Shares outstanding 32,400,614
TORONTO, Nov. 20 /CNW/ - Augen Capital Corp. ("Augen" or the "Company")
(TSX-V: AUG) is pleased to announce the addition of George D. Elliott, B.A.
(Hons), L.L.B. to its Board of Directors.
A seasoned business leader with 30 years of experience in corporate
financing, Mr. Elliott's focus on new business development and relationship
management lend a unique perspective to his Board activities.
Formerly senior counsel at the law firm Gowling Lafleur Henderson, and
senior partner at McCarthy Tetreault, based in Toronto, Mr. Elliott was
Executive Vice President of MCAP Financial, which manages over C$10 billion in
mortgage investments for Canadian financial institutions, and is now Chair of
the executive committee of the PLM Group, Canada's fourth largest commercial
printer, Chair and Founder of Titanium Corporation, and a director of
Integrated Asset Management, a C$3 billion fund management company.
Mr. Elliott's legal and financial background will be most helpful for
assisting in the growth in the merchant banking and structured product
divisions.
The Company also wishes to announce that it has granted 100,000 stock
options to Mr. Elliott. The options are exercisable at a price of $0.30 per
share over a period of three years into common shares of the Company and are
fully vested at the time of issuance. The options are subject to a four-month
exchange hold period and regulatory approval.
About Augen Capital
Based in Toronto, Augen Capital is a merchant bank specializing in the
financing of, and investment in, early stage resource companies and is an
industry leader in tax-advantaged flow-through investments in Canada's
resource sectors. Augen has raised over $35 million in flow-through limited
partnership assets in the last four years. The Company now has under
management a core portfolio of primarily emerging resource stocks, two
Resource Flow-Through Limited Partnerships, and its mutual fund, Augen
Resource Strategy Fund.
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
