Principal Technologies Announces Annual General and Special Meeting of Shareholders

Principal Technologies Inc. (the "Company") (TSXV: PTEC.P), is pleased to announce that it has filed on SEDAR, a Notice of Annual General and Special Meeting of Shareholders (the "AGSM") to be held on Tuesday, December 12, 2023 at 9:30am (Pacific Time). The Information Circular and Proxy Vote documents will be mailed to shareholders of record as of October 30, 2023 and posted to the Company's website (www.principal-technologies.com).

Over the past year, the Company has been actively identifying and evaluating medical technology opportunities with the goal of closing a significant acquisition within the next year. The Company has benefitted from the significant business experience, contacts and referrals of the current Directors, all of whom will be put forward for re-election at the AGSM. Shareholders will also be asked to approve a 10% fixed stock option plan. This option plan will replace the existing equity compensation plan available to the Chief Executive Officer. Shareholders are reminded that proxies must be received by 9:30am (Pacific Time) on December 8th, 2023.

ON BEHALF OF THE BOARD

For investor inquiries or further information, please contact: frame@principal-technologies.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements:

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward- looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of the Company in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause the Company's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking information or statements except as may be required.

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