Labrador Technologies Inc.
TSX VENTURE : LTX

Labrador Technologies Inc.

February 25, 2008 11:54 ET

Labrador Technologies Inc. Announces Private Placement Financing

CALGARY, ALBERTA--(Marketwire - Feb. 25, 2008) - Labrador Technologies Inc. ("LTI" or "Labrador") (TSX VENTURE:LTX) is pleased to announce a private placement (the "Private Placement") for between 2,000,000 and 6,000,000 units of Labrador ("Units"), at a price of $0.25 per Unit, for proceeds of between $500,000 and $1,500,000 to LTI, of which $500,000 has been received. While this is a non-brokered Private Placement, LTI will pay commission to qualified individuals and institutions, pursuant to available securities laws exemptions.

The minimum investment requirement, per qualified individual, is $10,000 (40,000 Units), and the closing date (the "Closing Date") will be on or before March 31, 2008. Each Unit will consist of one (1) common share ("Common Share") of LTI, and one half (1/2) share purchase warrant ("Warrant"), with each Warrant exercisable at a price of $0.45 per Common Share, for a period of 12 months following the Closing Date.

Labrador intends to use the proceeds from this Private Placement as general working capital and for accelerating development of LTI's web-based data browser, Labrador® eTriever™, and for the execution of its sales/marketing plan. In this regard, LTI is pleased to announce that the company has hired two full-time sales people and has retained two senior sales consultants. LTI is also in the process of recruiting two more experienced software developers, and a system administrator/tester to support its dedicated team.

Labrador eTriever (www.etriever.com) is a secure, web-based, generic data retriever, which thrives in complex database environments, such as the oil and gas industry. As a web-based offering, eTriever™ requires no installation, no CD updates, and no maintenance - while providing "minimal-click" search, reporting, and exporting capabilities, as well as employing both Microsoft®'s Virtual Earth and Google® Map to view satellite imagery mapping. Further, eTriever™ goes well beyond conventional oil and gas web access to provide wireless data retrieval for proven hand-held devices, such as BlackBerries™, Palm® Treos™, Microsoft® Windows Mobile™ Smart Phones, and when available, Apples' iPhone.

LTI reserves the right to close the Private Placement, without notice, if LTI deems it unnecessary to complete a fully exercised Private Placement. The Private Placement is subject to regulatory approval, and LTI is required to file a formal application with the TSX Venture Exchange Inc. to maintain this price reservation.

About Labrador

Labrador Technologies Inc. is in its 28th year of creating Labrador "connections" between the data stores that companies invest in, and all of the places to send this data. LTI develops data retrieval, reporting, and exporting 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 alike deliver data to their target audiences by "plugging" users in, and minimizing the need for costly, ongoing maintenance and intervention.

Labrador (www.labradortechnologies.com) 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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