Purecore Metals Inc. press release
Augen LP 2006 Completes $11.4 million IPO
CSE - Canadian National Stock Exchange ยท Canada
TORONTO, Oct. 4 /CNW/ - (Toronto, Ontario - October 4, 2006) Augen Capital Corp. ("Augen") (TSX-V: AUG) is pleased to announce that Augen Limited Partnership 2006 ("Augen LP2006") has completed its initial public offering issuing an aggregate of 113,546 Units for gross proceeds of $11.4 million. Augen LP2006 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 LP2006 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 IPC Securities Corporation, with a syndicate including HSBC Securities (Canada) Inc., Blackmont Capital Inc., Canaccord Capital Corporation, Research Capital Corporation, Wellington West Capital Inc., Industrial Alliance Securities Inc., Queensbury Securities Inc., and Sora Group Wealth Advisors Inc. "We are delighted to see a 94% increase from 2005 in the IDA participation in the 2006 limited partnership prospectus offering," 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.
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