(TheNewswire)
Calgary, Alberta / TheNewswire / February 1, 2018 – Labrador Technologies Inc.
("Labrador" or the "Corporation") (TSXV: “LTX”) announces that $492,569 CDN in interest payable has been forgiven by
certain debt holders, including H. Ronald Sterne, President & Chief Executive Officer, Jeff Howe, Interim Chief Financial Officer
and George Wilson. All 3 are directors of the Corporation. In addition, the settlement agreements originally announced on
January 29, 2018 have been reduced to $425,728 CDN, which will be settled in exchange for the issuance of 8,514,568 common
shares (“Shares”) of the Corporation at a price of $0.05 per Share. The forgiveness of debt and settlement agreements
amount to an aggregate debt reduction of $918,298 CDN.
Labrador’s technology and expertise provides a proven platform to expand into other rapidly emerging sectors.
This debt reduction and the financing for $672,500 CDN further strengthens the Corporation’s balance sheet for acquisitions,
partnerships and/or joint ventures.
The Shares will be issued upon acceptance by the TSX Venture Exchange and approval by the Directors of the
Corporation. The Shares issued in satisfaction of the indebtedness will be subject to a four month hold period from the date of
issuance.
About Labrador Technologies
Labrador Technologies is a Calgary, Alberta based software development firm providing map-based innovative solutions
for industries seeking a visual interpretation of financial reporting.
For further information, please contact:
Ronald Sterne
T: (403) 263 6325
E: info@labradortechnologies.com
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
Not for release in the United States or to U.S. Newswire Services
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