Labrador Technologies Inc. (TSXV:LTX) entered into a Letter of Intent to acquire a 51% stake in Working interest in and gas properties in the Atlee area of Alberta from Kasten Energy Inc. for CAD 0.75 million on April 4, 2022. Labrador Technologies Inc. (TSXV:LTX) entered into an agreement to acquire Working interest in and gas properties in the Atlee area of Alberta from Kasten Energy Inc on April 6, 2022. The effective date of the Acquisition shall be March 31, 2022. A deposit of CAD 0.025 million will be payable contemporaneously with signing of the Definitive Agreements and a further deposit of CAD 0.175 million will be payable upon the approval of the TSXV and the balance of the Purchase Price, being CAD 0.582 million, will be paid by the Corporation to the Vendor at closing in the following manner: the Vendor will be issued 7 million common shares of the Corporation at a price of CAD 0.05 per common share for total consideration of CAD 0.350 million and the Vendor will be issued a promissory note secured by a general security agreement, in the amount of CAD 0.232 million. The Promissory Note will be repayable two years after the date of issue and shall bear interest at a rate of seven percent per annum. In addition, on the closing of the Acquisition, the Vendor will be entitled to nominate one director to the board of directors of Labrador. The Corporation will call the Special Meeting only if shareholder approval is required and after it has received approval from the TSXV for the form and content of the Information Circular pertaining to the Special Meeting, all in accordance with the policies of the TSXV, the satisfaction of each party with the results of their due diligence; Obtaining finances completing a private placement of Common Shares. In connection with the Acquisition, the Corporation intends to complete a private placement of common shares : (a) 4,000,000 Common Shares, at a price of CAD 0.05 per Common Share, for aggregate proceeds of CAD 200,000, and (b) 7,200,000 Flow Through Shares, at a price of CAD0.05 per Flow-Through Share, for aggregate proceeds of CAD 360,000. The Corporation also announces that it plans to enter into a credit facility with KSS Capital Partners Inc. in the amount of CAD 500,000.

As of September 7, 2022 Labrador Technologies Inc. entered into an Amended and Restated Purchase and Sale Agreement- 1) The payment of an additional CAD 175,000 upon receipt of TSXV approval. 2) the issuance of a Promissory Note in the amount of CAD 232,000 which bears interest at a rate of 7% per annum and is payable 2 years from the date of issue. 3) the issuance of a convertible debenture in the amount of CAD 350,000 which debenture may be converted at the option of the Company or the Vendor but not until a minimum of six months following the date of issuance.