Envoy Capital Group Inc.
TSX : ECG
NASDAQ : ECGI

Envoy Capital Group Inc.

September 10, 2010 15:36 ET

Concerned Shareholders File Dissident Proxy Circular

TORONTO, ONTARIO--(Marketwire - Sept. 10, 2010) - Augen Capital Corp. ("Augen Capital") and Envoy Capital Group Inc. ("Envoy Capital") (TSX:ECG)(NASDAQ:ECGI), (the "Concerned Shareholders"), believe change is urgently needed at the board of directors of Augen Gold Corp. ("Augen Gold"). The Concerned Shareholders do not believe that Augen Gold is being managed properly and Augen Gold's performance, both short and long term, is indicative of the lack of solid leadership. The Concerned Shareholders are asking fellow Augen Gold shareholders for their support to make these necessary changes at Augen Gold at the annual and special meeting to be held on September 30, 2010.

Augen Capital is the founding shareholder and Envoy Capital is one of the earliest shareholders of Augen Gold. Augen Capital owns 11,519,010 common shares of Augen Gold, representing a 15.03% ownership interest. Envoy Capital owns 3,118,250 common shares of Augen Gold, representing a 4.07% ownership interest. Together, the Concerned Shareholders represent 19.1% ownership interest, a significant stake in Augen Gold. In contrast, the current board and management represent a 1.75% ownership interest.

To allow Augen Gold to move forward and to maximize value for all shareholders, the Concerned Shareholders are asking fellow Augen Gold shareholders to vote the BLUE proxy or Voting Instruction Form mailed FOR the following:

  • the election of the Concerned Shareholders' nominees (Peter F. Chodos, Stephen C. Johnson, Hugh Aird and Judith Baker) as directors of Augen Gold;
  • the appointment of the auditors; and
  • the re-approval of the stock option plan

Further details are included in the dissident proxy circular which has been filed on SEDAR and mailed to Augen Gold shareholders by the Concerned Shareholders. The Concerned Shareholders are recommending that fellow shareholders of Augen Gold vote their BLUE proxy for change.

For more information about voting the BLUE proxy, please contact Augen Capital at 416-777-2007 or toll-free at 1-888-442-8436.

Time is short. The Concerned Shareholders urge fellow Augen Gold shareholders to act today for the future of Augen Gold.

About Envoy Capital Group Inc.

Envoy Capital Group Inc. (NASDAQ:ECGI)(TSX:ECG) is a merchant banking organization that focuses on providing financial services as well as equity and debt capital, to small and mid-cap companies. For more information on Envoy Capital Group Inc., visit our website at www.envoy.to

Cautionary Statement

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of Section 21E (i) (1) of the United States Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Envoy Capital Group's actual results to be materially different from any future results expressed or implied by these statements. Such factors include the following: general economic and business conditions, changes in demand for Envoy Capital Group's services, changes in competition, the ability of Envoy Capital Group to integrate acquisitions or complete future acquisitions, interest rate fluctuations, currency exchange rate fluctuations, dependence upon and availability of qualified personnel and changes in government regulation. In light of these and other uncertainties, the forward-looking statements included in this press release should not be regarded as a representation by Envoy Capital Group that Envoy Capital Group's plans and objectives will be achieved. These forward-looking statements speak only as of the date of this press release, and we undertake no obligation to update or revise the statements.

Contact Information

  • Envoy Capital Group Inc.
    Andrew Patient
    (416) 593-1212
    or
    contact our investor relations department at:
    info@envoy.to