Quite the dilutionNR out this AM results of which will add 28,571,428 additional shares to the pile.
If this was a
major holding of my portfolio, then I would be "most displeased".
But since it's not, I am just "displeased".
AUGEN CAPITAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
TORONTO, Dec. 6 /CNW/ - Augen Capital Corp. ("Augen" or "the Company") (TSX-V: AUG) is pleased to announce a non-brokered private placement of up to $2,000,000 through the sale of 28,571,428 Units at
.07 per Unit, subject to regulatory approval.
Each Unit is comprised of one (1) common share ("Share") of the Company and one half of one (1/2) common share purchase warrant. Each whole common share purchase warrant ("Warrant") entitles the holder to acquire a common share at a price of
.10 for a period of twenty-four (24) months from the closing date.
The proceeds of the financing will be used to fund general working capital of the Company. All securities issued in conjunction with the offering will be subject to a hold period, which expires four months after closing. Finder's fees may be paid in accordance with regulatory requirements.