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 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.

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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.

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/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.

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/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

/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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Zero Candida Technologies, Inc. (ZCT), is a medical device company bringing female healthcare into the 21st century. They are transforming the treatment of Vulvo-Vaginal Candidiasis ("VVC"), which affects 75% of women worldwide, often recurrent and increasingly drug-resistant with current treatments failing to address the root cause effectively. Free from chemicals and side effects, their AI-driven tampon-like device enables real-time data collection and transmission to physicians for personalized, at-home treatment. Beyond VVC, ZCT aims to revolutionize gynecology, improving access for underserved populations and advancing hybrid medicine.

Please refer to the Company's website here.

MEDIA CONTACT:
Victoria Gamble
Corporate Development Consultant
victoria@zero-candida.com
416-706-0332

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231280

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