/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
VANCOUVER, BC, Aug. 4, 2021 /CNW/
- Principal Technologies Inc. (the "Company")
(TSXV: PTEC.P), is pleased to announce that it has closed its
previously announced acquisition of an 80% interest (the
"Investment") in E&E CRO Consulting GmbH, an arm's
length, private company as previously disclosed in the Company's
news release dated July 8, 2021.
The Investment constitutes the Company's Qualifying Transaction
pursuant to the policies of the TSX Venture Exchange (the
"TSXV"). The Company expects that it will commence trading
as a Tier 2 Life Sciences Issuer on TSXV on August 6, 2021 under the ticker symbol
"PTEC".
The Company has also completed its previously announced private
placement (the "Private Placement") of 1,109,92 Common
Shares at a price of C$0.16 per share
for aggregate gross proceeds of €120,000, converted to Canadian
dollars based upon an exchange rate of €1.00:C$1.4799 . All Common Shares issued pursuant to
the Private Placement are subject to a hold period expiring on
November 29, 2021.
Forward Looking Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to the timing of the commencement of
trading.
With respect to forward-looking statements and information
contained herein, the Company has made numerous assumptions
including among other things, assumptions about the ability to
obtain final acceptance of the TSX-V.
Although management of the Company believes that the
assumptions made and the expectations represented by such
statements or information are reasonable, there can be no assurance
that forward looking statements or information herein will prove to
be accurate. Forward-looking statements and information by their
nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. These factors include, but are not
limited to: the final acceptance of the exchange may not be
delivered on the terms set forth herein or at. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
Neither TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this news release.
SOURCE Principal Technologies Inc.