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 of $2,000,000.

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
The Company's public documents may be accessed at

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      
Tel: 416-479-3302
Toll-free: 888-442-8436

Organization Profile

Augen Capital Corp.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890