Carlaw Capital II Corp.
TSX VENTURE : CAW.P

Carlaw Capital II Corp.

May 04, 2009 10:26 ET

Carlaw Capital II Corp. Announces Qualifying Transaction

TORONTO, ONTARIO--(Marketwire - May 4, 2009) - Carlaw Capital II Corp. ("Carlaw" or the "Corporation") (TSX VENTURE:CAW.P) is pleased to announce that it has entered into a definitive acquisition agreement with TrueContext Corporation ("TrueContext") and certain of its principal shareholders, pursuant to which Carlaw will complete a business combination to acquire TrueContext (the "Proposed Transaction").

When completed, the Proposed Transaction will constitute Carlaw's qualifying transaction pursuant to the policies of the TSX Venture Exchange (the "TSXV"), and is subject to compliance with all necessary regulatory approvals and certain other terms and conditions. A comprehensive press release with further particulars relating to the Proposed Transaction will follow in accordance with the policies of the TSXV.

ABOUT TRUECONTEXT CORPORATION

Established in 2001, TrueContext is a pioneer in the creation and utilization of easy to use mobile forms applications. Their flagship product, Pronto Forms (www.prontoforms.com) simplifies field data capture and extends the most powerful business applications to nearly any mobile device. This award-winning, patented 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 sales@truecontext.com or at +1.877.333.9779.

ABOUT CARLAW CAPITAL II CORP.

Carlaw Capital II Corp. is a capital pool company ("CPC") formed under the TSXV CPC program.

Completion of the proposed transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the proposed transaction, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a CPC should be considered highly speculative.

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 Corporation 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 Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. 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.

Contact Information

  • Carlaw Capital II Corp.
    Amar Bhalla
    Chairman and Chief Executive Officer
    (416) 915-8127
    abhalla@hbinvest.com
    or
    TrueContext Corporation
    Alvaro Pombo
    Chief Executive Officer
    (613) 599-8288 ext. 1111
    apombo@truecontext.com