VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/13/12 -- True North Gems Inc. (the "Company") (TSX VENTURE: TGX) announces that it has raised gross proceeds of $725,400 in an initial closing of the non-brokered private placement announced on July 31, 2012. The funds were raised through the issuance of 14,508,000 units at a price of $0.05 per
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