True North Gems Inc
			Symbol			TGX
			Shares Issued			94,054,133
			Close 2009-11-24			C$ 0.105
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True North investor Halman Aldubi increases holding

2009-11-25 10:05 ET - News Release

Mr. Eli Baruch reports

HALMAN-ALDUBI GROUP ACQUIRES STAKE IN TRUE NORTH GEMS INC.

Truth North Gems Inc. investor, Halman-Aldubi Group, through Halman Aldubi Provident Funds Ltd., Halman Aldubi Mutual Funds Ltd. and Halman Aldubi Pension Funds Ltd., now holds over a total of 13,677,222 common shares and 13 million warrants of True North. Halman-Aldubi acquired the shares through a private placement on July 6, 2009, and through the facilities of the TSX Venture Exchange in ordinary course market purchases of 677,222 common shares (360,222 between Feb. 28, 2008, and July 5, 2009, and additional 317,000 common shares between July 6, 2009, and Nov. 23, 2009). In the private placement, Halman-Aldubi paid ten cents per common share and zero dollar per warrant for total cash consideration of $1.3-million. In market purchases, Halman-Aldubi paid prices ranging from eight cents to 40 cents per common share.

Because of a restriction in the terms and conditions of the warrants which prohibits any exercise, if after giving effect to such exercise, Halman-Aldubi, together with any person acting jointly or in concert with Halman-Aldubi would, in the total, beneficially own (including deemed beneficial ownership, as such term is described in Multilateral Instrument 62-104 -- takeover bids and issuer bids), or exercise control or direction over, directly or indirectly, that number of voting or equity securities of the reporting issuer which is 20 per cent or greater of the total issued and outstanding voting, or equity securities of the reporting issuer, immediately after giving effect to such exercise. The holdings would effectively represent 20 per cent of the issued and outstanding capital of True North calculated on a partially diluted basis.

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