Business
Launch Augen LP 2006-1 Flow Through Resource Limited Partnership Offering Memorandum August 31st, 2006
Launch Augen LP 2006-1 Flow Through Resource Limited Partnership Offering Memorandum August 31st, 2006.
About this update from Gensource Potash Corp.
[{"type":"text","content":"\n\n\n\n\nShares outstanding: 32,400,614\n\nTORONTO, Sept. 1 /CNW/ - Augen Capital Corp. (\"Augen\") (TSX-V: AUG) is\npleased to announce the launch August 31, 2006 for the Augen Limited\nPartnership 2006-1 (\"Augen LP2006-1\") offering.\nAugen LP2006-1 is a resource flow-through limited partnership offered by\nOffering Memorandum with a minimum of $3,000,000 and a maximum offering of\n$15,000,000. The investment objective of the partnership is to primarily\ninvest in mining exploration companies with market capitalizations up to $100\nmillion, with some oil and gas investments. The private placement offering is\nled by Queensbury Securities Inc. and is primarily available through limited\nmarket dealers.\nTax benefits of the Augen LP2006-1 include up to a 100% investment\ndeduction and a federal tax credit of approximately 12%. The after-tax break\neven point, after capital gains tax is approximately 60% of the initial\ninvestment for an Ontario resident.\nThe Augen LP2006-1 offering books are open and it is anticipated will\nclose on or before October 31st.\n\"The Augen LP2006-1 Offering Memorandum will complement the Augen 2006\nProspectus offering which has raised over $9.8M and has a final close of end\nof September 2006, thereby enabling Augen to look at larger pro-rata\nopportunities for both offerings,\" said Cletus Ryan, Vice-President of Sales\nof 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 re...