Labrador Technologies Proposed Share Consolidation
Labrador Technologies Proposed Share Consolidation
CALGARY, AB, November 18, 2019 – Labrador Technologies Inc. ("Labrador" or the
"Corporation") (TSXV: "LTX") announces that at the upcoming Annual General and Special
Shareholders Meeting being held on December 20 th, 2019, the Corporation is proposing a twenty
(20) for one (1) share consolidation (“Consolidation”) or such number of pre-consolidation Common
Shares (the “Consolidation Ratio”) as may be determined by the board of directors of the Company
(the “Board”) in its sole discretion determines appropriate, such approval being conditional on a
prior or concurrent financing of $25,000, and subject further to the approval of all applicable
regulatory authorities.
The Corporation currently has 172,730,351 common shares outstanding. Post Consolidation the
Corporation will have 8,636,518 common shares outstanding. The Consolidation is subject to
shareholder approval and TSX Venture Exchange approval. There will be no name change with the
proposed Consolidation.
If approved and implemented by the Board, the Share Consolidation will occur simultaneously for
all of the Common Shares. The Consolidation Ratio will be the same for all such Common Shares
and will affect all holders of Common Shares uniformly and will not affect any shareholder’s
percentage ownership interest in the Company, except to the extent that the Share Consolidation
would otherwise result in any shareholder owning a fractional Common Share. No fractional
Common Shares will be issued upon the Share Consolidation. In the event a holder of Common
Shares would otherwise be entitled to receive a fractional Common Share in connection with the
Share Consolidation, the number of Common Shares to be received by such shareholder shall be
rounded down to the next whole number if that fractional Common Share is less than one half (1/2)
of a Common Share, and will be rounded up to the next whole number of Common Shares if that
fractional Common Share is equal to or greater than one half (1/2) of a Common Share.
The expected benefits of the Share Consolidation include increased investor interest, improved
trading liquidity and reduced price volatility.
The exercise or conversion price of, and the number of Common Shares issuable under, any
convertible securities of the Company will be proportionately adjusted upon the completion of the
Share Consolidation.
Full details regarding the proposed Share Consolidation are included in the Company’s management
information circular for the Meeting, which is available under the Company’s profile on SEDAR at
www.sedar.com.
About Labrador Technologies
Labrador Technologies Inc. is a Calgary, Alberta based technology company evaluating new opportunities in
the technology sector.
For further information, please contact:
Kaan Camlioglu, Interim Chief Executive Officer
T: (403) 818-1091
Dean Stuart
T: (403) 617-7609
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture) accepts responsibility for the adequacy or accuracy of this release.