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Labrador Technologies Inc Completes Second Tranche Of Non-Brokered Private Placement


Friday, 5 Apr 2013 01:36pm EDT 

Labrador Technologies Inc announced that it has completed a second tranche closing of 13,000,000 units of the Company (the "Units") in connection with the non-brokered private placement (the "Private Placement") originally announced on January 28, 2013 for gross proceeds of $130,000. The aggregate gross proceeds received by the Corporation in connection with the Private Placement totalled $236,500 for the issuance of 23,650,000 Units of Labrador at a price of $0.01 per Unit. Each Unit consists of one common share (a "Common Share") and one-half (1/2) of a Common Share purchase warrant (a "Warrant") with each whole Warrant entitling the holder to acquire one additional Common Share of the Company at a price of $0.05 per share for a period of 12 months from the date of issuance of the Unit. The Private Placement is being conducted in accordance with the TSX Venture Exchange "Temporary Relief Measures", and proceeds will be allocated to the following: audits and accounting expenses; legal expenses; federal and provincial payments; operating loans; programming expenses; and other miscellaneous fees owing. The Common Shares and Warrants are subject to a four month hold period in accordance with applicable securities law. 

Company Quote

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16 Apr 2014