BluMont Augen Limited Partnership 2008

February 28, 2008 11:21 ET

BluMont Augen Limited Partnership 2008 Completes Initial Closing Of Flow-Through Offering Raising Over $8 Million

TORONTO, ONTARIO--(Marketwire - Feb. 28, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY NON-CANADIAN SOURCE

BluMont Augen Limited Partnership 2008 (the "Partnership") is pleased to announce that the Partnership has completed its initial closing of a public offering of units, raising a total of $8,043,550.00. The Partnership expects to invest approximately 85% of the available proceeds of the offering in flow-through shares of Canadian resource companies involved in mineral exploration and approximately 15% of the gross proceeds of the offering in flow-through shares of Canadian resource companies involved in oil and gas exploration. The Partnership expects investors to receive tax deductions equal to 100% of the amount invested for the 2008 taxation year. Also, investments in flow-through shares of resource companies involved in mineral exploration may qualify for investment tax credits. The Partnership intends to complete a second closing of its offering of units on or about March 27, 2008.

BluMont Capital Corporation ("BluMont") is a wholly-owned subsidiary of Integrated Asset Management Corp. ("IAM") (TSX:IAM). BluMont, as portfolio manager, will select flow-through shares and other investments on behalf of the Partnership in consultation with Augen Capital Corp. ("Augen"). Augen has been retained by the Partnership and the Portfolio Manager to provide its technical expertise and due diligence services in the resource sector to assist the Partnership and the Portfolio Manager with the review and selection of suitable investment opportunities in resource companies.

The offering was made through a syndicate of investment dealers led by Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., and including Berkshire Securities Inc., Dundee Securities Corporation, TD Securities Inc., Blackmont Capital Inc., Queensbury Securities Inc., Canaccord Capital Corporation, Raymond James Ltd., Burgeonvest Securities Ltd., Desjardins Securities Inc., Industrial Alliance Securities Inc., Richardson Partners Financial Ltd., Sora Group Wealth Advisors Inc. and Wellington West Capital Inc.

About BluMont

Founded in 2000, BluMont Capital ("BluMont") offers investment products designed to provide enhanced diversification and return potential outside of traditional equity and bond investments. BluMont employs a national sales force with over 30 employees and continues to expand its relationships with top quality global investment managers to provide investors with superior alternative investment solutions.

BluMont is a founding member of the Canadian Chapter of the Alternative Investment Management Association (AIMA Canada) and is dedicated to setting new standards in delivering alternative products and services to Canadian retail investors.

About Integrated Asset Management Corp.

Toronto-based Integrated Asset Management Corp. (TSX:IAM), is a leading Canadian alternative investment management company with approximately C$3 billion in assets and committed capital under management in private equity, private corporate debt, real estate, managed futures and retail alternative investments. (www.iamgroup.ca).

About Augen

Augen Capital Corp. (TSX VENTURE:AUG) ("Augen") 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 including private companies and is an industry performance leader in tax-advantaged flow-through investments in Canada's resource sector having raised over $58 million in flow-through limited partnership assets since inception. Augen currently has $47 million in flow-through investment consulting assets, including $28 million raised in 2007. Augen holds over one hundred gold, base metals and uranium exploration and development public and private companies with direct holdings in its merchant banking portfolio and consulting assets in flow-through limited partnerships.

This news release contains certain "forward-looking statements". The statements that are not historical facts contained in this press release are forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • BluMont Capital Corporation
    Peter Chodos
    Managing Director
    (416) 216-3571