Alan Cruickshank

September 19, 2011 18:10 ET

Correcting Press Release Regarding Acquisition of Shares of Augen Capital Corp.

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2011) - Alan Cruickshank, President and CEO of Augen Capital Corp. ("Augen") announces that, effective June 16, 2011, he acquired 45,000 common shares of Augen in the public market representing approximately 0.06% of the outstanding common shares of Augen ("Common Shares") at the time of such acquisition. Following the acquisition, Mr. Cruickshank beneficially owned, or controlled or directed, directly or indirectly, a total of 4,478,000 Common Shares, stock options exercisable into 1,200,000 Common Shares and warrants exercisable into 2,500,000 Common Shares, representing approximately 10.03% of the issued and outstanding Common Shares (on a partially diluted basis) at such time.

In Mr. Cruickshank's press release issued on July 27, 2011, it was incorrectly disclosed that Mr. Cruickshank beneficially owned or exercised control or direction over approximately 11.34% of the issued and outstanding Common Shares (on a partially diluted basis) at the time he acquired 2,500,000 units of Augen (each unit consisting of one Common Share and one-half warrant). At such time, the calculation of Mr. Cruickshank's holdings in Augen incorrectly included 1,500,000 Common Shares and 750,000 warrants held by C4 Capital Inc. (the "C4 Capital Holdings"). Mr. Cruickshank does not exercise control or direction, directly or indirectly, over the C4 Capital Holdings.

As of the date of this press release, Mr. Cruickshank beneficially owns, or controls or directs, directly or indirectly, 5,584,000 Common Shares, stock options exercisable into 1,200,000 Common Shares and warrants exercisable into 2,500,000 Common Shares, representing approximately 11.39% of the issued and outstanding Common Shares (on a partially diluted basis).

The securities identified herein were acquired for investment purposes and Mr. Cruickshank reserves the right to acquire beneficial ownership or control or direction of further securities of Augen depending on market conditions and other relevant factors.

An early warning report (the "EWR") will be filed on SEDAR and will be available for review at www.sedar.com under Augen's profile. A copy of the EWR can be obtained from the contact below.

Contact Information

  • Augen Capital Corp.
    Alan Cruickshank
    416-777-2007