CALGARY, ALBERTA--(Marketwire - Sept. 18, 2012) -
(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)
Labrador Technologies Inc. (TSX VENTURE:LTX) (the "Company") announces a decision by its board of directors (the "Board") to initiate a review of strategic alternatives and make changes to its Management Team.
The Board has decided to initiate a process to identify, examine and consider a range of strategic alternatives available to the Company with a view to enhancing shareholder value. There can be no assurances that the process will result in a transaction of any form. The Company has not set a definitive schedule to complete its evaluation and, notwithstanding the above, no decision on any particular alternative has been reached at this time.
H. Ronald Sterne has been appointed Chief Executive Officer and Jeffrey A. Howe has been appointed Acting Chief Financial Officer and Corporate Secretary. Terry J. Barnhart remains as President of the Company. John Redfern has resigned as Chairman of the Board while remaining on the Board, and Robert Winsloe has resigned as VP of International Marketing. The Company thanks Mr. Winsloe for past services.
Labrador(R) eTriever is a secure, web-based, generic data retriever, which thrives in complex database environments such as the Oil & Gas industry. eTriever® 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) to create a 'mobile office'.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release