Labrador Announces Appointment of Interim CEO
Calgary, Alberta - January 14, 2019 – Labrador Technologies Inc. ("Labrador" or the "Company") (TSXV: "LTX") announces, following the passing of H. Ronald Sterne, the Company has appointed Kaan Camlioglu, a member of the Company's advisory council, as interim Chief Executive Officer.
Mr. Camlioglu brings a diverse leadership and professional profile to the team. His career has spanned over 25 years. Over that time he has gained a deep understanding of investment valuation, risk, business planning and project management. Mr. Camlioglu began his career at the TSX Venture Exchange (& its predecessors) and moved on to a variety of roles over the years including: investment banking, CFO and board positions, enterprise risk management, corporate planning, investment acquisition and consulting.
Mr. Camlioglu has been providing overall stewardship on project planning, modelling, and operational management regarding the Cannaverse App commercialization. Mr. Camlioglu worked closely with H. Ronald Sterne in formalizing the revenue generation strategies, phased growth and development of the app to meet corporate goals and targets.
The Company also announced today that its board of directors has approved the exploration of strategic alternatives for the Company, to occur over the course of the next several weeks, focused on enhancing shareholder value. There can be no assurance that this exploration process will result in any specific action. Accordingly, the Company does not intend to make further disclosure unless and until its Board approves a specific action or otherwise concludes the review of strategic alternatives.
About Labrador Technologies
Labrador Technologies is a Calgary, Alberta based software development firm providing map-based innovative solutions for industries seeking a visual interpretation of financial reporting. Labrador has expanded its vision beyond Oil & Gas data to focus on cannabis data collection and specialized reporting.
Forward-Looking Statements Certain information in this press release may constitute forward looking information within the meaning of securities laws. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "process," "expects," "explore," and other similar words. These statements are based on the current estimates and assumptions of our management as of the date of this press release and are subject to risks, uncertainties, changes in circumstances and other factors that may cause actual results to differ materially from the information expressed or implied by forward-looking statements made in this press release. Examples of such statements include statements regarding potential strategic alternatives. Given these uncertainties, you should not place undue reliance on the forward-looking statements in this press release. The forward-looking statements contained in this document are made as at the date of this news release and Labrador 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.
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Kaan Camlioglu, Interim Chief Executive Officer T: (403) 818-1091 E: [email protected] Or
Dean Stuart T: (403) 617-7609 E: [email protected]