Labrador Technologies News

Labrador Technologies Inc. Announces Closing of Debt Converson and Private Placement Financing

Mon, 17 May 2010 19:05:33 GMT

Labrador Technologies Inc. Announces Closing of Debt Converson and Private Placement Financing

LABRADOR TECHNOLOGIES INC. ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED DEBT CONVERSION AND PRIVATE PLACEMENT FINANCING

May 17, 2010

Labrador Technologies Inc. (“LTI” or “Labrador” - TSX Venture: LTX) is pleased to announce that it has closed its previously announced conversion of outstanding debt into common shares and concurrent private placement.

Debt Conversion

Certain creditors of LTI agreed to convert their combined existing subordinated debt, including accrued interest, of approximately $215,000 into approximately 2,388,889 common shares of Labrador (the "Debt Conversion"). The subordinated debt was converted at $0.09 per common share, which is a 20% premium to the closing price of the Labrador common shares on March 8, 2010 of $0.075.

Private Placement

Concurrently with the Debt Conversion, Labrador completed a non-brokered private placement (the “Private Placement”) of 3,600,000 units of Labrador (“Units”), at a price of $0.10 per Unit, for proceeds of $360,000. 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 was retained in connection with the Private Placement, but LTI paid finder's fees to qualified persons in accordance with applicable securities laws. The securities issued pursuant to the closing of the Debt Conversion and the Private Placement are subject to trading restrictions until September 18, 2010.

Further Debt Conversion

In addition to the foregoing transactions, LTI and a creditor have agreed to convert an existing debt into 150,000 common shares of Labrador (the "Further Debt Conversion"). The Further Debt Conversion is subject to the approval of the TSX Venture Exchange Inc. (the "TSXV") and the receipt of all other necessary regulatory approvals

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 (www.labradortechnologies.com) trades on the TSXV under the symbol “LTX.”

Note Regarding Forward-Looking Statements

This news release contains forward-looking statements relating to the completion of the Further Debt Conversion in order to take advantage of opportunities available in the current environment, Labrador's growth and business plans and business opportunities. These statements are based on certain factors and assumptions regarding the receipt of necessary regulatory approvals, expected growth, results of operations, performance, business prospects and opportunities. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Although Labrador believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and you should not unduly rely on forward looking statements. The forward-looking statements contained in this news release are made as the date of this new release and the company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

For further information, please contact:

Birgit Becker

Office Manager

Labrador Technologies Inc.

Telephone: (403) 263-6325

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

(Not for dissemination in the United States of America)

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

Wed, 17 Mar 2010 13:11:36 GMT

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

Labrador Technologies Inc. Announces Resignation from Board of Directors

Thu, 03 Dec 2009 03:06:26 GMT

Labrador Technologies Inc. Announces Resignation from Board of Directors

December 2, 2009 - Calgary, Alberta

Labrador Technologies Inc. ("Labrador" or "LTI") announces today that Trevor Skinner has resigned from the Board of Directors. The Board of Directors wishes to express its sincere thanks and appreciation to Mr. Skinner for his insightful advice and service to Labrador during his tenure as a Director.

For further information, please contact:

Labrador Technologies Inc. (TSX VENTURE: LTX) Kristen R. Majury
(403) 261-7381
Website: www.labradortechnologies.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Labrador Technologies Inc. Announces Strategic Distribution Agreement with IHS Inc.

Tue, 10 Nov 2009 17:07:16 GMT

Labrador Technologies Inc. Announces Strategic Distribution Agreement with IHS Inc.

Contact:
IHS Inc. Press Desk
+1 303 305 8021
press@ihs.com

Labrador Technologies Inc.
+1 403 261 7381
kmajury@labradortechnologies.com
Kristen Majury, President

Labrador Technologies Inc. Announces Strategic Distribution Agreement with IHS Inc.

CALGARY, Alberta. (November 10, 2009) -- IHS Inc., a leading global source of critical information and insight, and Labrador Technologies Inc. (LTI) announced today a global strategic agreement to distribute Labrador’s eTriever web application bundled with IHS Canadian Oil and Gas Critical Information. IHS has the exclusive ability to offer eTriever combined with any Oil and Gas data on a worldwide basis.

