Announces Share Consolidation and Additional Updates
LABRADOR TECHNOLOGIES INC.
ANNOUNCES SHARE CONSOLIDATION AND ADDITIONAL
UPDATES
Not for distribution to U.S. newswire services or for dissemination in the United States of America. Any
failure to comply with this restriction may constitute a violation of U. S. securities law.
CALGARY, August 12, 2020 – Labrador Technologies Inc. (TSXV: LTX) (“Labrador” or the “Company”)
announces that, effective August 7, 2020 (the “Effective Date”), the Company effected a consolidation of
the Company's issued and outstanding common shares (“Common Shares”) on the basis of twenty (20)
pre-consolidation Common Shares for one (1) post-consolidation Common Share (the “Consolidation”).
The Consolidation was approved at the annual and special meeting of shareholders of the Company held
on December 20, 2019 and was subsequently approved by the board of directors of the Company. The
Company has also received TSX Venture Exchange (“TSXV”) approval for the Consolidation. The board of
directors of the Company is proceeding with the Consolidation as part of the proposed reverse takeover
transaction(the “RTO”) as announced on June 29, 2020. The Company had 177,966,368 Common Shares
issued and outstanding and following the Consolidation, the Company has approximately 8,898,318
Common Shares issued and outstanding.
The Company's transfer agent, Computershare Trust Company of Canada, has sent a letter of transmittal
by mail to registered shareholders advising that the Consolidation has taken effect contains instructions
on how registered shareholders can exchange their share certificates or DRS statements evidencing their
pre-Consolidation Common Shares for new share certificates or new DRS statements representing the
number of post-Consolidation Common Shares to which they are entitled. No action is required by non-
registered shareholders (shareholders who hold their shares through an intermediary) to effect the
Consolidation.
No fractional Common Shares were issued upon the Consolidation. In the event a holder of Common
Shares would otherwise be entitled to receive a fractional Common Share in connection with the
Consolidation, the number of post-Consolidation Common Shares to be received by such shareholder
will be rounded down to the next whole common share.
Trading Halt
Trading in the Labrador Common Shares have been halted and may remain halted pending the review of
the RTO transaction by the TSXV and other certain conditions are satisfied. There can be no assurance
that trading in the Labrador Common Shares will resume prior to the completion of the RTO, if at all. The
post-Consolidation Common Shares are expected to begin trading upon completion of the RTO.
For further information, please contact:
Kaan Camlioglu, Interim Chief Executive Officer T: (403) 818-1091 or E: [email protected].
Cautionary Statements
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection
with the RTO, any information released or received with respect to the RTO may not be accurate or
complete and should not be relied upon. Trading in the securities of Labrador should be considered
highly speculative. This press release does not constitute an offer of the securities of the Company for
sale in the United States. The securities of the Company have not been registered under the United
States Securities Act of 1933, (the “1933 Act”) as amended, and may not be offered or sold within the
United States absent registration or an exemption from registration under the 1933 Act. This press
release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Forward-Looking Statements
This news release contains “forward-looking information” and “forward-looking statements”
(collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities
legislation. All statements, other than statements of historical fact, are forward-looking statements and
are based on expectations, estimates and projections as at the date of this news release. Any statement
that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always using phrases such as “expects”, or
“does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”,
“forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that
certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be
achieved) are not statements of historical fact and may be forward-looking statements. In this news
release, forward-looking statements relate, among other things, to: the terms, conditions and
completion of the RTO, completion of the Consolidation, and the capitalization and number of shares
outstanding of the Company. Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are subject to known and unknown risks,
uncertainties, and other factors which may cause the actual results and future events to differ materially
from those expressed or implied by such forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and social uncertainties; and the delay or
failure to receive board, shareholder, court or regulatory approvals, as required. There can be no
assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue
reliance on the forward-looking statements and information contained in this news release. Except as
required by law, Labrador assumes no obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except as required by law. Neither the TSXV
nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.