Augen Gold Wins Shareholder Approval Of Debt-To-Equity Conversion

In a shareholder's meeting held last Friday, the shareholders approved four resolutions. Two pertained to changes in the board of directors, one fixed the number of directors at four, and the final one "overwhelmingly approved" a equity conversion of the $1.1 million debt owed to Augen Capital. Conversion terms are one share per 15 cents of debt. The news release has further details on this turn of the page for Augen Gold.

This item was disseminated before market's open yesterday. As of the close, Augen Gold closed at 10 cents, up a penny on the day. Current bid-ask is 10 cents - 10.5 cents.

The company's Google Finance web page is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.

Augen Gold Disputes Accuracy Of Earlier Augen Capital Release

Augen Gold Corp. has issued a rejoinder to last Friday's release from Augen Capital Corp, which deals with Augen Gold converting debt owed to Augen Capital to equity. Augen Gold says that: a) Augen Capital only offered to take shares at 12.5 cents for the swap, not the 15 cents claimed; b) Augen Gold's board never expressed approval of Augen Capital's terms; c) contrary to Augen Capital's claim to have been forced to call a special shareholder's meeting to deal with the matter, ACC had already planned to call the meeting in mid-January. The full rebuttal from Augen Gold is here.

Augen Gold's shares were down slightly this morning: one trade at 6.5 cents, for a drop of half a cent. Augen Capital's shares have not traded at all so far; it closed yesterday at 10 cents.

Augen Gold's Google Finance web page is here. Augen Capital's is here.

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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.