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 .

The Company has received approval from the TSXV for an extension and intends to close a third and final tranche of the Offering on or before January 17, 2024 . The Company has now received additional offers to participate in the third tranche of the Offering.

"We are exceptionally grateful for the support of both our existing and new shareholders to allow us to close this oversubscribed private placement," commented Jerry Trent , Chief Executive Officer of the Company. "We are now entering a new and exciting phase of our development as we advance discussions for our first major European healthcare acquisition. Our pipeline has never been stronger as we search for profitable, unique targets. We look forward to updating the market in due course."

Finder's fees in connection with the Offering, include two components, namely cash finder's fees (the " Cash Finder's Fees ") and finder's warrants (the " Finder's Warrants "). The Cash Finder's Fee shall be equal to eight percent (8%) of the amount provided to the Company pursuant to a financing or investment agreement entered into between the Company and a Designated Investor for financing or an investment in exchange for securities or other equity in the Company (the " Investment Agreement "). The Finder's Warrants shall be equal to eight percent (8%) of the number of securities received by the Designated Investor. Each non-transferable Finder's Warrant entitles the holder to purchase one common share (a " Share ") of the Company for a period of twenty-four (24) months from the date of issuance at a price of CAD$0.20 per Share. In connection with the closing of Tranche 2, Cash Finder's Fees of $33,720 were paid in cash and a total of 224,800 Finder's Warrants are issuable.

The Company intends to use the net proceeds of the Offering for working capital in order to secure a major asset and for general corporate purposes. All currency in this news release is denominated in Canadian dollars.

All securities issued pursuant to 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.

ON BEHALF OF THE BOARD

Jerry Trent , Chief Executive Officer
Principal Technologies Inc.

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.

SOURCE Principal Technologies Inc.

Cision View original content: http://www.newswire.ca/en/releases/archive/December2023/21/c4955.html

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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.

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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 .

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PRINCIPAL TECHNOLOGIES ANNOUNCES CLOSING OF FIRST TRANCH OF PRIVATE PLACEMENT

Principal Technologies Inc. (the " Company ") (TSXV: PTEC), is pleased to announce the closing of the first tranche (" Tranche 1 ") of its previously announced non-brokered private placement (the " Offering ") issuing a total of 2,336,500 common shares (the " Shares ") at $0.15 per Share for gross proceeds of $350,475.00 . The Company has received additional offers to participate in the Offering, and closing of the second tranche is anticipated in early December.

The Company also announces it has received approval from the TSXV Venture Exchange (" TSXV ") for an extension to close the Offering on, or before, December 21, 2023 . The Company first announced the Offering on October 6, 2023 for up to 6,000,000 common shares of the Company for aggregate gross proceeds of up to $900,000 .

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Principal Technologies Inc. (the " Company ") (TSXV: PTEC) (FRA: J07), is pleased to announce it has expanded and strengthened its advisory board by adding Joe Mullings to its Board of Advisors.

Mr. Joe Mullings is the Chairman & CEO of The Mullings Group Companies, including TMG Search and Dragonfly. The search firm, with over three decades in the industry, is responsible for more than 8,000 successful searches in medtech/healthtech/life sciences with clients ranging from multi-billion-dollar companies to emerging high-tech organizations worldwide. TMG's international presence and work with over 800 companies allow them to provide solutions with the clients they partner with across the globe. As the first search firm to integrate media and talent access, Dragonfly was launched as a media production company, complete with a state-of-the-art studio, for use by clients and partners for attention and awareness. Dragonfly is the media machine behind the 8-time Award-Winning video docuseries, "TrueFuture," of which Joe is the host.

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Principal Technologies Inc. (the " Company ") (TSXV: PTEC ) (FRA: J07 ), is pleased to announce the listing of the Company's common shares on the Frankfurt Stock Exchange (" FSE ") under the trading symbol " J07 ". The Company's shares are now cross listed on the TSX Venture Exchange (TSXV) in Canada and the FSE in Germany which ties in with the Company's strategy of bringing European best-in-class tech to North America .

The FSE is one of the world's largest international trading centers for securities. Operated by the Deutsche Boerse AG, FSE, is the largest of Germany's seven stock exchanges, and is responsible for approximately 90 percent of all securities traded in Germany . The FSE facilitates advanced electronic trading, settlement and information systems and enables cross-border trading for international investors.

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Company is Negotiating Major Licensing Deals For its GPT AI 3D Modeling Technology

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative GPT AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce is pleased to announce the expansion of its AI tech team by doubling its office space in Hyderabad, India, to accommodate its expanding team. The Company is also in negotiations for a major license of its GPT AI 3D modeling CAD to 3D and texturing technology. Nextech3D.ai will continue to supply 3D models to the largest brands and .platforms as it gears up increasing revenue and profit margins by signing licensing deals with global manufactures that have CAD files.3D GPT AI Licensing TechnologyThe Company's strategic move to license its GPT AI tech is set to remove the traditional barriers of price and volume that have long restricted the accessibility of high-quality 3D modeling technology for e-commerce and other industries. Nextech3D.ai has leveraged its groundbreaking GPT AI powered technology to dramatically slash the cost of 3D models from CAD files to $10 to 20 while producing the highest quality 4K quad mesh photo realistic models, enabling scalability while being highly profitable

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