Staccato Gold Resources Ltd. (\"Staccato\") (TSXV: CAT) by 170,500 common shares through the facilities of the Toronto Venture Exchange (\"TSXV\") for investment purposes at an average price, including commission, of $0.1082 per share. As a result, Augen's total common share holdings in Staccato amount to 6,378,500 or approximately 6.4 percent of the total shares issued and outstanding.As disclosed in the January 22, 2010 news release, Donald Decker, M. Geo, a professional geologist and a former Director of the Company and Century Gold LLC, a holding company of 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 with those nominees to be proposed by the Concerned Shareholder in connection with a meeting of Staccato shareholders requisitioned by the Concerned Shareholder. The Concerned Shareholder along with the Decker Group, now jointly own 12,337,834 shares or approximately 12.4 percent of the total shares issued and outstanding.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 Meeting, and the Concerned Shareholder's plan to increase shareholder value. All Staccato's shareholders should read the Concerned Shareholder's information circular before making any voting decision.Forward Looking StatementsExcept fo...