Labrador Resources Ltd. Announces Proposed Private Placement and Debt Extending Agreements
Labrador Resources Ltd. Announces Proposed Private Placement
and Debt Extending Agreements
CALGARY, ALBERTA – February 24, 2026 – Labrador Resources Ltd . (“ Labrador” or the
“Corporation”) (TSXV: LTX) announces that it intends to complete a private placement and that
it has entered into agreements to extend the repayment of certain of its existing debt.
Proposed Private Placement
Labrador intends to complete a private placement of up to 6,000,000 units (“Units”) for gross
proceeds of up to $300,000 (the “Offering”). Each Unit will be priced at $0.05 and will consist of
one common share of the Corporation (“Common Share ”) and one common share purchase
warrant (“ Warrant”). Each Warrant will entitle the holder to acquire an additional Common
Share at a price of $0.06 per Common Share for 1 year following closing of the Offering and at a
price of $0.10 per Common Share for an additional 1 year thereafter.
The Corporation may pay commissions of six percent (6%) to qualified finders or agents and may
issue broker warrants (“Broker Warrants”) for up to six percent (6%) of the total number of Units
issued pursuant to the Offering. Each Broker Warrant will entitle the holder to purchase a
Common Share at a price of $0. 06 for a period of two (2) years from the date of closing of the
Offering.
There is no minimum Offering.
Proceeds from the Offering will be used for general working capital purposes a nd for expenses
related to the Offering.
The Corporation will rely on the Exemption for Sales to Purchasers Advised by Investment
Dealers. In that regard, the Corporation confirms that there is no material fact or material change
related to the Corporation which has not been generally disclosed.
In addition to offering the Units pursuant the Exemption for Sales to Purchasers Advised by
Investment Dealers, the Units are also being offered pursuant to other available prospectus
exemptions, including sales to accredited investors. Unless the Corporat ion determines to
increase the gross proceeds of the Offering , if subscriptions received for the Offering based on
all available exemptions exceed the maximum Offering amount of $ 300,000, Units will be
allocated pro rata among all subscribers qualifying under all available exemptions.
The Common Shares, Warrants and Broker Warrants that may be issued pursuant to the Offering
will be subject to a four month and one day hold period.
Completion of the Offering remains subject to the approval of the TSX Venture Exchange.
Debt Extending Agreements
Labrador also announces that it has successfully negotiated extending agreements with the
holders of a Debenture, a Note Payable and a Term Loan (the “Existing Indebtedness”).
The terms of the Existing Indebtedness will remain unchanged except as follows:
1) The maturity date has been extended to October 31, 2027; and
2) All amounts owing under the Existing Indebtedness will be convertible, at the holder’s
option, into Common Shares at a price of $0.05 per Common Share for the first 1 year
following closing of the Offering, and at a price of $0.10 for the following 2 years.
About Labrador
Labrador's Common Shares are listed on the TSX -V under the symbol " LTX". More information
on Labrador may be viewed on www.sedarplus.ca.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward -looking statements" under applicable Canadian
securities legislation. Forward-looking statements include, but are not limited to, the
Corporation's ability to obtain necessary approvals from the TSX Venture Exchange with respect
to the Offering and the use of proceeds of the Offering . 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; delay or failure to receive board,
shareholder or regulatory approvals; the price of metals including gold, silver copper, cobalt and
uranium; and the results of exploration programs. 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 plac e undue reliance
on forward-looking statements. Labrador disclaims any intention or obligation to update or revise
any forward -looking statements, whether as a res ult of new information, future events or
otherwise, except as required by law.
Neither the 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.
For further information, please contact:
Jeff Graw, CEO
Email: [email protected]
Or:
John Aihoshi
Email: [email protected]