Labrador Technologies Inc.: News Release
July 18, 2013 — Calgary, Alberta (Source: Marketwired) — NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
Labrador Technologies Inc. (TSX VENTURE:LTX) (“Labrador” or the “Company”) is pleased to announce that on July 12, 2013 Labrador completed the first tranche of the non-brokered private placement (the “Private Placement”) which was originally announced on May 15, 2013. Gross proceeds totalling $100,000 have been received by the Company in connection with the issuance of 10,000,000 units of Labrador (“Units”), at a price of $0.01 per Unit. Each Unit consists of one common share (a “Common Share”) and one-half (1/2) of a Common Share purchase warrant (a “Warrant”) with each whole Warrant entitling the holder to acquire one additional Common Share of the Company at a price of $0.05 per share for a period of 12 months from the date of issuance of the Unit. The Private Placement is being conducted in accordance with the TSX Venture Exchange “Temporary Relief Measures”, and proceeds will be allocated to the following: audit and accounting expenses, legal expenses, federal and provincial payments, programming consulting expenses, landlord payments, corporate services and salary and wages.
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The Common Shares and Warrants are subject to a four month hold period in accordance with applicable securities law.
Labrador® specializes in secure, web-based retrieval software that seamlessly visualizes and maps Oil & Gas data on computers, tablets, and smartphones.
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.
Certain information regarding Labrador set forth in this news release, including the use of proceeds of the Private Placement 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>