PRINCIPAL TECHNOLOGIES ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

PRINCIPAL TECHNOLOGIES ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

Principal Technologies Inc. (the " Company ") (TSXV: PTEC) (FSE: J07), is pleased to announce the closing of the first tranche (" Tranche 1 ") of its previously announced non-brokered private placement (the " Offering ") with one investor, MRPT Invest UG (" MRPT "), a company owned and controlled by Markus Mair . The Company issued a total of 4,000,000 units at $0.25 per unit for gross proceeds of $1,000,000 . Each unit (a " Unit ") will consist of one common share (a ' Share ") of the Company and one common share purchase warrant (a " Warrant "). Each Warrant entitles the holder to purchase one additional Share of the Company at $0.30 for a period of two (2) years from the date of closing. The Warrants are subject to a blocker term that prohibits exercise of the Warrants to the extent the holder would as a result of any exercise exceed 19.99% of then issued Shares.

As a result of the acquisition of Units, Mr. Mair now owns and/or controls directly and indirectly 7,003,333 Shares and 4,000,000 Warrants, representing 19% of the issued and outstanding Shares of the Company and 26.92% on a partially diluted basis, but, as noted above, Mr. Mair will be restricted to 19.99% at any one time. Prior to this transaction, Mr. Mair, through MRX Invest UG (a company owned and controlled by Mr. Mair), held 3,003,333 Shares of the Company, representing 9.14% of the issued and outstanding Shares of the Company. Mr. Mair selectively invests in growth opportunities and has been a significant supporter of the Company during the acquisition phase.

Mr. Mair and his related entities acquired these securities for investment purposes and, as disclosed in the early warning report accompanying this news release, may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant.

This news release is being issued under the early warning provisions of Canadian securities legislation. A copy of the early warning report to be filed by Mr. Mair in connection with the Offering will be available under the Company's profile on SEDAR+ at ( www.sedarplus.ca ).

Proceeds of the Offering will be used for general working capital and corporate purposes of the Company, including those as may be required by Vivostat A/S (" Vivostat ") conditional on the closing of the acquisition of Vivostat.

All securities issued pursuant to Tranche 1 of the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities. The Offering remains subject to final approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD

Jerry Trent , Chief Executive Officer
Principal Technologies Inc.

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.

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 and approvals; 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.sedarplus.ca . The Company disclaims any obligation to update or revise any forward-looking information or statements except as may be required.

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.

SOURCE Principal Technologies Inc.

Cision View original content: http://www.newswire.ca/en/releases/archive/June2024/20/c8931.html

News Provided by Canada Newswire via QuoteMedia

PTEC:CC
Principal Technologies

Principal Technologies Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Principal Technologies (TSXV:PTEC)

Principal Technologies


Keep reading...Show less
PRINCIPAL TECHNOLOGIES ANNOUNCES UPSIZING OF PRIVATE PLACEMENT

PRINCIPAL TECHNOLOGIES ANNOUNCES UPSIZING OF PRIVATE PLACEMENT

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Principal Technologies Inc. (the " Company ") (TSXV: PTEC) (FSE: J07), is pleased to announce an increase in the previously announced non-brokered financing of 4,000,000 units (see news release dated April 3, 2024 ), to 8,000,000 units at $0.25 (the " Offering Price ") for gross proceeds of up to $2,000,000 (the " Private Placement) . Each unit (a " Unit ") will consist of one common share (a " Share ") of the Company and one common share purchase warrant (a " Warrant "). Each Warrant entitles the holder to purchase one additional Share of the Company at $0.30 for a period of two (2) years from the date of closing. The Company has received $1,000,000 of subscriptions with funds being held in escrow. The closing of a first tranche is pending receipt of TSX Venture Exchange (" TSXV ") approval.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PRINCIPAL TECHNOLOGIES ANNOUNCES LOAN FINANCING AND PRIVATE PLACEMENT AND PROVIDES UPDATE ON VIVOSTAT A/S ACQUISITION

PRINCIPAL TECHNOLOGIES ANNOUNCES LOAN FINANCING AND PRIVATE PLACEMENT AND PROVIDES UPDATE ON VIVOSTAT A/S ACQUISITION

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Principal Technologies Inc. (the " Company ") (TSXV: PTEC) (FSE: J07), is pleased to announce that on March 8, 2024 it entered into a binding commitment letter with the effect that the GreenIslands Opportunities Fund (the " Lender ") will provide a secured loan in the principal amount of €8,000,000 (the " Loan ") to provide acquisition financing with respect to the cash portion of the purchase price for Vivostat AS (" Vivostat "), as further outlined in its news release dated February 6, 2024 and for general working capital purposes.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PRINCIPAL TECHNOLOGIES ANNOUNCES FUNDAMENTAL ACQUISITION OF VIVOSTAT A/S

PRINCIPAL TECHNOLOGIES ANNOUNCES FUNDAMENTAL ACQUISITION OF VIVOSTAT A/S

/Not for distribution to U.S. news wire services or for dissemination in the United States /

  • Binding Share Purchase Agreement to purchase 100% of Denmark -based Vivostat A/S (" Vivostat ").
  • Vivostat has a unique system for on-site preparation and application of autologous concentrated fibrin and platelet enriched fibrin sealants for use in post-surgical procedures.
  • Used in over 200,000 surgical procedures, Vivostat's system has peer-reviewed evidence of zero rejection and infection rates.
  • Vivostat has been profitable for the last 3 years and currently generates revenues of approximately €3,600,000 per year with a 60% gross profit margin.
  • Vivostat is currently only actively marketed in six European countries representing less than 10% of its total addressable market.
  • Transaction is expected to close on or before March 15, 2024 , subject to receipt of applicable approvals, including of the TSX Venture Exchange (" TSX-V ") and satisfaction of conditions.

