TORONTO, Oct. 4 /CNW/ - (Toronto, Ontario - October 4, 2006) Augen
Capital Corp. ("Augen") (TSX-V: AUG) is pleased to announce that Augen Limited
Partnership 2006 ("Augen LP2006") has completed its initial public offering
issuing an aggregate of 113,546 Units for gross proceeds of $11.4 million.
Augen LP2006 is a resource flow-through limited partnership offered by
prospectus. The investment objectives are to: (a) achieve capital appreciation
through investment in a diversified portfolio of Flow-Through Shares and other
securities of select Resource Companies and; (b) maximize tax benefits for
investors by purchasing Flow-Through Shares of Resource Companies. Augen
LP2006 will invest primarily in Resource Companies with market capitalizations
of up to one hundred million, with some oil and gas investments. The offering
was led by Berkshire Securities Inc. and IPC Securities Corporation, with a
syndicate including HSBC Securities (Canada) Inc., Blackmont Capital Inc.,
Canaccord Capital Corporation, Research Capital Corporation, Wellington West
Capital Inc., Industrial Alliance Securities Inc., Queensbury Securities Inc.,
and Sora Group Wealth Advisors Inc.
"We are delighted to see a 94% increase from 2005 in the IDA
participation in the 2006 limited partnership prospectus offering," said
Cletus Ryan, Vice-President of Sales of Augen.
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. The
Managed Products division earns fees related to the limited partnerships and
mutual funds including setup, due diligence, and annual and performance fees.
The 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 $40 million in assets under administration, including its merchant
banking investment portfolio, resource flow-through limited partnerships, and
Augen Resource Strategy Fund.
For more information on Augen, 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
