Halman-Aldubi Group acquires stake in True North Gems Inc.

/FOR DISSEMINATION IN CANADA AND OVER CANADIAN NEWS SERVICES ONLY./

TORONTO, Nov. 25 /CNW/ - Halman-Aldubi Group ("Halman- Aldubi") as investment manager, announced that through Halman Aldubi Provident Funds Ltd., Halman Aldubi Mutual Funds Ltd. and Halman Aldubi Pension Funds Ltd. (collectively, the "Halman-Aldubi Entities"), it holds over an aggregate of 13,677,222 common shares and 13,000,000 warrants of True North Gems Inc. (the "Reporting Issuer"). Halman-Aldubi acquired the shares through a private placement on July 6th, 2009 and through the facilities of the TSX Venture Exchange in ordinary course market purchases of 677,222 common shares (360,222 between 28/2/08-5/7/09 and additional 317,000 common shares between 6/7/09-23/11/09). In the private placement, Halman-Aldubi paid $0.1 per common share and $0 per warrant for aggregate cash consideration of $1,300,000. In market purchases, Halman-Aldubi paid prices ranging from $0.08 to $0.4 per common share.

Because of a restriction in the terms and conditions of the warrants which prohibits any exercise, if after giving effect to such exercise, Halman-Aldubi, together with any person acting jointly or in concert with Halman-Aldubi would in the aggregate beneficially own (including deemed beneficial ownership, as such term is described in Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids), or exercise control or direction over, directly or indirectly, that number of voting or equity securities of the Reporting Issuer which is 20% or greater of the total issued and outstanding voting or equity securities of the Reporting Issuer immediately after giving effect to such exercise, these holdings effectively represent 20% of the issued and outstanding capital of the Reporting Issuer calculated on a partially diluted basis.

Halman-Aldubi acquired the common shares and warrants for investment purposes and may in the future increase or decrease its ownership of securities of the Company from time to time depending upon the business and prospects of the Company and future market conditions.

SOURCE HALMAN-ALDUBI GROUP

For further information: For further information: Eli Baruch, accountant, phone: 972-3-6000279, fax: 972-3-6121800, e-mail: eli_b@gemel.co.il

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HALMAN-ALDUBI GROUP

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