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Augen Limited Partnership 2004-1 announces results of special meeting of the partners
Augen Limited Partnership 2004-1 announces results of special meeting of the partners.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n\nTORONTO, March 28 /CNW/ - In connection with the special meeting of the\npartners of Augen Limited Partnership 2004-1 (the \"Partnership\") held on\nMonday, March 27, 2006 (the \"Meeting\"), Augen General Partner X Inc., (the\n\"General Partner\"), a wholly owned subsidiary of Augen Capital Corp. (\"Augen\"\nor \"Company\") (TSX-V: AUG), announces that all resolutions set out in the\nManagement Information Circular dated March 2, 2006 were approved at the\nMeeting.\nAt the Meeting, the Partners voted to approve the transfer of the assets\nof the Partnership to Augen Resource Strategy Fund Inc. (the \"Fund\"), a newly\nformed open-ended mutual fund corporation, in consideration for Series III\nClass A Shares of the Fund, on a tax-deferred basis, and the subsequent\ndissolution of the Partnership (the \"Mutual Fund Rollover Transaction\"). The\nPartners also voted, by special resolution, to amend the provisions of the\namended and restated limited partnership agreement dated as of June 29, 2004\n(the \"Partnership Agreement\") with respect to a mutual fund rollover\ntransaction to: (i) remove the condition that limited partners be provided\nwith not less than 50 days' prior written notice of the Mutual Fund Rollover\nTransaction, (ii) remove the requirement that the Partnership will use its\nbest efforts to obtain such approvals as may be required for the Fund to\nbecome a reporting issuer in each of the jurisdictions in which the\nPartnership is a reporting issuer, (iii) amend specified investment\nrestrictions of the Partnership as necessary solely to permit the Mutual Fund\nRollover Transaction, (iv) specify that the expenses of the Mutual Fund\nRollover Transaction be paid out of the funds held in the Partnership to\nconform the provisions of the Partnership Agreement with respect to the\npayment of such expenses to the disclosure contained in the prospectus of the\nPartnership, dated June 29, 2004, and (v) change the timing of the requirement\nthat the net asset value of the Partnership be audited by the auditors of the\nPartnership on the day prior to the completion of the Mutual Fund Rollover\nTransaction.\nIt is expected that the Mutual Fund Rollover Transaction will occur on or\nabout April 18, 2006.\n\nAbout Augen\nBased in Toronto, Augen is a merchant bank specializing in the financing\nof, and investment in, ...