TrueContext Mobile Solutions Corporation (TSX-V: TMN) said it has issued an aggregate of 2,777,778 units at $0.18 per unit for gross proceeds of $500,000 as part of a non-brokered private placement of up to $4,000,000.
TrueContext Mobile Solutions raised $1,000,000 from an initial closing on December 21, 2011.
Net proceeds from the private placement will be primarily used for sales automation for operator channels and commencement of operator channels in new geographies and for working capital purposes.
