TORONTO, May 9 /CNW/ - Augen Capital Corp. (the "Company" or "Augen")
(TSX-V: AUG) announces today that it has completed a share for debt
transaction pursuant to which the Company will issue 533,333 common shares at
$0.18 per share to settle a debt owed by the Company of $96,000.
The Company had 28,004,424 common shares issued and outstanding prior to
this transaction. Mr. Mason previously held 3,012,464 shares and will, after
this transaction, hold 3,512,464 shares or 12.3% of the outstanding shares of
the Company. The shares are subject to a four-month hold period expiring
September 8, 2006.
About Augen Capital
Based in Toronto, Augen is a merchant bank specializing in the financing
of primarily early stage resource companies and is an industry leader in
tax-advantaged flow-through investments in Canada's resource sector. Our
Managed Products division earns fees related to the limited partnerships and
mutual funds including setup, due diligence, and annual and performance fees.
Our Merchant Banking division provides financing and strategic management
support to resource investee companies and strives to maximize net gains
realized on its core investment portfolio of emerging resource stocks. Augen
has over $30 million in assets under management, including its merchant
banking investment portfolio, four resource flow-through limited partnerships,
and its mutual funds.
For more information on Augen Capital, visit our website at
www.augencc.com
The company's public documents may be accessed at www.sedar.com
The TSX Venture has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
This news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with the British
Columbia Securities Commission and the United States Securities & Exchange
Commission.
%SEDAR: 00008335E
