Labrador Announces Closing of Shares for Debt Transaction

09/29/17 12:09 PM EDT

(TheNewswire)

Calgary, Alberta / TheNewswire / September 29, 2017 - September 29, 2017 -- Labrador Technologies Inc. (TSX Venture: LTX) ("Labrador" or the "Company") announces that, pursuant to its previously announced shares for debt transaction, it has issued 33,339,647 common shares in the capital of the Company ("Common Shares"), at a price of $0.05 cents per share, in satisfaction of $1,666,982.38 of indebtedness owed to certain creditors.

 

The Company determined to satisfy the indebtedness with Common Shares in order to preserve its cash for use on its wellTriever™ & mapTriever™ software, to work with its strategic partners, and for general working capital. The Common Shares are subject to a four month hold period from the date of issuance.

 

There are currently 145,265,784 Common Shares issued and outstanding.

 

Labrador® specializes in secure, web-based data retrieval software that maps and visualizes Oil & Gas data on computers, tablets, and smartphones.

 

For further information, please contact:

H. Ronald Sterne

President & Chief Executive Officer

Labrador Technologies Inc.

Telephone: (403) 263-6325

Neither 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.

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