Labrador Technologies Inc.
TSX VENTURE : LTX

Labrador Technologies Inc.

February 17, 2009 17:02 ET

Labrador Technologies Inc. Announces Private Placement Financing

CALGARY, ALBERTA--(Marketwire - Feb. 17, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Labrador Technologies Inc. ("LTI" or "Labrador") (TSX VENTURE:LTX) is pleased to announce a non-brokered private placement (the "Private Placement") for between 2,000,000 and 20,000,000 units of Labrador ("Units"), at a price of $0.10 per Unit, for proceeds of between $200,000 and $2,000,000, of which $200,000 has been secured. While no agent has formally been retained in connection with the Private Placement, LTI may pay a 'finders fee' to qualified persons pursuant to available securities laws exemptions.

The minimum investment requirement, per qualified individual, is $10,000 (100,000 Units), and the closing date (the "Closing Date") will be on or before April 3, 2009. Each Unit will consist of one (1) common share ("Common Share") of LTI, and one half (1/2) common share purchase warrant ("Warrant"), with each Warrant exercisable at a price of $0.20 per Common Share, for a period of 12 months following the Closing Date.

Labrador requires sufficient proceeds from this Private Placement to provide enough capital to fund its Strategic Business Plan, including the further development and Sales/Marketing of its eTriever™ product, particularly in the context of Calgary's Oil & Gas Data Centres.

Labrador eTriever (www.etriever.com) is a secure, web-based, very cost effective, 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.

The Private Placement is subject to regulatory approval of the TSX Venture Exchange Inc. 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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