LABRADOR TECHNOLOGIES INC.
RECEIVES WARRANT EXERCISES TO PURCHASE 2,000,000 SHARES
March 6, 2007 - Labrador Technologies Inc. (“LTI” or “Labrador” - TSX Venture: LTX) is pleased to announce that 100% of the warrants granted pursuant to its March 2, 2006 private placement have been exercised for proceeds of $400,000. The Company received warrant exercises to purchase 2,000,000 common shares at $0.20 per share.
Labrador intends to use the total proceeds of $400,000 from the exercise of the warrants as general working capital, and for further development and marketing of its eTriever™ product, particularly in the context of Calgary’s Oil & Gas Data Centres.
Labrador eTriever™ is a secure, web-based, generic data retriever, which thrives in complex database environments, such as the oil and gas industry. Importantly, eTriever™ will offer 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 “minimal-click” search, reporting, and exporting capabilities, as well as employing both Microsoft®’s Virtual Earth and Google® Map to view satellite imagery mapping. Further, eTriever™ goes well beyond conventional oil and gas web access to provide wireless data retrieval for proven hand-held devices, such as BlackBerries™, Palm® Treos™, Microsoft® Windows Mobile™ Smart Phones, and when available, Apples’ iPhone.
About Labrador
Labrador Technologies Inc. is in its 27th year of creating Labrador “connections” between the data stores that companies invest in, and all of the places to send this 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:
Christine Madill,
General Manager,
Labrador Technologies Inc.
Telephone: (403) 263-6325
The TSX Venture Exchange Inc. does not accept responsibility for the adequacy and accuracy of this release.