TORONTO, Dec. 1 /CNW/ - Augen Capital Corp. (the "Augen") (TSX-V: AUG) is
pleased to announce the third and final close on November 29, 2005 of the
initial public offering Augen Limited Partnership 2005 ("LP 2005").
The LP 2005 issued a total of 84,211 units for gross proceeds of
$8,421,100, the largest raise since the inception of Augen.
The LP 2005 emerging resource flow-through prospectus offering was co-led
by Berkshire Securities and IPC Securities. Syndicate members included
Wellington West Capital and Foster & Associates. Selling Group members
included CIBC Wood Gundy, Dundee Securities, Global Securities, Hampton
Securities, Industrial Alliance, Jones Gable, National Bank Financial,
Northern Securities, Raymond James, Union Securities, Sprott Securities, and
TD Securities. FundTrade and IPC Investment Corp. participated via the
offering memorandum & prospectus wrap.
Consistent with previous Augen partnerships, LP 2005 will primarily
invest in mining exploration companies with market capitalizations under
$15,000,000, based on the advice and counsel of Augen Capital and the Augen
Advisory Board. The Augen Advisory Board is made up of distinguished mining
executives including Lee Barker, Robert Blair, Bob Jackson, Jack Mullins, Hugh
Squair and Rod Whyte. Reflecting the evolution of Augen's investment strategy,
the 2005 Partnership will also invest at least 25% of its assets in
exploration companies with larger market capitalization. LP 2005 will invest
in strategic mineral & resource opportunities with a focus on gold, uranium,
zinc and oil & gas exploration companies which represent commodities that
Augen considers in short supply. Augen believes that any discoveries made by
the Partnership's investee companies will have an excellent chance of being
financed into production.
About Augen Capital
Based in Toronto, Augen 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 $25 million from investors in ten previous
limited partnerships. The Company now has over $25 million in assets under
management, including a core portfolio of emerging resource stocks, three
Resource Flow-Through Limited Partnerships, and its mutual fund, Augen
Resource 2 Balance Fund.
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.
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