Business
Augen flow-through assets increase to record $28.1 million in 2007, double that of 2006
Shares outstanding: 36,290,615 TORONTO, Nov. 8 /CNW/ - Augen Capital Corp. ("Augen") (TSX-V: AUG)...
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\nShares outstanding: 36,290,615\n\n\nTORONTO, Nov. 8 /CNW/ - Augen Capital Corp. ("Augen") (TSX-V: AUG) is\npleased to announce that BluMont Augen Limited Partnership 2007-1 (the\n"Partnership") has completed its initial public offering of units, raising a\ntotal of $16,095,700.\n\n\n"We are pleased with the size of the first BluMont Augen Limited\nPartnership 2007-1 offering. The depth of the syndicate continues to improve\nand now includes several Schedule A banks and key investment dealers involved\nin the flow-through business. The sales and distribution agreement with\nBluMont and its national sales force has resulted in improved sales\npenetration of the product and provides good momentum for future BluMont Augen\nlimited partnership offerings," said Michael G. Fowler, President of\nStructured Products of Augen.\n\n\nThe previous Augen Limited Partnership 2007 offering, closed on April 30,\n2007, raised $12 million bringing the total annual increase in flow-through\nconsulting assets to $28.1 million, almost double the assets raised in 2006.\n\n\nThe Partnership expects to invest approximately 85% of the gross proceeds\nof the offering in flow-through shares of Canadian resource companies involved\nin mineral exploration and approximately 15% of the gross proceeds of the\noffering in flow-through shares of Canadian resource companies involved in oil\nand gas exploration. The Partnership expects investors to receive tax\ndeductions equal to 100% of the amount invested for the 2007 taxation year.\nAlso, investments in flow-through shares of resource companies involved in\nmineral exploration may qualify for investment tax credits.\n\n\nBluMont Capital Corporation ("BluMont"), as portfolio manager, will\nselect flow-through shares and other investments on behalf of the Partnership\nin consultation with Augen Capital Corp. ("Augen"). Augen has been retained by\nthe Partnership and the Portfolio Manager to provide its technical expertise\nand due diligence services in the resource sector to assist the Partnership\nand the Portfolio Manager with the review and selection of suitable investment\nopportunities in resource companies.\n\n\nThe offering was made through a syndicate of investment dealers led by\nScotia Capital Inc., CIBC World Markets Inc. and Dundee Securities\n...