News... 2017-09-29 12:52 ET - News Release
Mr. Ronald Sterne reports
LABRADOR ANNOUNCES CLOSING OF SHARES FOR DEBT TRANSACTION
Pursuant to its previously announced shares-for-debt transaction, Labrador Technologies Inc. has issued 33,339,647 common shares in the capital of the company, at a price of five 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 and 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 and gas data on computers, tablets and smart phones.
We seek Safe Harbor.