Shares outstanding: 65,187,039
TORONTO, Jan. 25 /CNW/ - Augen Capital Corp. ("Augen" or "the Company") (TSX-V: AUG) is pleased to announce it has closed the second and final tranche of
its previously announced $2,000,000 non-brokered private placement
financing raising gross proceeds under the second tranche of $890,909.
Together with the first tranche, which closed on December 30, 2010, the
financing was fully subscribed with aggregate gross proceeds to Augen
On closing of the second tranche, Augen issued 12,727,269 units ("Units") at $0.07 per Unit. Each Unit consists of one common share of the
Company and one-half of one common share purchase warrant. Each whole
common share purchase warrant entitles the holder to acquire one common
share at a price of $0.10 for a period of twenty-four months from the
closing date. Together with closing of the first tranche, Augen issued
a total of 28,571,424 Units pursuant to this private placement.
No finder's fees were paid by the Company in connection with the
financing. The net proceeds of the financing will be used to fund
general working capital of the Company.
All securities issued in connection with the financing will be subject
to restrictions on resale for a period of four months from closing.
About Augen Capital
Augen Capital Corp. ("Augen") (TSX-V: AUG) is a Toronto-based public
merchant bank specializing in the financing of and investment in
emerging resource companies. Augen manages a merchant banking hard
dollar portfolio of emerging resource stocks.
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Augen Capital Corp.
For further information:
Manish Z. Kshatriya, Chief Financial Officer