Labrador Technologies Inc. Announces Amendment of Documentation Involving the Reverse Takeover with Claritas HealthTech Pte. Ltd.
Labrador Technologies Inc. Announces Amendment of
Documentation Involving the Reverse Takeover with
Claritas HealthTech Pte. Ltd.
CALGARY, June 24, 2021 - Labrador Technologies Inc. (“Labrador” or the “Company”) (TSX-
V: LTX) announces that the reverse take-over transaction (the “Reverse Take -over” or “RTO”)
pursuant to the exclusive software license purchase agreement (the “Agreement”) with Claritas
HealthTech Pte. Ltd. (“Claritas”) dated June 28, 2020 (see news release dated January 27, 2021)
has been amended to reflect changes to the exclusive licensed software territory (the “Territory”)
and closing date for commercial reasons.
The parties negotiated and mutually agreed to a 2nd Amendment to Agreement dated May 24,
2021 (the “2nd Amendment”). The 2nd Amendment reflects changes to the Territory from North
America to Canada and an extension to the closing date to July 15, 2021, with all other terms and
conditions remaining the same. The amendments to the RTO are subject to TSXV approval.
In addition, f urther to Company’s news release dated June 29, 2020, the Company received a
conversion notice for the outstanding $150,000 Debenture into 1,500,000 common shares at a
conversion price of $0.10 per share and the issuance of 73,832 common shares for accrued interest
outstanding on June 30, 2021.
About Labrador
Labrador is incorporated under the Business Corporations Act (Alberta), is a reporting issuer in
Alberta and British Columbia and its common shares are listed and posted for trading on TSXV
and was formerly engaged in the business of development and market ing of data retrieval
technology with its registered and head office in Calgary, Alberta.
Additional Information
For further information, please contact:
Kaan Camlioglu, Interim Chief Executive Officer
Labrador Technologies Inc.
T: (403) 818-1091
Cautionary Statements
Investors are cautioned that, except as disclosed in the filing statement to be prepared in
connection with the Proposed Transaction, any information released or received with respect to
the Proposed Transaction 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 of the Proposed Transaction, conditions and
closing of the Proposed Transaction, the capitalization of the resulting issue of the Proposed
Transaction and the quality of results, usability and general future success of iRAD. 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 failur e 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.