True North Gems Inc. (TSXV:TGX) announced a non-brokered private placement of up to 10,000,000 units at CAD 0.075 per unit for gross proceeds of up to CAD 750,000 on January 2, 2019. Each unit will comprise one post-consolidated common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at CAD 0.1 per share for a period of three years. The securities to be issued are subject to a hold period of four month. The company may pay finder's fees. The transaction is subject to a statutory hold period of four month. The transaction is subject to certain closing conditions, including, but not limited to, the receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.