Principal Technologies Inc. (the " Company " or " Principal ") (TSXV: PTEC) (FSE: J07), is pleased to announce that as at February 6, 2024 it entered into an arm's length binding Share Purchase Agreement (" SPA ") to acquire (the " Acquisition ") 100% of the equity interests of Vivostat, a 23-year-old Danish company which uses a unique autologous fibrin sealant solution for post-surgical use.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PRINCIPAL TECHNOLOGIES CLOSES THIRD AND FINAL TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT

PRINCIPAL TECHNOLOGIES CLOSES THIRD AND FINAL TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT

/Not for distribution to U.S. news wire services or for dissemination in the United States /

Principal Technologies Inc. (the " Company ") (TSXV: PTEC ), is pleased to announce the closing of the third and final tranche (" Tranche 3 ") of its previously announced non-brokered private placement (the " Offering "). The Company issued an additional 833,333 common shares (the " Shares ") at $0.15 per Share for gross proceeds of $124,999.95 bringing the total offering to 9,993,166 Shares for aggregate gross proceeds of $1,498,974.95 when combined with the two previous closings, subject to final approval from the TSX Venture Exchange (" TSXV "). For more information on the Offering, see the Company's news releases dated October 6, 2023 November 21, 2023 and December 21, 2023 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PRINCIPAL TECHNOLOGIES CLOSES SECOND TRANCHE AND ANNOUNCES UPSIZE OF OVERSUBSCRIBED PRIVATE PLACEMENT

PRINCIPAL TECHNOLOGIES CLOSES SECOND TRANCHE AND ANNOUNCES UPSIZE OF OVERSUBSCRIBED PRIVATE PLACEMENT

 Principal Technologies Inc. (the " Company ") (TSXV: PTEC), is pleased to announce the closing of the second tranche (" Tranche 2 ") of its previously announced non-brokered private placement (the " Offering "). Under Tranche 2 of the Offering, the Company issued 6,823,333 common shares (the " Shares ") at $0.15 per Share for gross proceeds of $1,023,500 . The total raised under the Offering to date is $1,373,975 .

The Company also announces that it has increased the size of the Offering, as previously described in the Company's news releases dated October 6, 2023 and November 21, 2023 . The Company now intends to issue up to 10,700,000 Shares at a price of $0.15 per Share for total gross proceeds of approximately $1,600,000 subject to final approval from the TSX Venture Exchange (" TSXV "). The Company first announced the Offering for up to 6,000,000 common shares of the Company for aggregate gross proceeds of up to $900,000 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Linius Technologies Limited

Linius Technologies Limited (ASX: LNU) – Trading Halt

Description

The securities of Linius Technologies Limited (‘LNU’) will be placed in trading halt at the request of LNU, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 8 July 2024 or when the announcement is released to the market.

Keep reading...Show less
XReality Group

Operator XR – Sales Update June 24

xReality Group Limited (“XRG” or the “Company”) is pleased to provide the following sales update for Operator XR, a wholly owned subsidiary of xReality Group Ltd. Operator XR provides Military and Law Enforcement agencies around the world with a unique, integrated Mission Planning & Rehearsal System, which is portable, secure, and highly immersive.

Keep reading...Show less
XReality Group

Operator XR –Awarded $800,000 Government Contract

xReality Group Limited (“XRG” or the “Company”) is pleased to announce the sale of multiple systems of its Operator XR Virtual Reality Training System to a new Australian State Government customer.
Keep reading...Show less
XReality Group (ASX:XRG)

XReality Group


Keep reading...Show less
Linius Technologies Limited

Linius Now Live with First Deployment in American Football

Linius Technologies Limited (ASX:LNU) (Linius or Company) – the only cloud-based solution that unlocks the value of video archives with immersive, deeply personalized viewer experiences via its Linius Media Solutions portfolio – is pleased to announce that the deployment of its sports solution, Whizzard, is now live with its customer Lone Star Conference.

Keep reading...Show less
Sona's Cancer Therapy Triggers Abscopal Effect, Eliminating Distant Tumors In Preclinical Melanoma Study

Sona's Cancer Therapy Triggers Abscopal Effect, Eliminating Distant Tumors In Preclinical Melanoma Study

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") is pleased to announce that a detailed biomarker analysis of the recently reported pre-clinical melanoma study conducted at Dalhousie University (the "Study") indicates that, beyond shrinking tumors on its own, Sona's Targeted Hyperthermia Therapy ("THT") also stimulates the innate immune system to target and eliminate untreated (contralateral) tumors when combined with a standard immunotherapeutic drug, IL-2. (See figure #1, below.) On the basis of efficacy data achieved in two different murine cancer models (triple negative breast cancer and malignant melanoma), the Company is now proceeding with safety and biocompatibility testing that will be required by regulating agencies to enter into human studies.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Principal Technologies

Principal Technologies Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×