The combination of Labrador’s innovative web-based data browsing technology and IHS market-leading Oil and Gas data introduces a ground-breaking way for customers to work. eTriever will provide customers with easy, quick, mobile access to IHS information from anywhere in the world.

“This strategic relationship is very complementary to the IHS market-leading position in desktop analysis and data distribution in the Canadian market”, said Rich Herrmann, vice president of IHS global information access. “eTriever extends our customers’ options for searching and visualizing our data in a far more flexible manner, including web browser and mobile application deployment. We are excited to offer this compelling new product to the industry.”

“From the outset”, said Ron Sterne, chief executive officer of LTI, “we have built eTriever to access a wide variety of information, across multiple industries. We believe that the high quality and completeness of IHS oil and gas information is the perfect fit for eTriever distribution, offering new and existing customers the best combination available in the market today of critical information and agile data browsing.”

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About Labrador Technologies (www.labradortechnologies.com)
Labrador Technologies Inc. is in its 29th year of providing optimized connections between the data stores that companies invest in and their application software. Labrador eTriever™ (www.etriever.com) is a secure, web-based, generic data browser, which thrives in complex database environments, including the Oil and Gas Industry. eTriever™ employs proven web-mapping services to view satellite imagery, roads and culture data, and goes beyond conventional oil and gas web access to afford wireless data retrieval for popular hand-held devices. Labrador (www.labradortechnologies.com) trades on the TSX Venture Exchange under the symbol “LTX.” Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About IHS (www.ihs.com)
IHS (NYSE: IHS) is a leading global source of critical information and insight, dedicated to providing the most complete and trusted information and expertise. IHS product and service solutions span four areas of information that encompass the most important concerns facing global business today: Energy, Product Lifecycle, Security, and Environment, all supported by Macroeconomics. By focusing on customers first, IHS enables innovative and successful decision-making for customers ranging from governments and multinational companies to smaller companies and technical professionals in more than 180 countries. IHS is celebrating its 50th anniversary in 2009 and employs approximately 4,000 people in 20 countries.

Labrador Technologies Announces Appointment of New President

Wed, 07 Oct 2009 14:00:30 GMT

Labrador Technologies Announces Appointment of New President

October 6th, 2009 – Calgary, Alberta – Labrador Technologies Inc. (“LTI”) today announced the appointment of Kristen Majury as President.

Ms. Majury is charged with moving eTriever and Labrador’s software product suite to its next, logical phase of aggressive expansion through Distribution Channels. Beginning with LTI’s local collaboration with its data partners in the Energy, Healthcare and Utilities Sectors, Ms. Majury’s principle mandate is to expand LTI’s reach into vertical markets globally.

“LTI's eTriever™ and Labrador® suite is the result of years of collective expertise and careful positioning,” says Majury, “and is poised to provide LTI's Data Partners with new data access options that aren't tied to the desktop. This agile, intuitive web application opens up data access choices across the organization, and exploits the dollars already invested in information.”

“Most importantly, Kris Majury,” says Ron Sterne, Chief Executive Officer of LTI, “is a proven entrepreneur who has successfully worked with both Private and Public companies. Her versatile skill-set, pragmatic approach, and team-oriented style are ideally suited to LTI and its substantial prospects.”

Prior to joining Labrador, Ms. Majury was President and Founder of Ensight Information Services Ltd. (EGIS) of Calgary, which she sold to a Global data supplier. Ensight was a leading provider of bundled software and data services to Western Canada's Oil & Gas Sector and core member of the Geomatics community. Ms. Majury’s business experience spans industries from energy data and software to advanced imaging products. Previous positions also include Vice President and General Manager at Immersive Media Corp of Portland, Oregon.

To learn more about eTriever™, please visit www.eTriever.com

Labrador (www.labradortechnologies.com) trades on the TSX Venture Exchange under the symbol "LTX".

