AUGEN CAPITAL ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Shares outstanding: 36,615,615

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 $0.07 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 $0.10 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.

About Augen Capital
Augen Capital Corp. ("Augen") (TSX-V: AUG) is a Toronto-based public merchant bank specializing in the financing of and investment in emerging resource companies.  Augen manages a merchant banking hard dollar portfolio of emerging resource stocks.

For more information on Augen Capital, visit our website at www.augencc.com

The Company's public documents may be accessed at www.sedar.com 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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This news release contains forward-looking statements. These statements are based on certain factors and assumptions as set forth in this news release including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. A number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to results of exploration, project development, reclamation and capital costs of the companies in the  merchant banking portfolios ("investee companies"), and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for the minerals the investee companies expect to produce; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company and investee companies.  Additional risks and uncertainties can be found in our Management's Discussion and Analysis and in filings with the Canadian provincial securities commissions. Forward-looking statements are given only as at the date of this news release and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

For further information:

Manish Z. Kshatriya, Chief Financial Officer
Tel: [phone]
Toll-free: 888-442-8436
[email protected]