LTX Labrador Resources Inc

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Labrador Technologies Inc. ("LTI" or "Labrador") (TSX VENTURE:LTX) is pleased to
announce closing of the first tranche of its previously announced private
placement (the "Offering") for up to 15,000,000 common shares of Labrador
("Common Shares"), at a price of $0.05 per Common Share, for proceeds of up to
$750,000. 


The first tranche consisted of 3,000,000 Common Shares for gross proceeds of
$150,000. The proceeds from the closing of the first tranche will be used for
expanding the current successful eTriever market launch into all sectors of the
Oil & Gas industry, for increasing and broadening eTriever R&D, and for general
working capital. This critical eTriever deployment phase will be bolstered
significantly by LTI's logical growth and extension with its partners into
accessing data from proprietary databases, a stronghold of Labrador expertise.


In connection with the closing of the first tranche, an arm's length party was
paid a cash commission of $6,000 and received 120,000 Common Shares in lieu of
cash commission. All securities issued under the closing of the first tranche of
the Offering are subject to a statutory hold period until June 26, 2011. The
Offering is subject to receipt of all necessary regulatory approvals. 


Labrador(R) eTriever is a secure, web-based, generic data retriever, which
thrives in complex database environments such as the Oil & Gas industry.
eTriever(TM) goes well beyond conventional methods of oil and gas data retrieval
to provide wireless data access using such devices as the BlackBerry(TM), the
iPhone(TM), and the iPad(TM).


Advisory

Certain information regarding Labrador set forth in this news release, including
the closing of the Increased Offering, the use of proceeds of the Offering may
constitute forward-looking statements under applicable securities laws and
necessarily involve substantial known and unknown risks and uncertainties. 


The forward-looking statements contained in this document are made as at the
date of this news release and Labrador does not undertake any obligation to
update publicly or to revise any of the included forward-looking statements,
whether as a result of new information, future events or otherwise, except as
may be required by applicable securities laws.

Labrador Resources (TSXV:LTX)
Historical Stock Chart
From Jun 2024 to Jul 2024

Labrador Resources (TSXV:LTX)
Historical Stock Chart
From Jul 2023 to Jul 2024