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Labrador Technologies Inc. Announces Private Placement, Calling of Annual and Special Shareholders Meeting and Director Appointment
CALGARY, AB / ACCESSWIRE / November 15, 2021 / Labrador Technologies Inc. (the " Corporation...
About this update from Labrador Resources Inc
[{"type":"text","content":"Labrador Technologies Inc. Announces Private Placement, Calling of Annual and Special Shareholders Meeting and Director AppointmentCALGARY, AB / ACCESSWIRE / November 15, 2021 / Labrador Technologies Inc. (the \"Corporation\" or \"Labrador\") (TSXV:LTX) is pleased to announce as follows:Private PlacementThe 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 meeting of the shareholders of the 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 MeetingThe 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 AppointmentThe 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 LabradorLabrador'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 STATESCautionary Note Regarding Forward-Looking StatementsThis news release includes certain \"forward-looking statements\" ...