Labrador Technologies Inc. Announces Private Placement Financing

Tue, 09 Jun 2009 17:19:38 GMT

Labrador Technologies Inc. Announces Private Placement Financing

June 9, 2009 -- Labrador Technologies Inc. ("LTI" or "Labrador" - TSX Venture Exchange: LTX) is pleased to announce a non-brokered private placement (the "Private Placement") for up to 40,000,000 units of Labrador ("Units") at a price of $0.05 per Unit, for gross proceeds of up to $2,000,000. Each Unit will consist of one (1) common share ("Common Share") of LTI and one half (1/2) common share purchase warrant ("Warrant") of LTI, with each Warrant exercisable at a price of $0.10 per Common Share for a period of two (2) years following the closing date. Pursuant to applicable securities legislation, the Common Shares and Warrants issued pursuant to the Private Placement are subject to a hold period of four months and one day from the closing date.

In connection with the Private Placement, Labrador has agreed to pay fees to qualified persons pursuant to available securities laws exemptions of up to 7.0% of the gross proceeds of the Private Placement through the issuance of up to 1,400,000 Common Shares at a deemed price of $0.10 per Common Share.

Labrador requires the proceeds from this Private Placement to eliminate the current working capital deficiency, pay outstanding receivables and the remainder of the proceeds will be used for working capital.

The Private Placement is subject to the approval of the TSX Venture Exchange Inc. (the "TSXV") and the receipt of all other necessary regulatory approvals. The completion of the Private Placement is expected to result in Iceberg Investments Limited Partnership or its designated nominee (the "L.P."), as a subscriber, holding more than 20% of the issued and outstanding shares of Labrador resulting in the L.P. becoming a "control person" (as that term is defined in the policies of the TSXV) of Labrador. As such, the policies of the TSXV requires that the Private Placement must be approved by the disinterested shareholders of Labrador. Labrador intends to obtain written consent of the disinterested shareholders of Labrador holding 50% plus one of the issued and outstanding Common Shares in lieu of calling and holding a shareholder's meeting.

The completion of the Private Placement is also subject to additional conditions precedent, including satisfactory completion by the L.P. of a due diligence review of Labrador, entering into of a formal share purchase agreement between L.P. and Labrador and three of the five current board members of Labrador resigning and being replaced by three nominees of L.P.

Labrador eTriever (www.etriever.com) is a secure, web-based very cost effective, generic data retriever, which thrives in complex database environments, such as the oil and gas industry. As a web-based offering, eTrieverTM 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, eTrieverTM goes well beyond conventional oil and gas web access to provide wireless data retrieval for proven handheld devices, such as BlackberriesTM, Plam® TreosTM, Microsoft Windows MobileTM Smart Phones, and when available Apple's iPhone.

Labrador (www.labradortechnologies.com) trades on the TSX Venture Exchange under the symbol "LTX".

Labrador Re-establishes Healthcare Initiative

Tue, 02 Jun 2009 13:06:11 GMT

Labrador Re-establishes Healthcare Initiative

June 2, 2009 – Calgary, Alberta – Labrador Technologies Inc. (“Labrador” or “LTI”) and Momentum Dietary Solutions (“Momentum Dietary Solutions”) have reached a partner agreement to employ the Labrador® Tools in Momentum Dietary’s Suite of Applications, which will enable powerful querying capabilities across the SQL databases comprising Momentum’s Dietary Management Application.

Said Garth Smith, President of Momentum Dietary Solutions “We could continue down the path of building queries and management reports one-at-a-time, or we could work with LTI to deploy a proven and flexible solution into our extensive dietary management applications – we chose the latter. I have a history with the Labrador Tools, and am well aware of the power of this engine. I am very excited about bringing this solution with LTI to our market in the very near future.”

“Although our primary focus will continue to be eTriever’s substantial Oil & Gas opportunities, we have always viewed the Healthcare marketplace as a key area of growth and opportunity for LTI. The sheer number of transactions and databases in all areas of Healthcare are well-suited for our Labrador® Tools’ querying capabilities; and entering into an agreement with a respected company in the Long-Term Care arena is the best way for us to restart this initiative. Very importantly, selling into an existing customer base creates near-term revenue opportunities for both partners,” said Ron Sterne, LTI’s CEO.

