Mr. Alvaro Pombo reports

TRUECONTEXT MOBILE SOLUTIONS CORPORATION ANNOUNCES AN ADDITIONAL CLOSE AS PART OF A PRIVATE PLACEMENT OF UP TO $4.0 MILLION

TrueContext Mobile Solutions Corp. has issued an aggregate of 2,777,778 units at 18 cents per unit (each unit consisting of one common share and one-half of one common share purchase warrant) for gross proceeds of $500,000 as part of a non-brokered private placement. Each whole common share purchase warrant will entitle the holder thereof to acquire one common share at an additional purchase price of 30 cents per share at any time up to June 30, 2014. Unless permitted under applicable securities legislation, the common shares and common share purchase warrants comprising the units may not be traded before June 23, 2012.

This closing is in addition to a closing for $1-million on the same terms announced on Dec. 21, 2011, and is part of a non-brokered private placement of up to an aggregate of 22,222,222 units at 18 cents per unit for aggregate gross proceeds of up to $4-million. The company is continuing its efforts to raise up to $4-million under the current private placement and, subject to regulatory approval, will close in tranches as they become available.

It is currently anticipated that certain insiders of TrueContext will be participating in the private placement. The 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. The private placement is non-brokered; however, the company may pay finders' fees in accordance with the rules and policies of the TSX Venture Exchange.

We seek Safe Harbor.