LTX.V.V · 2021-11-29 12:00:00

Labrador Technologies Inc. Announces Closing of Private Placement

Financings

LABRADOR TECHNOLOGIES INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Calgary, Alberta, November 29 , 2021: Labrador Technologies Inc. (the “Corporation” or “Labrador”)

(TSXV – “LTX”) is pleased to announce that on November 26, 2021, the Corporation completed its

previously announced arm’s length private placement of common shares for gross proceeds of $30,000

from its treasury at a price of $0.01 per common share (the “Private Placement”). The Corporation did

not pay any commissions on th e subscriptions nor were any warrants issued in connection with the

Private Placement. Proceeds from the Private Placement will be used to pay outstanding payables to

bring the Corporation current with its transfer agent and the TSX Venture Exchange (“TSXV ”). The

remainder will be utilized to fund the costs associated with the calling and holding of an annual and

special meeting of the shareh olders of the Corporation. R emaining funds, if any, will be utilized to fund

the commencement of the Corporation’s an nual audit.

The Private Placement remains subject to the final acceptance of the TSXV and the securities issued

pursuant to the Private Placement are subject to a four month and one day hold period.

About Labrador

Labrador's common shares are listed on the TSX-V under the symbol "LTX" and have been halted since

the announcement of a proposed RTO transaction on June 28, 202 0 which was mutually terminated on

July 16, 2021. For further information on Labrador please visit Sedar.com.

NOT FOR DISTRIBUTION TO U.S . NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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 use of proceeds and obtaining

final acceptance of the Private Placement from the TSX Venture Exchange.

Forward-looking statements are necessarily based upon a number of 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. Accordingly, readers should no t place undue reliance on forward -looking

statements. Labrador disclaims any intention or obligation to update or revise any forward -looking

statements, whether as a result 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:

Kaan Camlioglu

Interim CEO, Labrador Technologies Inc.

Phone: (403) 818 1091