Labrador Technologies Inc. Announces Closing of Oversubscribed Private Placement

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Labrador Technologies Inc. ("LTI" or "Labrador") (TSX VENTURE:LTX) is pleased to
announce that it has completed a non-brokered private placement (the "Private
Placement") originally announced August 18, 2011. The Private Placement was
oversubscribed, with LTI raising gross aggregate proceeds totaling $1,015,000 by
issuing 20,300,000 units of Labrador ("Units"), at a price of $0.05 per Unit.
Each Unit consists of one (1) common share ("Common Share") of LTI, and one (1)
common share purchase warrant ("Warrant"), with each Warrant exercisable at a
price of $0.10 per Common Share, for a period of three (3) years following the
closing of the Private Placement (the "Offering"). 


No agent was retained in connection with the Private Placement, but LTI paid
finder's fees in the amount of $101,500 and issued finder's warrants ("Finder's
Warrants") totaling 2,030,000 Warrants to qualified persons in accordance with
applicable securities laws. Each Finder's Warrant is exercisable into one Common
Share at a price of $0.10 per share for a period of three (3) years from the
closing of the Offering.


"The response to this financing has been unprecedented for the Company", said
CEO, Ron Sterne. "Although we are disappointed that all potential investors
could not be included, we know that ongoing progress and proven results will
continue to earn investor interest in LTI." 


All securities issued under the Offering are subject to a hold period until
December 27, 2011. The proceeds of the Offering will be used for expanding
eTriever's market launch into all sectors of the Oil & Gas industry, for
increasing and broadening eTriever R&D, for further enhancing the Labrador(R)
Tools, and for general working capital.  This eTriever(R) deployment phase will
be bolstered by LTI's logical growth and extension with its partners into
eTriever accessing data from proprietary databases, a stronghold of Labrador
expertise powered by the Labrador(R) Tools.


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 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.

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