On January 18, 2024, Principal Technologies Inc. closed the transaction. The company issued 833,333 common shares at an issue price of CAD 0.15 per Share for gross proceeds of CAD 124,999.95 in the third and final tranche bringing the total offering to 9,993,166 Shares for aggregate gross proceeds of CAD 1,498,974.95. In connection with the closing of Tranche 3, finder?s fees totaling CAD 4,000 cash were paid and non-transferable share purchase warrants issued to purchase up to 26,667 Shares of the Company for a period of 24 months from the date of issuance, expiring on January 18, 2026.

All securities issued pursuant to the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities. The transaction was oversubscribed.