Purecore Metals Inc. press release
Launch Augen LP 2006-1 Flow Through Resource Limited Partnership Offering Memorandum August 31st, 2006
CSE - Canadian National Stock Exchange ยท Canada
Shares outstanding: 32,400,614
TORONTO, Sept. 1 /CNW/ - Augen Capital Corp. ("Augen") (TSX-V: AUG) is pleased to announce the launch August 31, 2006 for the Augen Limited Partnership 2006-1 ("Augen LP2006-1") offering. Augen LP2006-1 is a resource flow-through limited partnership offered by Offering Memorandum with a minimum of $3,000,000 and a maximum offering of $15,000,000. The investment objective of the partnership is to primarily invest in mining exploration companies with market capitalizations up to $100 million, with some oil and gas investments. The private placement offering is led by Queensbury Securities Inc. and is primarily available through limited market dealers. Tax benefits of the Augen LP2006-1 include up to a 100% investment deduction and a federal tax credit of approximately 12%. The after-tax break even point, after capital gains tax is approximately 60% of the initial investment for an Ontario resident. The Augen LP2006-1 offering books are open and it is anticipated will close on or before October 31st. "The Augen LP2006-1 Offering Memorandum will complement the Augen 2006 Prospectus offering which has raised over $9.8M and has a final close of end of September 2006, thereby enabling Augen to look at larger pro-rata opportunities for both offerings," 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