Labrador Technologies Inc.
TSX VENTURE : LTX

Labrador Technologies Inc.

May 06, 2011 16:18 ET

Labrador Technologies Inc. Announces Grant of Incentive Stock Options

CALGARY, ALBERTA--(Marketwire - May 6, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Labrador Technologies Inc. ("LTI" or "Labrador") (TSX VENTURE:LTX) announces that pursuant to the terms and conditions of its Stock Option Plan, it has granted, in the aggregate, 3,460,000 incentive stock options to purchase Common Shares of Labrador (the "Options"), to certain of its Directors, Officers, Employees and Consultants. The Options are exercisable over a three year period at an exercise price of $0.10 per share, with 33.3% vesting immediately, 33.3% in one year, and the final 33.3% vesting in two years. Following the grant of the Options, LTI will have 802,613 options available for issuance pursuant to its Stock Option Plan.

Labrador® eTriever is a secure, web-based, generic data retriever, which thrives in complex database environments such as the Oil & Gas industry. eTriever™ goes well beyond conventional methods of oil and gas data retrieval to provide wireless data access using such devices as the BlackBerry™, the iPhone™, and the iPad™.

Advisory

Certain information regarding Labrador set forth in this news release, including the closing of the Increased Offering, the use of proceeds of the Offering 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.

Neither the 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

  • Labrador Technologies Inc.
    Ronald Sterne
    President
    (403) 263-6325