Labrador Technologies Completes Debt Settlements

(TheNewswire)

Calgary, Alberta – TheNewswire - December 11, 2019 – Labrador Technologies Inc. (“Labrador” or the “Corporation”) (TSXV:LTX) announces that, further to its press releases dated May 28, 2019 and October 28, 2019, it has completed the previously announced share for debt transactions for the for the settlement of $261,800 (the “Indebtedness”) owing to certain arm’s length creditors of the Corporation. Final approval of the issuance and listing of these shares were granted by the TSX Venture Exchange on November 13, 2019 and October 31, 2019.  As payment in the full Indebtedness, the Corporation issued to such creditor 5,236,017 Common Shares at a price of $0.05 per Common Share. All securities issued in connection with the transactions described above are subject to a statutory four-month hold period. 

About Labrador Technologies

Labrador Technologies Inc. is a Calgary, Alberta based technology company evaluating new opportunities in the technology sector.

For further information, please contact:

Kaan Camlioglu, Interim Chief Executive Officer

T: (403) 818-1091

E: [email protected]

Dean Stuart

T: (403) 617-7609

E: [email protected]

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 Statements Certain information in this press release may constitute forward looking information within the meaning of securities laws. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "proposed", "process," "expects," "explore," and other similar words. These statements are based on the current estimates and assumptions of our management as of the date of this press release and are subject to risks, uncertainties, changes in circumstances and other factors that may cause actual results to differ materially from the information expressed or implied by forward-looking statements made in this press release. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the shares for debt transaction with the Estate; the debt waiver with the Estate; and the anticipated cancellation of stock options held by such directors, officers, former consultants and former employees, and the applicability of the MI 61-101 exemption . Examples of such statements include statements regarding potential strategic alternatives. Given these uncertainties, you should not place undue reliance on the forward-looking statements in this press release. The forward-looking statements contained in this document are made as at the date of this news release and Labrador does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

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