Labrador Technologies Inc. Announces Private Placement Financing

June 9, 2009 -- Labrador Technologies Inc. ("LTI" or "Labrador" - TSX Venture Exchange: LTX) is pleased to announce a non-brokered private placement (the "Private Placement") for up to 40,000,000 units of Labrador ("Units") at a price of $0.05 per Unit, for gross proceeds of up to $2,000,000. Each Unit will consist of one (1) common share ("Common Share") of LTI and one half (1/2) common share purchase warrant ("Warrant") of LTI, with each Warrant exercisable at a price of $0.10 per Common Share for a period of two (2) years following the closing date. Pursuant to applicable securities legislation, the Common Shares and Warrants issued pursuant to the Private Placement are subject to a hold period of four months and one day from the closing date.

In connection with the Private Placement, Labrador has agreed to pay fees to qualified persons pursuant to available securities laws exemptions of up to 7.0% of the gross proceeds of the Private Placement through the issuance of up to 1,400,000 Common Shares at a deemed price of $0.10 per Common Share.

Labrador requires the proceeds from this Private Placement to eliminate the current working capital deficiency, pay outstanding receivables and the remainder of the proceeds will be used for working capital.

The Private Placement is subject to the approval of the TSX Venture Exchange Inc. (the "TSXV") and the receipt of all other necessary regulatory approvals. The completion of the Private Placement is expected to result in Iceberg Investments Limited Partnership or its designated nominee (the "L.P."), as a subscriber, holding more than 20% of the issued and outstanding shares of Labrador resulting in the L.P. becoming a "control person" (as that term is defined in the policies of the TSXV) of Labrador. As such, the policies of the TSXV requires that the Private Placement must be approved by the disinterested shareholders of Labrador. Labrador intends to obtain written consent of the disinterested shareholders of Labrador holding 50% plus one of the issued and outstanding Common Shares in lieu of calling and holding a shareholder's meeting.

The completion of the Private Placement is also subject to additional conditions precedent, including satisfactory completion by the L.P. of a due diligence review of Labrador, entering into of a formal share purchase agreement between L.P. and Labrador and three of the five current board members of Labrador resigning and being replaced by three nominees of L.P.

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Labrador (www.labradortechnologies.com) trades on the TSX Venture Exchange under the symbol "LTX".