Tickers: XTSX:LTX
Tags: Oil & Gas, Media, Technology
Calgary, Alberta / TheNewswire / September 17, 2018 - Labrador Technologies Inc. ("Labrador" or the "Corporation") (TSXV: "LTX") announces its intention to complete a non-brokered private placement for up to a maximum of 20,000,000 units (the "Units") at a price of $0.05 per Unit, for aggregate gross proceeds of up to a maximum of $1,000,000 (the "Offering"). Each Unit will consist of one common share ("Share") and one common share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one Share at an exercise price of $0.10 for a period of two (2) years from the date of closing of the Offering.
Labrador may pay a cash commission or finder's fee to qualified non-related parties of up to 9% of the gross proceeds of the Offering, and broker warrants (the "Broker Warrants") equal to up to 9% of the number of Units sold in the Offering.
Labrador intends to use the gross proceeds of the Offering towards general working capital with special focus on the development of the Cannaverse software components. Labrador has over three decades of experience managing and reporting on proprietary data, and is well positioned to aggregate, analyze, and visualize the fragmented datasets of the Cannabis industry.
Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The Shares and Warrants issued under the Offering will be subject to a four month hold period from the date of closing.
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. Labrador has expanded its vision beyond Oil & Gas to include the cannabis industry.
For more information 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.
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