Pan Global Resources Inc. press release
Augen Capital Corp. Announces Share for Debt
TSXV - TSX Venture Exchange · Copper · Tin · Gold · Silver · Zinc · Lead · Cobalt · Nickel · Platinum · Palladium · Canada
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