TrueContext Mobile Solutions Corporation Announces Terms for Proposed Private
Placement

OTTAWA, Sept. 9 /CNW/ - TrueContext Mobile Solutions Corporation (TSXV:TMN) ("TrueContext" or the "Company"), a mobile data solutions company today announced that it plans to offer through a non-brokered private placement of up to 5,000,000 units at a price of $0.25 per unit. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to acquire one common share at an additional purchase price of $0.50 per share at any time up to twenty-four months from the closing date. It is currently anticipated that certain insiders of TrueContext will be participating in the private placement. The proceeds will be used to fund TrueContext operations, including expansion with operators.

TrueContext may, at its discretion, pay a finder's fee of up to 6% of the gross proceeds and grant an aggregate of up to 300,000 compensation warrants. These compensation warrants will enable the holder to acquire an equivalent number of common shares at a price of $0.25 per common share up to twelve months after the closing date.

Closing of the proposed private placement is subject to certain customary conditions, including, but not limited to, the execution of definitive subscription agreements with subscribers, and the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

The Company also announced today that options to purchase up to 30,000 common shares of the Company were approved for grant by the Board of Directors to a director pursuant to the terms of the Company's stock option plan and are exercisable for a period of five years at an exercise price equal to $0.15 per common share. Stock option grants are subject to necessary regulatory approvals.

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.

ABOUT PRONTOFORMS(TM) AND TRUECONTEXT

TrueContext ProntoForms(TM) 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 Blackberry, Windows Mobile, Web browsers and iPhone devices.

ProntoForms(TM) 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, ProntoForms(TM) (www.prontoforms.com) 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 [email protected] 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 www.sedar.com.

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.

For further information: Alvaro Pombo, Chief Executive Officer, TrueContext Mobile Solutions Corporation, t: 613.599.8288 ext. 1111, e: [email protected]