Principal Technologies Inc has announced non-brokered private placement to issue 6,000,0000 common shares at a price of CAD 0.15 per share for gross proceeds CAD 900,000 on October 6, 2023. The company may pay a finder's fee in connection to eligible finders, in accordance with the policies of the exchange and applicable securities laws, consisting of: (i) a cash commission of up to 8% of the gross proceeds of the private placement; and (ii) a number of common share purchase warrants equal to up to 8 per cent of the number of shares sold pursuant to the private placement. Each finder's warrant will entitle the holder thereof to acquire one share at a price of CAD 0.20 for a period of 24 months from the date of issuance.

The transaction is subject to approval of the exchange, and all shares and securities of the company issued pursuant to the transaction, will be subject to a four-month hold period from the date of issuance. The transaction will not result in the creation of anew control person of the company.