Augen Capital Corp. - Management Changes/Investor Communications.TORONTO--(BUSINESS WIRE)--June 30, 1999-- The Board of Directors of Augen augen A large mineral grain or grain cluster having the shape of an eye in cross-section and occurring in foliated metamorphic rocks such as schist and gneiss. Capital Corp (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :AUG) wishes to inform investors that Mr. G.E. ("Tim") Wood has taken on the full time responsibility of President and C.E.O. of OroGrande Resources Inc. (ORG - ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. ). This exploration company in which Augen holds a significant stake (1,315,000 common shares) has several high potential mineral properties in B.C., Ontario Ontario, city, United States Ontario, city (1990 pop. 133,179), San Bernardino co., S Calif., near Los Angeles, in a region of vineyards; inc. 1891. and Jamaica Jamaica (jəmā`kə), independent state within the Commonwealth (2005 est. pop. 2,732,000), 4,232 sq mi (10,962 sq km), coextensive with the island of Jamaica, West Indies, S of Cuba and W of Haiti. . Augen's policy is to hold less than 10 percent in any investment and our holding in OroGrande is approximately 7 percent. We are therefore quite restricted as to further investment in this company. It is a significant holding for Augen and the company is in need of strong management and leadership in this most difficult economic environment for resource companies. Mr. Wood has extensive experience as a C.E.O. of several producing and exploration companies. As the management of OroGrande Resources Inc. will require intensive effort, Mr. Wood will resign from his position as President of Augen Capital Corp. effective July 31, 1999. He will continue to serve as a member of Augen's Advisory Board. The Board of Augen wishes to thank Mr. Wood for his assistance, particularly in the completion of Augen Limited Partnership IV and the subsequent acquisition of this asset in February 1999 by Augen. Investors should note that regular detailed information is available on our web site (www.augencc.com) including quarterly portfolio updates, a real-audio recording of about 20 minutes (to be updated approximately 1-2 times per month), and our corporate video which can be downloaded from the web site. Additionally, calls to our voice mail after hours Adv. 1. after hours - not during regular hours; "he often worked after hours" provides the opportunity to hear a 1 minute update (416/777-2007 or 888/442-8436). In the near future callers on hold during normal business hours BUSINESS HOURS. The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a will also hear an update of corporate activities. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. |
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