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Labrador Tech arranges $90,000 private placement
2017-05-08 12:18 ET - News Release
Mr. Ronald Sterne reports
LABRADOR TECHNOLOGIES PRIVATE PLACEMENT
Labrador Technologies Inc. will be undertaking a non-brokered financing of up to nine million units for proceeds of $90,000. Each unit is offered at one cent, and shall consist of one common share and one common share purchase warrant with an exercise price of five cents for a period of two years.
Proceeds from this financing will be used to advance the corporation's map-centric technology for other sectors beyond where it is currently being used by the energy sector. In addition to providing map-based data retrieval and visualization, Labrador provides customers with the ability to access financial reports and proprietary industry data. The map-centric technology and associated source code are applicable to a variety of sectors, including renewable energy, the medical cannabis industry and any other industry requiring a precise map location, with a requirement to do financial and proprietary reporting by each location as well as aggregation reporting.
This financing is subject to TSX Venture Exchange approval.
About Labrador Technologies Inc.
Labrador Technologies is a software development firm based in Calgary, Alta., providing innovative solutions for the energy industry. The corporation is well positioned through its proprietary solutions, which include the wellTriever software, a map-based data retriever and visualizer for the oil and gas industry.