TrueContext Mobile Solutions Corporation (TSX VENTURE:TMN) ("TrueContext" or the
"Company"), a mobile data solutions company, today announced that it has entered
into an agreement to sell certain domestic and international non-core patents in
return for one-time net proceeds of approximately US$570,000. 


"TrueContext's foundation is based on innovation and we have a powerful and
proprietary patent portfolio. We have chosen to monetize a subset of non-core
patents related to content distribution and management for mobile devices," said
Alvaro Pombo, TrueContext President and Chief Executive Officer. "We have
improved our financial position and liquidity to continue focusing on growing
our ProntoForms business. At the same time, we do not expect any impact on our
day-to-day operations because we retain the ability to incorporate the sold
technology into our current and future products." 


The purchaser of the patents is not related to TrueContext and will not be
identified due to confidentiality restrictions. 


ABOUT PRONTOFORMS(R) AND TRUECONTEXT

ProntoForms is a mobile workflow solution used by 2,400 business customers.
Available for smartphones and tablets, ProntoForms incorporates a mobile device
App, a Web management portal to manage teams and data flow, and provides the
ability to export or connect data to the back office or to popular cloud
services. 


TrueContext, traded on the TSXV under the symbol TMN, has a powerful and
proprietary patent portfolio, from which the ProntoForms mobile App and Web
reporting portal have been developed. ProntoForms is the registered trademark of
TrueContext Corporation, a wholly-owned subsidiary of TrueContext.


FORWARD-LOOKING INFORMATION

Certain information in this press release may constitute forward-looking
information, including information regarding the timing of receipt and
recognition of revenues from the transaction described as well as the expected
impacts of such transaction on the operations of the Company. 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 Company
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 Company. 


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
TrueContext Mobile Solutions Corporation
Alvaro Pombo
Chief Executive Officer
1 (613) 599-8288 ext. 1111

Prontoforms Corporation (TSXV:TMN)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Prontoforms Corporation Charts.
Prontoforms Corporation (TSXV:TMN)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Prontoforms Corporation Charts.