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VANCOUVER, BC, June 7, 2024 /CNW/ - Principal Technologies Inc. (the "Company") (TSXV: PTEC) (FSE: J07), is pleased to announce an increase in the previously announced non-brokered financing of 4,000,000 units (see news release dated April 3, 2024), to 8,000,000 units at $0.25 (the "Offering Price") for gross proceeds of up to $2,000,000 (the "Private Placement). Each unit (a "Unit") will consist of one common share (a "Share") of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Share of the Company at $0.30 for a period of two (2) years from the date of closing. The Company has received $1,000,000 of subscriptions with funds being held in escrow. The closing of a first tranche is pending receipt of TSX Venture Exchange ("TSXV") approval.
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