Debt Forgiveness Improves Labrador Balance Sheet
Debt Forgiveness Improves Labrador Balance Sheet
Calgary, Alberta February 1, 2018 – Labrador Technologies Inc. ("Labrador" or the "Corporation")
(TSXV: “LTX”) announces that $492,569 CDN in interest payable has been forgiven by certain
debt holders, including H. Ronald Sterne, President & Chief Executive Officer, Jeff Howe, Interim
Chief Financial Officer and George Wilson. All 3 are directors of the Corporation. In addition,
the settlement agreements originally announced on January 29, 2018 have been reduced to
$425,728 CDN, which will be settled in exchange for the issuance of 8,514,568 common shares
(“Shares”) of the Corporation at a price of $0.05 per Share. The forgiveness of debt and settlement
agreements amount to an aggregate debt reduction of $918,298 CDN.
Labrador’s technology and expertise provides a proven platform to expand into other rapidly
emerging sectors. This debt reduction and the financing for $672,500 CDN further strengthens the
Corporation’s balance sheet for acquisitions, partnerships and/or joint ventures.
The Shares will be issued upon acceptance by the TSX Venture Exchange and approval by the
Directors of the Corporation. The Shares issued in satisfaction of the indebtedness will be subject
to a four month hold period from the date of issuance.
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.
For further information, please contact:
Ronald Sterne
T: (403) 263 6325
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.
Not for release in the United States or to U.S. Newswire Services