Labrador Technologies Inc.

Labrador Technologies Inc.

May 14, 2009 16:11 ET

Labrador Technologies Announces Closing of Private Placement

CALGARY, ALBERTA--(Marketwire - May 14, 2009) -


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. As of the closing, LTI has issued 3,000,000 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 $300,000 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 this Private Placement are used by LTI for general working capital.

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Labrador ( trades on the TSX Venture under the symbol "LTX."

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy and accuracy of this release.

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