Shares outstanding: 35,915,615
TORONTO, May 1 /CNW/ - Augen Capital Corp. (TSX-V: AUG) ("Augen" or the "Company") is pleased to announce that Augen Limited Partnership 2007 ("Augen LP 2007") has completed its initial public offering issuing an aggregate of 120,370 Units for gross proceeds of $12,037,000.
Augen LP2007 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 LP2007 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 National Bank Financial Inc., with a syndicate including HSBC Securities (Canada) Inc., Queensbury Securities Inc., Industrial Alliance Securities Inc., Sora Group Wealth Advisors Inc., Research Capital Corporation, IPC Securities Corporation, Raymond James Ltd, Burgeonvest Securities Limited, Blackmont Capital Inc., Acadian Securities Inc., Canaccord Capital Corporation and Desjardins Securities Inc.
"We are delighted to see the largest flow-through offering in the Augen's history with the 2007 limited partnership prospectus deal," said Ronald K. Mann, Vice-President of Business Development of Augen.
About Augen Capital
Augen Capital is a Toronto-based merchant bank which finances early stage resource companies. Augen is an industry leader in tax-advantaged flow-through investments in Canada's resource sectors having raised over $53 million in flow-through limited partnership assets since inception. Augen manages a core portfolio of emerging resource stocks, two resource flow-through Limited Partnerships, and its mutual fund, Augen Resource Strategy Fund.
Augen has an interest in over 30 uranium exploration and development public companies as well as many gold and other metal company investments directly in its merchant banking portfolio and, indirectly, through fees earned on its structured products.
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 forward-looking statements. These statements are based on certain factors and assumptions as set forth in this new release including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. A number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to results of exploration, project development, reclamation and capital costs of the companies in the merchant banking portfolios ("investee companies"), and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for the minerals the investee companies expect to produce; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company's and investee companies. Forward-looking statements are given only as at the date of this news release and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
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