Labrador Technologies Completes Private Placement
Non-brokered Private Placement Fully Subscribed
March 3rd, 2006 - Calgary, Alberta - Labrador Technologies Inc. (“LTI”) (LTX:TSX.V), is pleased to advise that it has closed its $400,000, non-brokered Private Placement, announced on January 24th. The Private Placement was fully-subscribed, and accordingly, LTI has issued 4,000,000 units at a price of $0.10 per unit. Each unit consists of one common share, plus one-half of one common share purchase warrant of LTI. Each whole warrant entitles the holder to acquire one additional common share of Labrador at a price of $0.20 per share, for a period of twelve (12) months following the closing date of this Private Placement.
The common shares and warrants issued in connection with this Private Placement are subject to a four-month hold period, pursuant to applicable securities laws and the policies of the TSX Venture Exchange. The “hold period” expires on July 3rd, 2006.
Proceeds of this financing will be used by LTI for general working capital, and for the further enhancement and marketing of its eTriever™ oil and gas data retrieval product. To learn more about eTriever, please visit www.eTriever.com.
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.
(Not for dissemination in the United States of America)