Labrador Technologies Provides Update ON COVID-19 and Announces Reliance upon Interim Financial Statements and Md&a Filing Exemption
NEWS RELEASE
LABRADOR TECHNOLOGIES PROVIDES UPDATE ON COVID-19 AND ANNOUNCES
RELIANCE UPON INTERIM FINANCIAL STATEMENTS AND MD&A FILING EXEMPTION
CALGARY, May 1 , 2020 – Labrador Technologies Inc. (TSXV: LTX) ("Labrador" or the "Company”)
wishes to provide an updated to the C ompany’s news release dated March 31, 2020 and clarifying news
release dated April 3, 2020.
The company wishes to provide an update on COVID-19 matters and the status of the filing of interim
financial statements, accompanying management discussion and analysis and related CEO and CFO
certifications.
The COVID-19 pandemic is creating unprecedented challenges to the economies, logistics and financial
markets. The Company's Board of Directors and Management are taking all necessary precautions to ensure
the health of its employees and best manage the short-term challenges to the business.
On March 18, 2020, the Canadian Securities Administrators ("CSA") issued a notice stating that securities
regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings
required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. As such the Alberta
Securities Commission ("ASC") has enacted Blanket Order 51-517 - Temporary Exemption from Certain
Corporate Finance Requirements ("ASC 51-517"). The Company will be relying on this extension period
due to delays experienced as result of the COVID-19 pandemic.
The Company will be relying on the temporary exemption pursuant to ACS 51-517 in respect to the
following provisions:
• the requirement to file interim financial statements for the three month period ended January 31,
2020 (the "Interim Financial Statements") within 60 days of the Company's first quarter as
required by section 4.4(b) of NI 51-102
• the requirement to file management discussion and analysis (the "Interim MD&A") for the period
covered by the Interim Financial Statements within 60 days of the Company's first quarter as
required by section 5.1(2) of NI 51-102;
• the requirement to file certifications of the Annual Financial Statements (the "Certificates" and
together with the Annual Financial Statements, the "Annual Filings") pursuant to section 4.1 of
National Instrument 52-109; and
• the requirement to file certifications of the Interim Financial Statements (the "Certificates" and
together with the Interim Financial Statements, the "Interim Filings") pursuant to section 5.1 of
National Instrument 52-109.
The Company confirms that since the filing of its audited financial statements for the period ended October
31, 2019, there have been no material business developments other than those disclosed through Company
press releases.
The Company is continuing to work diligently and expeditiously with its accounting staff to file the Interim
Filings together on or before May 14, 2020. In the interim, management and other insiders of the Company
are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207
- Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.
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.