BluMont Augen General Partner 2007-1 Inc.

May 26, 2009 16:15 ET

BluMont Capital Completes Rollover of BluMont Augen Limited Partnership 2007-1 Into BluMont Augen Resource Strategy Fund Inc.

TORONTO, ONTARIO--(Marketwire - May 26, 2009) -

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

BluMont Augen General Partner 2007-1 Inc., the General Partner of the BluMont Augen Limited Partnership 2007-1 (the "Partnership"), a limited partnership that invests primarily in flow-through shares of Canadian resource companies involved in mineral exploration, announced that the Partnership, CUSIP # 09643T100, completed the transfer of the assets of the Partnership to BluMont Augen Resource Strategy Fund ("BluMont Augen RS Fund") Class F (Fund Code : AUG 581) a mutual fund corporation, on April 30, 2009 in exchange for redeemable mutual fund shares having equal value. The exchange ratio, based on the final net asset value of BluMont Augen Limited Partnership 2007-1 and the April 30, 2009 net asset value of BluMont Augen RS Fund, is 0.2463 Class F shares in BluMont Augen RS Fund for every BluMont Augen Limited Partnership 2007-1 unit held.

Within 60 days of the transfer of assets, limited partners of the Partnership will become shareholders of BluMont Augen RS Fund on a tax-deferred rollover basis. Class F Shares may be redeemed beginning May 29, 2009; the next regularly scheduled monthly Valuation Date of the BluMont Augen RS Fund.

About BluMont Augen Resource Strategy Fund

BluMont Augen RS Fund is an open-ended mutual fund corporation with an investment objective to provide long-term capital growth by investing primarily in equity securities of senior and emerging Canadian resource companies. In pursuit of its investment objective, the Investment Advisor will take into account the outlook for the economy, financial markets and specific issuers. As a result of Mutual Fund Rollover Transactions such as the rollover of the BluMont Augen Limited Partnership 2007-1 to the BluMont Augen RS Fund, a portion of the portfolio of the BluMont Augen RS Fund, from time to time, will consist of Flow-Through Shares. The continuous offering memorandum of the BluMont Augen Resource Strategy Fund is available to the limited partners of the Partnership through their investment advisor or by calling BluMont Capital at 866.473.7376.

About BluMont Capital

Founded in 2000, BluMont Capital offers investment products designed to provide enhanced diversification and return potential outside of traditional equity and bond investments. BluMont Capital employs a national sales force and is dedicated to setting new standards in delivering alternative products and services to Canadian retail investors.

BluMont Capital is a wholly owned subsidiary of Toronto-based Integrated Asset Management Corp. (TSX:IAM), a leading Canadian alternative asset investment management company with approximately C$2.1 billion in assets and committed capital under management as of March 31, 2009 (www.iamgroup.ca).

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
    1-866-473-7376