Labrador Announces Shares for Debt Transaction

LABRADOR TECHNOLOGIES INC.

Not for distribution to U.S. news wire services or dissemination in the United States.

August 24, 2017

Labrador Announces Shares for Debt Transaction

CALGARY, Alberta, August 24, 2017 -- Labrador Technologies Inc. (TSX Venture: LTX)

("Labrador" or the "Company") announces that it has entered into shares for debt agreements with seven

creditors of the Company pursuant to which it will issue 33,339,647 common shares, at a price of $ 0.05

cents per share, in satisfaction of $1,666,982.38 of indebtedness currently owed to the creditors (the

"Debt Settlement"). The creditors include H. Ronald Sterne, the President, Chief Executive Officer and a

Director of the Company, as well as George A. Wilson and Jeffrey Howe who are each Directors of the

Company.

The Company determined to satisfy the indebtedness with common shares in order to preserve its cash for

use on its wellTriever™ & mapTriever™ software, to work with its strategic partners, and for general

working capital. The shares will be issued upon acceptance by the TSX Venture Exchange and approval

by the directors of the Company. The common shares issued in satisfaction of the indebtedness will be

subject to a four month hold period from the date of issuance.

Labrador® specializes i n secure, web -based data retrieval software that maps and visualizes Oil & Gas

data on computers, tablets, and smartphones.

For further information, please contact:

H. Ronald Sterne

President & Chief Executive Officer

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.

Certain information regarding Labr ador set forth in this news release, including the cl osing of the private

placement and the use of proceeds of the private placement may constitute forward -looking statements under

applicable securities laws and necessarily involve substantial known and un known risks and uncertainties. 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.