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Principal Technologies Inc. (the "Company" or "Principal") (TSXV: PTEC,OTC:PTEKF) (OTC PINK: PTEKF) (FWB: JO7) announces that it has entered into a research and development agreement with the University of Oxford ("Oxford") to develop and test the thermal sensor, the subject of the Company's long-term licence with Oxford (see press release dated April 8, 2025), for, among other applications, cancer diagnosis and treatment.
"We are excited about the development phase of the thermal sensor," said Principal CEO Jerry Trent. "There are at least seven proposed medical applications of the Oxford proprietary heat sensing technology and the successful development of these applications has become a main focus of our organization going forward."
Principal also announces that after a review of its operations and the increasing focus on its own research and development activities, it has decided to reduce its 80% stake in its Austrian subsidiary E&E CRO Consulting GmbH ("E&E CRO") to 20% and, accordingly, has agreed to the sale of the commensurate number of shares of E&E CRO (the "E&E CRO Disposition") to the management of E&E CRO for its nominal value.
E&E CRO advises healthcare companies on how to efficiently conduct clinical studies and the Company remains committed to the continued progress of E&E CRO.
Completion of the E&E CRO Disposition is subject to the receipt of all requisite corporate and regulatory approvals, including the acceptance of the TSX Venture Exchange.
About Principal Technologies
Principal Technologies Inc. is a global healthcare technologies investor. The Company is engaged in building a portfolio of profitable healthcare technology companies with a focus on those with global distribution potential which have intellectual property capable of enhancing medical treatment quality, cost efficiency, optimization of the patient pathway, and implementation of point of care technologies.
ON BEHALF OF THE BOARD
Jerry Trent, Chief Executive Officer
Principal Technologies Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, research and development of the thermal sensor technology, including the results and effect thereof, proposed medical applications for which heat sensing technology is being developed, and the disposition of the Company's majority interest in E&E CRO, including the receipt of all required approvals thereto. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, social and regulatory uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the Company's ability with Oxford to complete research and development of heat sensing technology and the ability of the Company to obtain acceptance of the E&E CRO Disposition from the TSX Venture Exchange. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
SOURCE Principal Technologies Inc.
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