Clarifing News Release Labrador Technologies to Postpone Reporting First Quarter 2020 Results Due to Delays Caused by COVID-19

CALGARY, April 3, 2020 – Labrador Technologies Inc. (TSXV: LTX) ("Labrador" or the "Company”) wishes to provide the following clarification to the Company’s news release dated March 31, 2020.

The Company announced the postponement of filing its interim financial statements ("Financial Statements") and its interim management's discussion & analysis ("MD&A") for the interim period ended January 31, 2020 due to logistics and delays caused by the COVID-19. The Company will invoke the Alberta Securities Commission (the "Commission") blanket order 51-517 (the "Blanket Order") for temporary exemption from certain corporate finance requirements. Recent global events pertaining to COVID-19 has impacted the Company, its officers, directors and consultant’s ability to rely on timely information and to meet to approve its financial statements and MD&A.

According to the ASC Blanket Order 51-517 (“Blanket Order”), during the period from March 23, 2020 to June 1, 2020 a person or company required to make certain filings as described in the Blanket Order has an additional 45 days from the deadline otherwise applicable under Alberta securities laws to make the filing according to certain disclosure obligations by the Company.

Pursuant to the Blanket Order, the Company is relying on the relief therein for its Financial Statements required by section 4.2 of National Instrument 51-102 and its MD&A required by subsection 5.1(2) of National Instrument 51-102.

The Company estimates that the required disclosure required by Alberta securities laws will be filed no later than May 15, 2020.

Until the Company has filed and announced the required Financial Statements and MD&A, all management and other insiders are subject to the Company’s share trading and black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

There have been no material business developments since the date of the last audited financial statements were filed on February 28, 2019.

About Labrador Technologies

Labrador Technologies Inc. is a Calgary, Alberta based technology company evaluating new opportunities in the technology sector.

For further information, please contact:

Kaan Camlioglu, Interim Chief Executive Officer T: (403) 818-1091 E: [email protected]

Dean Stuart T: (403) 617-7609 E: [email protected]

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.