Labrador Technologies Private Placement and Debt Reduction Update

About this update from Labrador Resources Inc

[{"type":"text","content":"Labrador Technologies Private Placement and Debt Reduction Update(via TheNewswire)\n \n \nCalgary, Alberta / TheNewswire / May 28, 2019 - Labrador Technologies Inc. (\"Labrador\" or the \"Corporation\") (TSXV: \"LTX\") announces that the Corporation has closed the private placement as previously announced on February 21, 2019. \n\n \n \nThe Corporation issued 2.5 million units, each unit consisting of one common share and one-half of one common share purchase warrant, as announced on April 12, 2019. Each whole warrant entitles the holder thereof to purchase one share at an exercise price of five cents for a period of two years from the date of closing. \n\n \n \nIn addition, the Corporation is pleased to announce that it has entered into agreements for the forgiveness of certain trade payables due to third parties of $184,611 and conversion of $85,821 into 1,716,429 shares of the Corporation. The issuance of the shares is subject to all necessary approvals, including the approval of the TSX Venture Exchange. The shares issued in satisfaction of the indebtedness will be subject to a four-month hold period from the date of their issuance.\n\n \n \nThe Board continues to pursue initiatives to restructure the Corporation's remaining debt and is actively engaged in monetizing current assets and evaluating future investment opportunities. \n\n \n \nAbout Labrador Technologies \n\n \n \nLabrador Technologies Inc. is a Calgary, Alberta based technology company evaluating new opportunities in the technology, oil & gas and cannabis sectors. \n\n \n \nFor further information, please contact: \n\n \n \nKaan Camlioglu, Interim Chief Executive Officer \n\n\n \nT: (403) 818-1091 \n\n\n \nE: [email protected] \n\n \n \nDean Stuart \n\n\n \nT: (403) 617-7609 \n\n\n \nE: [email protected]\n\n \n \nNeither 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. \n\n \n Copyright (c) 2019 TheNewswire - All rights reserved.","length":3447,"tagName":"div"}]

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