Labrador Technologies Inc.
TSX VENTURE : LTX

Labrador Technologies Inc.

February 09, 2015 18:17 ET

Labrador Arranges $100,000 Private Placement

CALGARY, ALBERTA--(Marketwired - Feb. 9, 2015) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Labrador Technologies Inc. (TSX VENTURE:LTX) ("Labrador" or the "Company") announces the allocation of the proceeds from its previously announced $100,000 non-brokered private placement (the "Private Placement").

In accordance with the TSX Venture Exchange's waiver of the minimum pricing requirement, Labrador proposes to issue 10,000,000 common shares at a price of $0.01 per common share. Labrador is relying on the "Temporary Relief Measures" of the TSX Venture Exchange. Proceeds of the Private Placement will be allocated as follows: $20,000 for sales expenses and $80,000 for programming expenses.

Labrador® specializes in secure, web-based data retrieval software that maps and visualizes Oil & Gas data on computers, tablets, and smartphones.

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.

Certain information regarding Labrador set forth in this news release, including the closing of the private placement and the use of proceeds of the private placement may constitute forward-looking statements under applicable securities laws and necessarily involve substantial known and unknown risks and uncertainties. The forward-looking statements contained in this document are made as at the date of this news release and Labrador does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Contact Information

  • Labrador Technologies Inc.
    Bruce MacDonald
    President & CFO
    (403) 263-6325