CALGARY, Alberta, Dec. 28, 2018 (GLOBE NEWSWIRE) -- Labrador Technologies Inc. ("Labrador" or the "Company") (TSXV: "LTX") today announces, with great sadness, the sudden death of H. Ronald Sterne, President, Chief Executive Officer and Director.
Mr. Jeff Howe, interim Chief Financial Officer of Labrador, commented that "Since 1981, Ron has been a tremendous leader as the Chief Executive Officer of the company that he founded. He led the company through its initial public offering and the successful development of several technologies. He had a passion for Labrador Technologies that was unrivalled. He will be sadly missed by all those who knew him."
The TSXV has been notified of this material change, and the Board of Directors has arranged a special meeting for the purpose of filling the vacancy on the Board and to consider nominees for appointment as Chief Executive Officer.
The Company has requested a halt of trading until the Company is in a position to appoint a new Chief Executive Officer. The Company has further requested that the halt remain in effect until the Company has been able to determine the appropriate corporate direction for Labrador and its staffing of its management going forward. The Company expects that the halt of trading will be in place for a period of approximately two weeks, at which point the Company will issue a further press release.
About Labrador Technologies
Labrador Technologies is a Calgary, Alberta based software development firm providing map-based innovative solutions for industries seeking a visual interpretation of financial reporting. Labrador has expanded its vision beyond Oil & Gas data to focus on cannabis data collection and specialized reporting.
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Jeff Howe, Interim Chief Financial Officer
T: (403) 263-6325