PRINCIPAL TECHNOLOGIES CLOSES THIRD AND FINAL TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT
Summary
For more information on the Offering, see the Companys news releases dated October 6, 2023, November 21, 2023, and December 21, 2023.In connection with the closing of Tranche 3, finders fees totaling $4,000 cash were paid and non-transferable share purchase warrants issued to purchase up to 26,667 Shares of the Company for a period of twenty-four (24) months from the date of issuance, expiring on January 18, 2026.We are very pleased to complete this $1.5 million private placement said the Companys CEO, Jerry Trent. It provides ample funds for us to be able to seek out and validate a significant healthcare technologies opportunity for the Company, which is our main focus for 2024.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. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.ON BEHALF OF THE BOARDNeither the 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.This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. 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 Companys 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 Managements Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.