BluMont Augen Limited Partnership 2007-1

September 04, 2007 17:00 ET

Launch of BluMont Augen Limited Partnership 2007-1 Flow-Through Offering

TORONTO, ONTARIO--(Marketwire - Sept. 4, 2007) -

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

Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its wholly-owned subsidiary, BluMont Capital Corporation ("BluMont" or the "Portfolio Manager") are pleased to announce today that a preliminary prospectus has been filed for the initial public offering of units of BluMont Augen Limited Partnership 2007-1 (the "Partnership"). The maximum offering has been set at $40 million. The Partnership expects to invest approximately 85% of the gross 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 2007 taxation year. Also, investments in flow-through shares of resource companies involved in mineral exploration may qualify for investment tax credits.

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 is being made through a syndicate of investment dealers led by Scotia Capital Inc., CIBC World Markets Inc. and Dundee Securities Corporation, and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Queensbury Securities Inc., Raymond James Ltd., Blackmont Capital Inc., Desjardins Securities Inc., Industrial Alliance Securities Inc., Research Capital Corporation, Sora Group Wealth Advisors Inc. and Wellington West Capital Inc.

About BluMont

Founded in 2000, BluMont manages and distributes alternative investment products designed to provide enhanced diversification and return potential outside of traditional equity and fixed income investments. With over 30 employees, BluMont employs a national sales force and has expanding strategic alliances with multi-national financial services providers. BluMont is a founding member of the Canadian Chapter of the Alternative Investment Management Association (AIMA).

IAM is Canada's leading alternative asset management company with approximately $3 billion in assets and committed capital under management in private corporate debt, private equity, managed futures, real estate investment management, property management and retail products, including hedge funds.

About Augen

Augen is a Toronto-based merchant bank that finances early stage resource companies. Augen is an industry leader in tax-advantaged flow-through investments in Canada's resource sectors having raised over $54 million in flow-through limited partnership assets since inception. Augen manages a core portfolio of emerging resource stocks and three resource flow-through limited partnerships. Augen holds over 100 gold, base metals and uranium exploration and development public companies directly in its merchant banking portfolio.

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.

A preliminary prospectus relating to these securities has been filed with securities regulatory authorities in each of the provinces of Canada but has not yet become final for the purpose of a distribution to the public. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province of Canada prior to the time a receipt for the final prospectus or other authorization is obtained from the securities regulatory authority in such province.

Contact Information

  • BluMont Capital Corporation
    Paul J. Perrow
    President and CEO
    (416) 304-6836