Business
Augen Capital Corp. - Rollover of Limited Partnership 2005 completed
Augen Capital Corp. - Rollover of Limited Partnership 2005 completed.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\nShares outstanding 35,915,615\n\n\nTORONTO, Feb. 9 /CNW/ - Augen Limited Partnership 2005 (the \"Partnership\"\nCUSIP No. 051048106), announces that on January 31, 2007 it completed the\nrollover of the Partnership assets to Augen Resource Strategy Fund Inc. (the\n\"Fund\"), an open-ended mutual fund corporation. The assets of the Partnership\nwere transferred to the Fund on December 29, 2006 in consideration for Class B\nShares (the \"Class B Shares\") of the Fund, on a tax-deferred basis. The Class\nB Shares of the Fund were distributed to the limited partners of the\nPartnership effective January 31, 2007.\n\n\nOn the rollover date, the net asset value per Partnership unit was\n$150.84, net of the performance allocation to the General Partner in\naccordance with the partnership agreement and the Class B shares were issued\nat $11.20 per Share. Accordingly, limited partners of the Partnership will\nreceive approximately 13.4664 Class B Shares of the Fund for each Partnership\nunit held.\n\n\nThe Class B Shares may be redeemed beginning February 28, 2007, the next\nregularly scheduled monthly Valuation Date of the Fund. Augen Limited\nPartnership 2007 (\"LP2007\"), a flow-through offering, is now available for\nsubscription, and the redemption proceeds from Class B Shares may be applied\nto the purchase of the LP 2007 offering.\n\n\nThe investment objective of the Fund is to provide long-term capital\ngrowth, by investing primarily in equity securities of senior and emerging\nCanadian resource companies. For further information on the Fund, including\nthe Fund's offering memorandum and weekly net asset values, you can visit the\nAugen website at www.augencc.com.\n\n\nAbout Augen\n\n\nBased in Toronto, Augen is a merchant bank specializing in the financing\nof, and investment in, early stage resource companies and is an industry\nleader in tax-advantaged flow-through investments in Canada's resource\nsectors. Augen has raised over $40 million in flow-through limited partnership\nassets in the last four years. The Company now has under management a core\nportfolio of primarily emerging resource stocks, two Resource Flow-Through\nLimited Partnerships, and its mutual fund, Augen Resource Strategy Fund.\n\n\nFor more information on Augen, visit our website at www.augencc.com\n\n\nThe Company's public documents may be accesse...