Labrador Technologies Inc. Announces Debt Conversion, Private Placement Financing and Resignation of Officer

March 17, 2010 - Calgary, Alberta

Labrador Technologies Inc. (“LTI” or “Labrador” - TSX Venture: LTX) is pleased to announce the proposed conversion of certain existing debt into common shares and a concurrent private placement.

Debt Conversion

Certain existing creditors of LTI have together agreed to convert their combined existing subordinated debt, including accrued interest, of approximately $247,500 into approximately 2,750,000 common shares of Labrador. The subordinated debt is being converted at $0.09 per common share (with no warrant), which is a 20% premium to the closing price of the Labrador common shares on March 16, 2010 of $0.075. Closing of the Debt Conversion is expected to occur on or before April 19, 2010.

Private Placement

Concurrent with the Debt Conversion, Labrador will complete a non-brokered private placement (the “Private Placement”) for up to 5,000,000 units of Labrador (“Units”), at a price of $0.10 per Unit, for proceeds of up to $500,000. Each Unit will consist of one (1) common share (“Common Share”) of LTI, and one half (1/2) common share purchase warrant (“Warrant”), with each Warrant exercisable at a price of $0.20 per Common Share, for a period of 24 months following the Closing Date. No agent has been retained in connection with the Private Placement; however, LTI may pay a finder's fee to qualified persons in accordance with applicable securities regulations. Closing of the Private Placement is expected to occur on or before April 19, 2010.

On November 6th, 2009, LTI signed a global strategic agreement with IHS Inc. (IHS) to distribute LTI’s eTriever™ (www.ihs.com/etriever) web application bundled with IHS Canadian Oil and Gas Critical Information. Labrador requires the proceeds from the Private Placement to provide working capital to eliminate accrued liabilities and to underwrite continued eTriever development to support this agreement.

The Debt Conversion and the Private Placement are subject to the approval of the TSX Venture Exchange Inc. (the "TSXV") and the receipt of all other necessary regulatory approvals.

Resignation

Labrador announces that it has accepted the resignation of Ms. Kris Majury as President. The Board of Directors thanks Ms. Majury for her work on behalf of LTI and wishes her well in her future endeavors. The Board of directors has re-appointed Mr. Ronald Sterne as President of Labrador.

Labrador eTriever is a secure, web-based, generic data retriever, which thrives in complex database environments such as the Oil & Gas industry. eTriever™ goes beyond conventional oil and gas web access to provide wireless data retrieval for smartphones such as BlackBerry™ and iPhone™. Labrador (labradortechnologies.com) trades on the TSX Venture under the symbol “LTX.”

For further information, please contact:

Birgit Becker
Office Manager
Labrador Technologies Inc.
Telephone: (403) 261-7397