Purecore Metals Inc. press release
Augen Gold Announces Appointment of Special Committee to Consider Shareholders Meeting Requisition
CSE - Canadian National Stock Exchange ยท Canada
Shares outstanding: 24,880,685
TORONTO, Jan. 9 /CNW/ - Augen Gold Corp. (Augen Gold) (TSX-V: AUJ) announced today that its Board of Directors has appointed a Special Committee of two directors, Joseph Leeder and James Stephenson, to consider and respond to the requisition for a shareholders meeting recently made by Augen Capital Corp. (Augen Capital).
In a letter dated December 19, 2008, Augen Capital requisitioned the directors of Augen Gold to call a special meeting of Augen Gold shareholders (i) to approve the issuance to Augen Capital of approximately 9,000,000 common shares of Augen Gold at an ascribed value of $0.125 per share to satisfy Augen Gold's indebtedness to Augen Capital of approximately $1.13 million, and (ii) to remove all the current directors of Augen Gold and to elect individuals nominated by Augen Capital to replace them.
The Special Committee has engaged Bennett Jones LLP as its independent legal counsel and has been directed by the Board of Augen Gold to consider and deal with the requisition in the most timely and cost-effective manner practicable.
About Augen Gold
Augen Gold is a gold exploration company with 24,042 hectares of mining claims over a 45-kilometre length located in Swayze Greenstone Belt, including the formerly producing Jerome Gold Mine and directly adjacent to the Young Shannon gold deposit. The Company's objective is to aggressively explore the Jerome mine in order to determine the gold potential along strike on the contiguous mining claims, and to continue to expand its property portfolio with highly prospective mineral assets.
For more information on Augen Gold, visit our website at www.augengold.ca The Company's documents may be accessed at www.sedar.com