Purecore Metals Inc. press release
Augen Capital Corp. - Closing of $1,000,000 non-brokered private placement
CSE - Canadian National Stock Exchange ยท Canada
Shares outstanding: 28,857,282
TORONTO, June 29 /CNW/ - Augen Capital Corp. ("Augen") (TSX-V: AUG) wishes to announce that it has completed a non-brokered private placement of 3,333,334 units at $0.30 for gross proceeds of $1,000,000. Each unit consists of one common share at a price of $0.30 and one non-transferable common share purchase warrant (the "warrant"). Each full warrant entitles the holder to purchase one additional common share (the "warrant share") of the Company at a price of $0.35 per warrant share for a period of twenty four months from the closing date. Subject to the approval of the TSX Venture Exchange, Augen will pay finder's fees of up to 5% cash and 2% broker warrants to arm's length persons. The common shares and warrants are subject to a four-month hold period. "Augen decided to limit the total funds raised to $1 million as it is currently examining several alternate financings through new strategic partnerships which would not be dilutive to existing shareholders. Augen experienced an exceptional first quarter in fiscal 2006 with substantial capital gains in its proprietary merchant banking portfolio. The merchant banking portfolio is becoming substantial and is improving Augen's ability to support resource deal-flow," said J. David Mason, chairman 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. 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 administration, including its merchant banking investment portfolio, resource flow-through limited partnerships, and Augen Resource Strategy Fund. 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
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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