TRUECLAIM EXPLORATION INC. – (the “Company”) announces that it has completed the first tranche of its previously announced private placement financing (the “Financing”), as described in its News Releases of June 5, 2013, pursuant to which it has issued an aggregate of 4,750,000 units (each, a “Unit”) for aggregate gross proceeds of $285,000. Each Unit consists of one common share (each, a “Share”) and one Share purchase warrant (each, a “Warrant”). Each Warrant is exercisable into one Share at a price of $0.10 per Share for two years from the date of issuance. The Company expects to close additional tranches of the Financing in the next few weeks. A total of 4,000,000 Units were purchased by insiders of the Company.
The proceeds from the sale of the Financing will be used for working capital and property payments.
In connection with the closing of the first tranche of the Financing, the Company paid an aggregate cash commission of $720.
All securities issued in connection with the Financing will be subject to a statutory four month hold period.
TRUECLAIM EXPLORATION INC.
Per: “Byron Coulthard”
Byron Coulthard President & CEO
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.