TrueContext Mobile Solutions Corporation Announces Closing of Private Placement

OTTAWA, April 26 /CNW/ - TrueContext Mobile Solutions Corporation (TSXV:TMN) ("TrueContext" or the "Company"), a mobile data solutions company today announced that it has successfully closed its previously announced private placement and that it has issued an aggregate of 11,875,000 units of TrueContext at $0.16 per unit (each unit consisting of one common share in the capital of TrueContext and one half of one common share purchase warrant) for gross proceeds of $1,900,000. Each whole common share purchase warrant will entitle the holder thereof to acquire one common share of TrueContext at an additional purchase price of $0.30 per share at any time up to April 25, 2013.   Unless permitted under applicable securities legislation, the purchasers of the common shares and common share purchase warrants may not trade such securities before August 26, 2011. The private placement remains subject to final acceptance from the TSX Venture Exchange.

The proceeds of the offering will be used by the Company to fund primarily product development and sales support for the Company's customers and for general working capital purposes. Insiders of the Company subscribed for an aggregate of 4,693,250 units of TrueContext.

"We are very pleased to close this financing with strong insider participation.  This is important capital that can be used immediately to further sales and marketing initiatives with our major US operator partner" said Alvaro Pombo, Chief Executive Officer, TrueContext.


TrueContext ProntoFormsTM enables organizations to mobilize business processes in minutes, increasing productivity and eliminating the use of paper.  Workgroups can create their own forms, capture data from the field, and then report and act on mission critical information, all in real time and in a secured and managed cloud environment.   The data in the field is captured on commonly deployed mobile devices, such as Android, Blackberry, Windows Mobile, Web browsers and iPhone devices.

ProntoFormsTM is the trademark of TrueContext Corporation, a wholly-owned subsidiary of TrueContext.

Established in 2001, TrueContext is a pioneer in the creation and utilization of easy to use Mobile Data Collection applications.  TrueContext's flagship product, ProntoFormsTM ( simplifies field data capture and extends the most powerful business applications to nearly any mobile device. This award-winning, patent-pending technology allows non-technical customers to securely build, manage and deploy a wide variety of forms for mobile workforce management.  For questions or additional information, please contact TrueContext at or at +1.877.668.6438.

Certain information in this press release may constitute forward-looking information.  This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company.  Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE TrueContext Mobile Solutions Corporation

For further information:

Alvaro Pombo, Chief Executive Officer
TrueContext Mobile Solutions Corporation
t: 613.599.8288 ext. 1111

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TrueContext Mobile Solutions Corporation

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