Principal Technologies Inc. announced a non-brokered private placement of up to 7,000,000 units at CAD 0.10 for gross proceeds of up to CAD 700,000 on March 6, 2023. Each unit will consist of one common share and one common share purchase warrant. Each Warrant entitles the holder to purchase one additional common share of the Company at CAD 0.12 for a period of three years from the date of closing.

Closing of the Private Placement are subject to approval of the TSXV and completion of final documentation. The securities to be issued under the Private Placement are subject to a four month plus one day hold period from the date of the issuance.