Mason continues to do magic
posted on
Mar 16, 2009 08:49AM
Edit this title from the Fast Facts Section
NR this morning. I would indeed think that David M is pleased as reported - link: http://www.globeinvestor.com/servlet...
08:00 EDT Monday, March 16, 2009
Here's an exerpt:
At the Special Meeting, shareholders of Augen Gold voted in favour of four
resolutions:
- Fixing the number of Directors of Augen Gold at four;
- Removing former Directors Joseph Leeder and James Stephenson;
- Electing independent Directors Tim Peterson, Louis Sapi and James
Sbrolla, who join incumbent Director J. David Mason on the Board;
- Overwhelmingly approving a debt-to-shares conversion, subject to TSXV
approval, in which Augen Gold will issue common shares a deemed price
of $0.15 per share to Augen Capital, repaying the $1.1 million
outstanding debt owed to Augen Capital, while conserving Augen Gold's
cash position.
"We are pleased to move past the events that led us to calling this meeting and causing this vote. Shareholders of Augen Gold made a number of excellent decisions at the Special Meeting," said J. David Mason, Chairman of Augen Capital, the founding and largest registered shareholder of Augen Gold as well as its largest lender. "We believe in the longer-term prospects of Augen Gold and believe that the new Board will represent shareholders well."