LABRADOR TECHNOLOGIES INC. GOES WIRELESS with eTRIEVER™ SERVICE
Users can now access current oil and gas data with their mobile, hand-held devices
February 21st, 2006 – Calgary, Canada - Labrador Technologies Inc. (“LTI” or “Labrador” - TSX Venture: LTX) is pleased to announce a major advancement with its eTriever™ product – going well beyond conventional oil and gas web access – to provide wireless data retrieval for proven hand-held devices, such as BlackBerries™, Palm® Treos™, and Microsoft® Windows Mobile™ Smart Phones.
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For staff on-the-move, field personnel, and anyone requiring information ‘on-demand’, eTriever provides a single, cross-platform, hand-held solution, so its clients can stay productive on the road, in meetings, during lunch, or anywhere else. Now, users can enjoy the same real-time access to their oil and gas data-stores through their wireless browsers – as they do sitting at their desks.
Labrador’s eTriever™ is a secure, web-based, generic data retriever, which thrives in complex database environments, such as the oil and gas industry. Importantly, eTriever™ offers its users the proven strengths of LTI’s dynamic Labrador® query back-bone to access the most current data available, with all of the features of the Web 2.0 framework, popularized by Google’s™ successes. As a web-based offering, eTriever™ requires no installation, no CD updates, and no maintenance, while providing comprehensive search, reporting, and exporting – and employing Microsoft’s impressive Virtual Earth satellite imagery mapping. eTriever™ licensing is facilitated with an easily readable, straight-forward “Click Wrap Agreement.”
Said Tim Breitkreutz, C.T.O. of Labrador, “the opportunity to have all of your oil and gas data, available at your fingertips, is highly convenient – the ability to have an oil and gas “well-ticket”, right in the palm of your hand, borders on the revolutionary.”
This expanded accessibility to data broadens significantly eTriever™’s market by now providing mobile service companies, field geologists, field engineers, landmen, industry sales and service personnel – including stock brokers and analysts – with easily affordable, wireless access to current oil and gas data, such as that offered by the geoLOGIC Data Center (gDC). The gDC is Calgary’s first Data Centre to request that eTriever™ services be made available for gDC’s data clients, and eTriever™ is now commercially available at the gDC. Additional datasets, both proprietary and public, will be made accessible by eTriever™, as required.
LTI is also pleased to announce that it has now secured $200,000 of investment financing, for the purchase of 2,000,000 shares, through LTI’s non-brokered, Private Placement Financing, initiated on January 26th, 2006. LTI will issue between 2,000,000 and 4,000,000 units of Labrador (“Units”), at a price of $0.10 per Unit, for proceeds of up to $400,000 to LTI.
The minimum investment requirement, per qualified individual, is $10,000 (100,000 Units), and the closing date (“Closing Date”) will be on or before February 28th, 2006. Each Unit will consist of one (1) common share (“Common Share”) of LTI, and one-half (1/2) share purchase warrant (“Warrant”), with each whole Warrant exercisable at a price of $0.20 per Common Share, for a period of 12 months following the Closing Date.
About Labrador
Labrador Technologies Inc. is in its 26th year of creating Labrador “connections” between the data stores that companies invest in, and the destinations which they choose for their data. LTI develops data retrieval, reporting, and exporting software, specializing in Data-Flow Management™ solutions, currently for the oil and gas industry.
Whether delivering data to a Labrador® application, a third party application, an enterprise service bus, or a portal, Labrador has the ability to retrieve and deliver data to the right place, at the right time. Labrador’s DFM™ software and services help software vendors, data vendors, and company developers alike deliver data to their target audiences by “plugging” users in, and minimizing the need for costly, ongoing maintenance and intervention.
Labrador (www.labradortechnologies.com) trades on the TSX Venture under the symbol “LTX.”
For further information, please contact:
Bill Rafih,
Director, Corporate Communications
Labrador Technologies Inc.
Telephone: (403) 263-6325
The TSX Venture Exchange Inc. does not accept responsibility for the adequacy and accuracy of this release.