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True North Gems Completes $1.1 M Private Placement

True North Gems Inc. (TGX.V) has raised gross proceeds of $368,700 in the final closing of the non-brokered private placement announced on July 31, 2012.

This closure is in addition to the first tranche financing of $725,400 announced on August 9th, 2012. Total proceeds from both tranches amount to $1,094,100.

The Company expects to use the proceeds of the private placement to further the exploitation permitting process with the Greenland government, for seasonal exploration work, and for general working capital and other corporate purposes.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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