VANCOUVER, BC, Nov. 22,
2024 /CNW/ - Principal Technologies Inc. (the
"Company" or "Principal") (TSXV: PTEC) (FSE: J07), is
pleased to announce a shares-for-debt settlement. The Company has
agreed to settle outstanding debt owed to three arm's length
parties, through the issuance of 363,500 common shares of the
Company (the "Debt Shares"). The principal amount of the
debt to be settled or repaid (the "Debt Settlement") is
an aggregate of $90,875 in fees and
expenses (collectively, the "Debt"). The Debt is being
settled through the issuance of 363,000 Debt Shares at a deemed
price of $0.25 per Debt Share.
Closing of the shares-for-debt transaction are subject to
approval of the TSX Venture Exchange and completion of final
documentation. The securities to be issued under the Private
Placement and shares-for-debt transaction are subject to a four (4)
month plus one day hold period from the date of the issuance.
About Principal Technologies
Principal Technologies Inc. is a Canadian-based healthcare
acquisition company. 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.
This news release contains "forward-looking
information" and "forward-looking statements"
(collectively, "forward-looking statements")
within the meaning of the
applicable Canadian
securities legislation. All statements, other than statements of historical fact, including
in relation to the closing of the Offering and use of proceeds
thereof, the satisfaction of the funding conditions and TSX Venture
Exchange approval are forward-looking
statements and are based on
expectations, estimates and projections
as at the date of this news
release. Any statement that
involves discussions with respect
to predictions, expectations, beliefs,
plans, projections, objectives, assumptions, future
events or performance (often but
not always using phrases such as
"expects", or "does not expect",
"is expected", "anticipates" or
"does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "believes"
or "intends" or variations of
such words and phrases or
stating that certain actions, events or
results "may" or "could", "would",
"might" or "will" be taken
to occur or be achieved) are
not
statements of historical fact and
may be forward-looking statements.
These forward-looking statements are
based on reasonable
assumptions and estimates of management of the Company at the
time such statements were made. Actual future
results may differ materially as
forward-looking statements involve known and
unknown risks, uncertainties and other factors
which may cause the actual results,
performance or achievements of the
Company to materially differ from any
future results, performance or achievements
expressed or implied by such
forward-looking statements. Such factors,
among other things, include: the
absence of material changes with
respect to the Company and its
businesses; fluctuations in general
macroeconomic conditions; fluctuations in
securities markets; fluctuations in currency
markets (such as the Canadian
dollar to United States dollar exchange
rate); change in national and
local
government, legislation, taxation, controls, regulations and political or economic
developments; the successful negotiation and execution of
definitive documentation and the receipt
of all requisite
approvals. Although the forward-looking statements contained in this news
release are based upon
what management of the Company
believes, or believed at the
time, to be reasonable
assumptions, the Company cannot assure
its shareholders that actual results
will be consistent with such
forward-looking statements, as there
may be other factors that cause
results not to be as
anticipated, estimated or intended.
Readers should not place
undue reliance on the forward-looking
statements and information contained in
this news release. Except as
required by law, the Company
assumes no obligation to update
the forward-looking statements of beliefs, opinions, projections, or other
factors, should they change, except as required by law.
SOURCE Principal Technologies Inc.
