Private Placement Increased to $250,000
July 29, 2005 - Calgary, Alberta,
Labrador Technologies Inc. (“LTI” or “Labrador” - TSX Venture: LTX) is pleased to announce that its previously announced non-brokered, private placement financing (the “Private Placement”) of up to 2,000,000 units of Labrador (“Units”), at a price of $0.10 per Unit, for proceeds of up to $200,000, as described in a press released dated July 22, 2005, has potentially been oversubscribed. As such, LTI has increased the maximum offering to $250,000 (2,500,000 Units). In addition, the previously announced Closing Date of October 31, 2005 has been moved ahead to August 5, 2005, or such later date as Labrador may decide. All other terms of the Private Placement remain the same.
About Labrador
Labrador Technologies is in its 25th year of building Labrador connections between the data companies invest in, and all of the destinations that they choose for it. LTI develops data retrieval, reporting and analysis software, specializing in Data-Flow Management" (DFM") solutions, primarily 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 deliver data to their target audiences by "plugging" users in and minimizing the need for costly, ongoing maintenance intervention.
Labrador (www.labradortechnologies.com) trades on the TSX Venture under the symbol "LTX."
This press release may include forward-looking statements including opinions, assumptions, estimates and expectations of future developments, cash flow and earnings. When used in this document, the words "believe," "forecasted", "estimate," "expect," "intend," "may," "project," "plan", "will", "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although LTI believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to the ability to implement corporate strategies, the state of domestic capital markets, the ability to obtain financing, operating risks, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by LTI with securities regulatory authorities.
For further information, please contact:
Ronald Sterne
President and Chief Executive Officer
Telephone: (403) 263-6325
The TSX Venture Exchange Inc. does not accept responsibility for the adequacy and accuracy of this release.
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for dissemination in the United States of America)