Augen Capital Corp.
TSX VENTURE : AUG

Augen Capital Corp.

October 04, 2010 08:40 ET

Augen Capital Correction Notice

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2010) - The Board of Augen Capital Corp. (TSX VENTURE:AUG) ("Augen Capital" or the "Company") reports that following its emergency board meeting, due to an administrative error and without Board approval, in a press release dated September 28, 2010, notice was improperly given that Mr. Manish Z. Kshatriya, Chief Financial Officer of Augen Capital, was on administrative suspension with pay while the conduct and directions of the improperly elected Board were reviewed. The Board confirms that Mr. Kshatriya is not on any form of suspension and continues to have the confidence of the Board, which wishes to apologize to Mr. Kshatriya.

About Augen Capital

Augen Capital Corp. is a Toronto-based public merchant bank specializing in financing and investing in resource companies and projects. The Company is particularly focused on flow-through opportunities and other alternative financing arrangements.

This news release contains forward-looking statements. These statements are based on certain factors and assumptions as set forth in this news release, including expected growth, results of operations, performance and business prospects and opportunities. While Augen Capital considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. A number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, results of exploration, project development, reclamation and capital costs of the companies in the merchant banking portfolios ("investee companies"), and Augen Capital's financial condition and prospects, all of which could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for the minerals the investee companies expect to produce; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and technological and operational difficulties encountered in connection with the activities of Augen Capital and investee companies. Additional risks and uncertainties can be found in the Company's Management's Discussion and Analysis and in filings with the Canadian provincial securities commissions, available on SEDAR (www.sedar.com). Forward-looking statements are given only as at the date of this news release and Augen Capital disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

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.

Contact Information

  • Augen Capital Corp.
    Robin Sundstrom
    VP Investor Relations
    647-822-8111