OREANDA-NEWS. True North Energy Corp. (OTC: TNEN) ("True North"), through its wholly-owned subsidiary Marco Capital Ltd., signed a binding letter of intent with LeCrown Ltd. Hong Kong ("LeCrown") to complete on December 1, 2015. Operating from Milan, Italy, LeCrown designs and produces handmade Italian fashion shoes, with a heritage from the 1940's. LeCrown shoes are distributed through 198 high-end stores in Italy, and internationally including Europe, Japan, and the U.S.A. Its online store can be found at www.LeCrown.it.

President of TNEN, Gil Steedley, said, "We are excited to begin our diversification strategy with an important stake in the Italian fashion arena. LeCrown is a valuable addition to the True North portfolio."

LeCrown President and designer Nicolo Golia Bedendo, said, "LeCrown welcomes True North as a core stakeholder as it furthers its international business strategy development. We have invited and Mr. Steedley has accepted, for True North to appoint a member to the Board of Directors of LeCrown."

Traditionally, True North Energy Corporation has engaged in the identification, acquisition and development of oil and gas properties. Through its subsidiary, TN Energy Corp., a Texas Corporation, the company holds overriding royalty interests on properties located in Colorado and Oklahoma. To explore opportunities in various industries, TNEN holds 100% of Marco Capital Limited, a Hong Kong company. Marco Capital holds an interest in LeCrown.