Trueclaim Exploration Inc.
TSX VENTURE : TRM

September 24, 2009 08:48 ET

Trueclaim Enters Into an Agreement With First Canadian Securities ®

ST. THOMAS, ONTARIO--(Marketwire - Sept. 24, 2009) - Trueclaim Exploration Inc. ("Trueclaim") (TSX VENTURE:TRM) is pleased to announce that it has entered into a Consulting and Assistance Agreement (the "Agreement") with First Canadian Securities ® (a division of Limited Market Dealer Inc.), pursuant to which First Canadian Securities ® will provide financial and capital markets advisory services to assist Trueclaim's efforts to expand its base of properties with near-term production potential. First Canadian Securities is affiliated with MineralFields Group.

MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. First Canadian Securities® is active in leading resource financings on competitive, effective and service-friendly terms. MineralFields and Pathway Asset Management have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities®.

Under the agreement First Canadian Securities ® will actively search from its extensive client list and select companies and projects that fit Trueclaim Explorations criteria.

First Canadian Securities ® will review the land packages and deals available and make recommendations on purchases and structure, provide flow through financing through association with MineralFields and Pathway LPs, facilitate hard dollar financing, evaluate pricing and deal structure in the case of each recommendation and perform site visits and due diligence on projects as warranted.

First Canadian Securities ® has presented Trueclaim with an initial nine opportunities for consideration which First Canadian could in turn provide the necessary flow-through and assistance in hard dollar financings.

"We are very pleased to be in this relationship with First Canadian Securities ®", said Eric Plexman, President. "This is an important milestone in the growth of Trueclaim Exploration Inc. and we look forward to working with First Canadian Securities ® to expand and develop our holdings".

The term of the engagement will be for a period of twelve months and may be extended by mutual agreement of the parties.

As part of the consideration for the engagement, the Company will issue to First Canadian Securities ® 250,000 common share purchase warrants (each a "Warrant"). Each Warrant is exercisable into one common share (a "Share") of the Company at an exercise price of $0.18 per Share, or such other price as may be required by the TSX Venture Exchange, for a period of 24 months from the date of the Financial Advisory Agreement. The Warrants and any Shares issued upon exercise of the Warrants, will be subject to applicable hold periods required by securities laws or regulations or the TSX Venture Exchange (the "Exchange").

The engagement of First Canadian Securities ® and the terms of the Agreement are subject to regulatory and Exchange approvals.

We see safe harbor.

ON BEHALF OF THE BOARD OF DIRECTORS

Eric Plexman, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Trueclaim Exploration Inc.
    Eric Plexman
    519-851-9202
    1-888-686-1405 (FAX)
    www.trueclaim.ca