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


Friday, 26 Jul 2013 05:00pm EDT 

Labrador Technologies Inc announced that it has completed a second tranche closing of 2,000,000 units of the Company (the Units), for gross proceeds of $20,000, in connection with the non-brokered private placement (the Private Placement) originally announced on May 15, 2013. The Company has completed the Private Placement for aggregate gross proceeds of $120,000 in connection with the issuance of 12,000,000 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 has been conducted in accordance with the TSX Venture Exchange Temporary Relief Measures, and proceeds will be allocated to the following: audit and accounting expenses; legal expenses; federal and provincial payments; programming consulting expenses; landlord payments; corporate services; salary and wages. 

Company Quote

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16 Apr 2014