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Augen Capital Welcomes Results From Special Meeting of Shareholders of Augen Gold
AUGEN GOLD AND AUGEN CAPITAL TO PROCEED WITH DEBT-TO-SHARES CONVERSION AT $0.15 PER SHARE Shares ...
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[{"type":"text","content":"\n\n\n\nAUGEN GOLD AND AUGEN CAPITAL TO PROCEED WITH DEBT-TO-SHARES CONVERSION AT\n$0.15 PER SHARE\n\nShares outstanding: 36,615,615\n\n\nTORONTO, March 16 /CNW/ - Augen Capital Corp. (Augen Capital) (TSX-V:\nAUG) is pleased with the results of the Special Meeting of Shareholders of\nAugen Gold Corp. (Augen Gold) (TSX-V: AUJ), that took place on Friday, March\n13.\n\n\nAt the Special Meeting, shareholders of Augen Gold voted in favour of four\nresolutions:\n\n - Fixing the number of Directors of Augen Gold at four;\n\n - Removing former Directors Joseph Leeder and James Stephenson;\n\n - Electing independent Directors Tim Peterson, Louis Sapi and James\n Sbrolla, who join incumbent Director J. David Mason on the Board;\n\n - Overwhelmingly approving a debt-to-shares conversion, subject to TSXV\n approval, in which Augen Gold will issue common shares a deemed price\n of $0.15 per share to Augen Capital, repaying the $1.1 million\n outstanding debt owed to Augen Capital, while conserving Augen Gold's\n cash position.\n\n\n"We are pleased to move past the events that led us to calling this\nmeeting and causing this vote. Shareholders of Augen Gold made a number of\nexcellent decisions at the Special Meeting," said J. David Mason, Chairman of\nAugen Capital, the founding and largest registered shareholder of Augen Gold\nas well as its largest lender. "We believe in the longer-term prospects of\nAugen Gold and believe that the new Board will represent shareholders well."\n\n\nAbout Augen Capital\n\n\nAugen Capital Corp. ("Augen") (TSX-V: AUG) is a Toronto-based public\nmerchant bank specializing in the financing of and investment in emerging\nresource companies. Augen manages a merchant banking hard dollar portfolio of\nemerging resource stocks including private companies and is an industry\nperformance leader in tax-advantaged flow-through investments in Canada's\nresource sector having raised over $80 million in flow-through limited\npartnership assets since inception. Augen holds over one hundred gold, base\nmetals and uranium exploration and development public and private companies\nwith direct holdings in its merchant banking portfolio and consulting assets\nin flow-through limited partnerships.\n\n\nFor more information on Augen Capital, visit our website at\nwww.augencc.com\nThe Company's public d...