(TheNewswire)
Calgary, Alberta / TheNewswire / March 22, 2018 – Labrador Technologies Inc.
("Labrador" or the "Corporation") (TSXV: “LTX”) announces that it plans to proceed with an Initial Token Offering (“ITO”),
subject to receipt of applicable regulatory approvals, with the assistance of its
strategic partner, Bacancy Technology (“Bacancy”). ITO participants will receive utility tokens that will provide users with
access to products and/or services. This ITO will utilize the proprietary map-based financial reporting and visualization software
designed by Labrador.
The project is centred on the cannabis business vertical, displayed in “mock-up” as cannaTriever on the
www.welltriever.com website since April 2017. “I am very impressed to see how compatible the current
Labrador software is to a decentralized cannabis blockchain project,” says Daniel Westby, Founder of Bitminers Canada. “Software of
this magnitude takes years to develop and a lot of upfront capital - having it already functioning for years and so easily
adaptable to the vision of Ron’s new project makes me excited to see this come to life!”
In early 2016, Labrador announced its intention to move beyond the Oil & Gas sector with its generic, map-based
visualization software and identified the cannabis sector as a compelling opportunity. Initially, cannabis Licenced Producers will
be the focus. Bacancy will develop the proprietary cannabis database and provide critical blockchain and smart contract
expertise in this enterprise.
About Labrador Technologies
Labrador Technologies is a Calgary, Alberta based software development firm providing map-based solutions for
industries seeking a visual interpretation of financial reporting.
For more information contact:
Kelby Price
T: 403-613-2511
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.
Forward Looking and Cautionary Statements
This news release contains forward-looking statements relating to successful formation, financing
and regulatory approval of an ITO. These forward-looking statements may include opinions, assumptions, estimates and management’s
assessment of future plans and operations. Forward-looking statements typically use words such as “will,” “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “project,” “should,” “plan,” and similar expressions suggesting future outcomes,
and include statements that actions, events or conditions “may,” “would,” “could,” or “will” be taken or occur in the future.
The forward-looking statements are based on various assumptions including expectations regarding the nature and successful
completion of an ITO; the ability to obtain regulatory approvals (including stock exchange approvals, as applicable) to complete an
ITO; market for the tokens and underlying products and/or services; negotiation of agreements with Bacancy and other partners on
favourable terms; timing and terms of legalization and provincial regulation of the cannabis industry; adaptability of our
technology to meet cannabis industry-specific needs; the outlook for the cannabis industry in general; estimated amounts and timing
of capital expenditures; assumptions concerning the timing of regulatory approvals; the state of the economy; results of
operations; business prospects and opportunities; future exchange and interest rates; the Corporation’s ability to obtain personnel
in a timely manner to carry out the ITO and related activities; and the ability of the Corporation to
access capital and credit. While the Corporation considers these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect.
Forward-looking statements are subject to a wide range of assumptions, known and unknown risks and
uncertainties and other factors that contribute to the possibility that the predicted outcome will not occur, including, without
limitation: inability to obtain regulatory approval (including stock exchange approvals, as applicable) to complete an ITO;
inability to obtain regulatory approval that would permit secondary trading of tokens issued pursuant to an ITO; risks associated
with regulation of the cannabis industry in Canada and globally; loss of markets; price volatility; quality and utility of data;
competition; inability to negotiate acceptable terms with current and future lenders and/or equity providers; inability to obtain
requisite approvals of various stakeholders; inability to retain services; incorrect assessment of the value of and/or failure to
realize the anticipated benefits of acquisitions or partnerships; general economic conditions; delays resulting from inability to
satisfy various ITO closing conditions; failure to meet credit facility covenants, if any; and ability to access sufficient capital
from internal and external sources. Readers are cautioned that the foregoing list of factors is not exhaustive.
Although Labrador believes that the expectations represented by such forward-looking statements are
reasonable, there can be no assurance that such expectations will be realized. As a consequence, actual results may differ
materially from those anticipated in the forward-looking statements and you should not rely unduly on forward-looking statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as
required by applicable law, Labrador does not undertake any obligation to publicly update or revise any forward-looking
statements.
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