Labrador Technologies Inc.
TSX VENTURE : LTX

Labrador Technologies Inc.

October 14, 2009 17:43 ET

Labrador Technologies Inc.: News Release

CALGARY, ALBERTA--(Marketwire - Oct. 14, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Labrador Technologies Inc. ("Labrador" or "LTI") (TSX VENTURE:LTX) is pleased to advise that further to the policies of the TSX Venture Exchange, it has closed its non-brokered private placement ("Private Placement") announced at 10 cents ($0.10) per unit. LTI has issued 2,163,750 units at a price of $0.10 per unit. Each unit consists of one common share, plus one-half of one common share purchase warrant of LTI. Each whole warrant entitles the holder to acquire one additional common share of LTI at a price of $0.20 per share, for a period of twelve (12) months following the closing date of the Private Placement. Proceeds of $216,375 were raised from this Private Placement.

The common shares and warrants issued in connection with this Private Placement are subject to a four-month and one day hold period, pursuant to applicable securities legislation and the policies of the TSX Venture Exchange. Labrador intends to seek approval from the TSX Venture Exchange to continue with raising additional capital. Proceeds of the Private Placement will be used by LTI for general working capital purposes, ongoing eTriever development and to participate in continued eTriever Distribution negotiations.

To learn more about eTriever(TM), please visit www.eTriever.com.

Labrador (www.labradortechnologies.com) trades on the TSX Venture under the symbol "LTX."

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information