Mr. Kaan Camlioglu reports

CLARIFING NEWS RELEASE -- LABRADOR TECHNOLOGIES TO POSTPONE REPORTING FIRST QUARTER 2020 RESULTS DUE TO DELAYS CAUSED BY COVID-19

Labrador Technologies Inc. has provided clarification to the company's news release dated March 31, 2020.

The company announced the postponement of filing its interim financial statements and its interim management's discussion and analysis (MD&A) for the interim period ended Jan. 31, 2020, due to logistics and delays caused by COVID-19. The company will invoke Alberta Securities Commission Blanket Order 51-517 for temporary exemption from certain corporate finance requirements. Recent global events pertaining to COVID-19 have impacted the company's abilities to rely on timely information and meet to approve its financial statements and MD&A.

According to ASC Blanket Order 51-517, during the period from March 23, 2020, to June 1, 2020, a person or company required to make certain filings has an additional 45 days from the deadline otherwise applicable under Alberta securities laws to make the filings according to certain disclosure obligations by the company.

Pursuant to Blanket Order 51-517, the company is relying on the relief therein for its financial statements required by Section 4.2 of National Instrument 51-102 and its MD&A required by Subsection 5.1(2) of NI 51-102.

The company estimates that the required disclosure required by Alberta securities laws will be filed no later than May 15, 2020.

Until the company has filed and announced the required financial statements and MD&A, all management and other insiders are subject to the company's share-trading and blackout policy that reflects the principles in Section 9 of National Policy 11-207 -- Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

There have been no material business developments since the last audited financial statements were filed on Feb. 28, 2019.

About Labrador Technologies Inc.

Labrador Technologies is a Calgary-based technology company evaluating new opportunities in the technology sector.