TRUECLAIM EXPLORATION INC. – (the “Company”) today announces that, subject to regulatory approval, it intends to complete a non-brokered private placement financing (the “Financing”) of up to 16,000,000 units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of up to $800,000. Each Unit will consist of one common share of the Company (each, a “Share”) and one share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional Share at a price of $0.05 per Share for a period of two years from closing of the Financing, subject to an acceleration provision whereby, in the event that the Shares trade above $0.15 per Share for a period of fifteen consecutive trading days, the Company may accelerate the expiry date of the Warrants, to a date that is thirty days after the completion of such period.
The proceeds of the Financing will be used for drilling at the Company’s Arizona project and for general working capital. Finders' fees may be payable in connection with the Financing in accordance with the policies of the TSX Venture Exchange.
TRUECLAIM EXPLORATION INC.
Per: “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.