Business
Augen LP 2006 Completes $11.4 million IPO
Augen LP 2006 Completes $11.4 million IPO.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Oct. 4 /CNW/ - (Toronto, Ontario - October 4, 2006) Augen\nCapital Corp. (\"Augen\") (TSX-V: AUG) is pleased to announce that Augen Limited\nPartnership 2006 (\"Augen LP2006\") has completed its initial public offering\nissuing an aggregate of 113,546 Units for gross proceeds of $11.4 million.\nAugen LP2006 is a resource flow-through limited partnership offered by\nprospectus. The investment objectives are to: (a) achieve capital appreciation\nthrough investment in a diversified portfolio of Flow-Through Shares and other\nsecurities of select Resource Companies and; (b) maximize tax benefits for\ninvestors by purchasing Flow-Through Shares of Resource Companies. Augen\nLP2006 will invest primarily in Resource Companies with market capitalizations\nof up to one hundred million, with some oil and gas investments. The offering\nwas led by Berkshire Securities Inc. and IPC Securities Corporation, with a\nsyndicate including HSBC Securities (Canada) Inc., Blackmont Capital Inc.,\nCanaccord Capital Corporation, Research Capital Corporation, Wellington West\nCapital Inc., Industrial Alliance Securities Inc., Queensbury Securities Inc.,\nand Sora Group Wealth Advisors Inc.\n\"We are delighted to see a 94% increase from 2005 in the IDA\nparticipation in the 2006 limited partnership prospectus offering,\" said\nCletus Ryan, Vice-President of Sales of Augen.\n\nAbout Augen Capital\n\nBased in Toronto, Augen is a merchant bank specializing in the financing\nof primarily early stage resource companies and is an industry leader in\ntax-advantaged flow-through investments in Canada's resource sector. The\nManaged Products division earns fees related to the limited partnerships and\nmutual funds including setup, due diligence, and annual and performance fees.\nThe Merchant Banking division provides financing and strategic management\nsupport to resource investee companies and strives to maximize net gains\nrealized on its core investment portfolio of emerging resource stocks. Augen\nhas over $40 million in assets under administration, including its merchant\nbanking investment portfolio, resource flow-through limited partnerships, and\nAugen Resource Strategy Fund.\n\nFor more information on Augen, visit our website at www.augencc.com\nThe company's public documents may be accessed at www.sedar.com\n\nThe TSX Venture has not ...