Business
Labrador Announces Closing of Shares for Debt Transaction
(via TheNewswire) Calgary, Alberta / TheNewswire / September 29, 2017 - September 29, ...
About this update from Labrador Resources Inc
[{"type":"text","content":"Labrador Announces Closing of Shares for Debt Transaction(via TheNewswire)\n\n \nCalgary, Alberta / TheNewswire / September 29, 2017 - September 29, 2017 -- Labrador Technologies Inc. (TSX Venture: LTX) (\"Labrador\" or the \"Company\") announces that, pursuant to its previously announced shares for debt transaction, it has issued 33,339,647 common shares in the capital of the Company (\"Common Shares\"), at a price of $0.05 cents per share, in satisfaction of $1,666,982.38 of indebtedness owed to certain creditors.\n\n \n \nThe Company determined to satisfy the indebtedness with Common Shares in order to preserve its cash for use on its wellTriever(TM) & mapTriever(TM) software, to work with its strategic partners, and for general working capital. The Common Shares are subject to a four month hold period from the date of issuance.\n\n \n \nThere are currently 145,265,784 Common Shares issued and outstanding.\n\n \n \nLabrador(R) specializes in secure, web-based data retrieval software that maps and visualizes Oil & Gas data on computers, tablets, and smartphones.\n\n \n \nFor further information, please contact:\n\n\n \nH. Ronald Sterne\n\n\n \nPresident & Chief Executive Officer\n\n\n \nLabrador Technologies Inc.\n\n\n \nTelephone: (403) 263-6325\n\n\n \nNeither 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. \n\n\n \nNot for distribution to U.S. news wire services or dissemination in the United States.\n\n\n Copyright (c) 2017 TheNewswire - All rights reserved.","length":2533,"tagName":"div"}]