Labrador Technologies Inc. Announces Private Placement, Calling of Annual and Special Shareholders Meeting and Director Appointment
LABRADOR TECHNOLOGIES INC. ANNOUNCES PRIVATE PLACEMENT, CALLING OF ANNUAL AND
SPECIAL SHAREHOLDERS MEETING AND DIRECTOR APPOINTMENT
Calgary, Alberta, November 1 5, 2021: Labrador Technologies Inc . (the “Corporation” or “Labrador”)
(TSXV – “LTX”) is pleased to announce as follows:
Private Placement
The Corporation intends to complete an 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 Private Placement will be non - brokered and the Corporation does not expect that commissions will
be payable on the subscriptions nor will any warrants be associated 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 mee ting of the
shareholders of t he Corporation. Any remaining funds, if any, will be utilized to fund the
commencement of the Corporation’s annual audit.
Closing of the Private Placement is expected to occur within 10 days subject to the Corporation having
first received conditional acceptance of the Private Placement from the TSXV.
The securities issued pursuant to the Private Placement will be subject to a four month and one day hold
period.
Annual and Special Meeting
The Corporation announces that it has commenced the steps required to hold an annual and special
meeting of its shareholders which has been scheduled for December 21, 2021.
Director Appointment
The Corporation announces that Mr. Kaan Camlioglu has been appointed to its board of directors
effective immediately. Mr. Camlioglu has been the Interim CEO of the Corporation since January 2019
and has focused on restructuring and recapitalization efforts.
About Labrador
Labrador's common shares are listed on the TSX -V under the symbol " LTX" and have been halted since
the announcement of an RTO transaction on July 16, 2021 which did not close. 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
conditional acceptance of the Private P lacement from the TSX Venture Exchange .
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Forward-looking statements are necessarily base d 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 s uch forward-
looking statements. Accordingly, readers should not place undue reliance on forwar d-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
Email: [email protected]