VANCOUVER, BC, Sept. 27,
2023 /CNW/ - Principal Technologies Inc. (the
"Company") (TSXV: PTEC.P), is pleased to
announce that, subject to TSXV approval, it has engaged Oak Hill
Financial Inc. ("Oak
Hill"), a Toronto-based
investor relations firm, to provide market awareness and investor
relations services (the "Advisory Services") to the Company
in compliance with TSXV policies. Jonathan
Robinson is a partner with Oak
Hill and will be responsible for activities related to the
Company.
The engagement agreement ("Agreement") with Oak Hill for Advisory Services is set for an
initial three-month term (the "Initial Term"), effective
September 25, 2023, with provisions
for automatic renewals unless a written notice is provided by the
Company or Oak Hill within five
(5) business days of a monthly renewal. As part of the Agreement,
Oak Hill will receive C$10,000 per month plus expenses pre-approved by
the Company during the term of the Agreement. The Company has also
agreed to compensate Oak Hill Asset Management ("OHAM") in
cash on the gross consideration of any financing completed during
the Initial Term or for a period of six months thereafter where
funding is sourced from parties introduced by OHAM. Such fee will
be calculated as four percent (4%) plus applicable taxes in cash of
the gross amount sourced by OHAM and is payable on closing of such
financing.
Oak Hill currently has no
direct or indirect interest in the securities of the Company, or
any right or intent to acquire such an interest. The appointment of
Oak Hill as an investor relations
consultant of the Company remain subject to regulatory acceptance
of applicable filings with the TSXV.
About Oak
Hill
Oak Hill is a leading investor
relations and financial advisory firm specializing in small cap
companies. Oak Hill will increase
awareness about the Company through its established relationships
with registered investment professionals, investment advisors, and
money managers focused on the small and micro-cap market space.
This will allow the Company to build and maintain an informed
investor audience in the Canadian marketplace.
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.