Momentum Dietary Solutions is an established North American Leader in the provision of Dietary Management software and services to the long-term care industry. With over 90 clients, and more than 700 sites deployed across the US and Canada, Momentum Dietary is a market leader poised for expanded growth. Please visit www.momentumdietary.com.

Labrador Moves to the Utilities Sector

Mon, 01 Jun 2009 13:00:00 GMT

Labrador Moves to the Utilities Sector

June 1, 2009 – Calgary, Alberta – Labrador Technologies Inc. (“Labrador” or “LTI”) and Rocky View Utility Corp (“Rocky View Utility”) have negotiated an agreement in principle to create a Joint Venture to deploy and embed Labrador® eTriever’s WebMap™, Query, and Charting capabilities in Rocky View Utility’s real-time, MuniNet Data Acquisition and Reporting solution. This system is aimed at facilitating the Water, Sewage, and Stormwater regulatory reporting requirements for the Utilities Sector. Remote Monitoring and Operations Reporting is a key component of this solution.

Said Peter Loats, President of Rocky View Utility Corp and a shareholder of LTI, “with the burden of regulatory requirements increasing every year, we believe there is a large market for a very affordable web-based system – from our point of view, it’s perfect timing for us to be working with LTI.”

“Apart from continuing to focus on eTriever’s substantial Oil & Gas opportunities, we view the Utilities Sector as a natural step-out to clearly demonstrate our ability to work with other data types, and we are quite pleased to have found an experienced partner in Rocky View Utility Corp. LTI’s ability to use eTriever’s Software as a Service (SaaS) architecture to readily deploy and license software components across different industries provides LTI with far more flexibility to create multiple revenue streams than ever before,” said Ron Sterne, LTI’s CEO.

Labrador Technologies Announces Release of eTriever Version 3.0

Tue, 07 Apr 2009 15:33:57 GMT

Labrador Technologies Announces Release of eTriever Version 3.0

April 7th 2009 - Labrador Technologies Inc. released a major version of eTriever, Version 3.0, on Wednesday April 08, 2009.

This release is a significant milestone in eTriever's product development. eTriever 3.0 features data tagging, an enhanced interface, and, for the first time, direct integration with PPDM 3.7 Land Data.

"Tagging"

Users can now group wells (Well Groups) by tagging them with keywords, based on any criteria. Future development of Tagging will allow annotation, and Project Groups of wells, land, pipelines, and facilities data.

"Enhanced User Interface"

This evolution of eTriever presents a much more consistent design. User-requested enhancements, such as Land Data, have been seamlessly integrated, allowing even faster and deeper data browsing capabilities.

"eTriever Land"

eTriever's Land Data tab offers all of the core features of other data tabs, including Quick Pick lists and shortcuts. Fast, Friendly and Flexible by design, eTriever Land has the same intuitive usability as the rest of the eTriever product. This first public release is designed to encourage input from our customers and other interested parties.

Labrador Technologies Inc. Announces Private Placement Financing

Tue, 17 Feb 2009 00:00:00 GMT

Labrador Technologies Inc. Announces Private Placement Financing

Labrador Technologies Inc. (“LTI” or “Labrador” - TSX Venture: LTX) is pleased to announce a non-brokered private placement (the “Private Placement”) for between 2,000,000 and 20,000,000 units of Labrador (“Units”), at a price of $0.10 per Unit, for proceeds of between $200,000 and $2,000,000, of which $200,000 has been secured. While no agent has formally been retained in connection with the Private Placement, LTI may pay a ‘finders fee’ to qualified persons pursuant to available securities laws exemptions.

The minimum investment requirement, per qualified individual, is $10,000 (100,000 Units), and the closing date (the “Closing Date”) will be on or before April 3, 2009. 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 12 months following the Closing Date.

Labrador requires sufficient proceeds from this Private Placement to provide enough capital to fund its Strategic Business Plan, including the further development and Sales/Marketing of its eTriever™ product, particularly in the context of Calgary’s Oil & Gas Data Centres.

Labrador eTriever (www.etriever.com) is a secure, web-based, very cost effective, generic data retriever, which thrives in complex database environments, such as the oil and gas industry. 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.

The Private Placement is subject to regulatory approval of the TSX Venture Exchange Inc. Labrador (www.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) 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)