31 Dec Labrador Technologies Stock Option Grant
Labrador Technologies Inc. (“Labrador” or the “Corporation”) (TSXV: “LTX”) is pleased to announce the grant of incentive stock options under the Corporation’s current stock option plan to certain directors, officers and consultants to acquire up to 12,500,000 common shares of the Corporation. Stock options are being granted to the directors and consultants in lieu of cash compensation.
The exercise price of the options is $0.06, representing the closing market value of the Company’s common shares on the date of the grant. Half of the options will vest immediately, and the balance will vest on January 9, 2019. The stock options granted will have an expiry date of January 9, 2023. As of the last reported financial period, the Corporation had no current stock options outstanding or available for exercise under the existing stock option plan.
This stock option grant remains subject to TSX Venture Exchange approval.
About Labrador Technologies
Labrador® eTriever is a secure, web-based, generic data retriever, which thrives in complex database environments such as the Oil & Gas industry. eTriever™ goes well beyond conventional methods of oil and gas data retrieval to provide wireless data access using such devices as the BlackBerry™, the iPhone™, and the iPad™.
For further information, please contact:
Labrador Technologies Inc.
Telephone: (403) 263-6325
Certain information regarding Labrador set forth in this news release, including the closing of the Increased Offering, the use of proceeds of the Offering may constitute forward-looking statements under applicable securities laws and necessarily involve substantial known and unknown risks and uncertainties. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.