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Augustine Ventures Corporate Update
By: Marketwired .
Nov. 13, 2012 11:43 AM
TORONTO, ONTARIO -- (Marketwire) -- 11/13/12 -- Augustine Ventures Inc. (CNSX:WAW) ("Augustine" or the "Company") announces and clarifies recent changes in its outstanding capital:
(a) Pursuant to an extension recently negotiated with Citabar Limited Partnership ("Citabar") whereby the date to have spent a total $2,000,000 in eligible expenditures on its Wawa Gold Project (of which approximately $1,250,000 has been spent to date) was extended to June 30, 2013 for consideration of the issuance of 500,000 common shares of the Company to Citabar (see the Company's news release of October 30, 2012), the Company has now issued the said 500,000 shares to Citabar as well as the most recent instalment of 250,000 shares due on or before November 10, 2012 pursuant to the property option agreement;
(b) Of the 185,000 stock options to purchase common shares of the Company at $0.10 per share to expire on November 11, 2012, an officer of the Company exercised his 50,000 options to purchase common shares for $5,000 cash; the remainder of these options granted to other persons expired unexercised; and
(c) Of the 2,639,290 outstanding warrants issued on November 1, 2010 to purchase common shares of the Company at their exercise price of $0.20, all such warrants had expired unexercised on November 1 2012.
After giving effect to the above, the Company's issued and outstanding capital is now as follows:
Common shares issued 33,376,790 Stock options 3,307,500 Warrants 14,595,625 Agent options 1,152,500 Fully diluted 53,584,915
Reference may be made to the Company's interim financial statements for the period ended August 31, 2012 filed on Sedar for further details of the Company's outstanding capital.
About Augustine Ventures Inc.
Augustine Ventures Inc. is a junior gold exploration company which has secured an option to earn a 60% interest on the Wawa Gold Project which encompasses 2,345 hectares in McMurray Township, southeast of the Town of Wawa. Over 95 percent of the property consists of leases and/or patents for both mineral and surface rights that are easily accessible. The property has a known depth extension to 600 meters, a history of past production from the known vein deposits and a large number of untested but documented gold occurrences on the property. Augustine also acquired a 100% undivided interest in an additional 161 claim units totalling 2,576 hectares adjacent to its Wawa Gold Project known as the Oakley Lake Property situated in McMurray and Naveau Townships near Wawa, Ontario.
This press release may contain forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as "anticipate", "believe", "plan", may", "could", "would", "might" or "will", "estimates", "expect", "intend", "budget", "scheduled", "forecasts" and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of gold and other risks identified in the Company's most recent annual information form filed with the Canadian securities regulatory authorities on www.SEDAR.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.
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