Labrador Technologies Inc.

Labrador Technologies Inc.

August 17, 2005 09:01 ET

Labrador Technologies Completes Private Placement

CALGARY, ALBERTA--(CCNMatthews - Aug. 17, 2005) -

(Not for dissemination in the United States of America)

Over-subscribed Private Placement closes ahead of schedule

Labrador Technologies Inc. ("LTI")(TSX VENTURE:LTX), is pleased to advise that it has closed its $200,000, non-brokered Private Placement, announced July 22nd, with a previous closing date of October 31st, 2005. The Private Placement was over-subscribed, and subscriptions were terminated at $275,000. Accordingly, LTI has issued 2,750,000 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 Labrador at a price of $0.20 per share, for a period of twelve (12) months following the closing date of this Private Placement.

The common shares and warrants issued in connection with this Private Placement are subject to a four-month hold period, pursuant to applicable securities laws and the policies of the TSX Venture Exchange. The "hold period" expires on December 18, 2005.

Proceeds of this financing will be used by LTI for general working capital, and for taking advantage of its Labrador® product suite to develop a generic, web-based capability, initially for U.S. and Canadian Oil & Gas Data Centres, as well as for their clients.

About Labrador

Labrador Technologies Inc. is in its 25th year of building Labrador connections between the data companies invest in, and the destinations companies choose for their data. LTI develops data retrieval, reporting, and analysis software, specializing in Data-Flow Management™ solutions, currently for the oil and gas industry.

Whether delivering data to a Labrador application, a third party application, an enterprise service bus, or a portal, Labrador has the ability to retrieve and deliver data to the right place, at the right time. Labrador's DFM™ software and services help software vendors, data vendors, and company developers deliver data to their target audiences by "plugging" users in and minimizing the need for costly, ongoing maintenance intervention.

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.

Contact Information

  • Labrador Technologies Inc.
    Bill Rafih
    Director, Corporate Communications
    (403) 263-6325