VANCOUVER, BC, Dec. 7, 2022
/CNW/ - Principal Technologies Inc. (the "Company")
(TSXV: PTEC.P), which is building a diverse portfolio of
investments in healthcare technologies companies, announces that it
has been issued a cease trade order ("CTO") by the British
Columbia Securities Commission (the "BCSC") under National
Instrument 51-102 – Continuous Disclosure Obligations
effective December 2, 2022, as a
result of not filing its audited annual financial statements,
accompanying management's discussion and analysis, and
certifications for the year ended July 31,
2022 (the "Annual Filings") by the filing deadline of
November 28, 2022.
As previously announced on November 29,
2022, the Company's Annual Filings delay results from
delayed finalization of the European holdings' audit.
The Company is working diligently with its auditors to
complete the remaining audit and make the required filings soon.
Once complete, a news release will be issued indicating that the
Annual Filings have been submitted. Upon filing the Annual Filings,
the Company expects that the CTO will be revoked within one to two
business days, as is the customary practice. In the interim, the
Company continues to operate normally and without disruption.
The Company also confirms, as of the date of this news release,
that there is no other material information concerning the affairs
of the Company that has not been generally disclosed.
About Principal Technologies Inc.
Principal Technologies Inc. (TSXV: PTEC.P), is building a
diverse portfolio of investments in healthcare technology companies
with a focus on those with global distribution potential, that have
achieved regional success. Principal Technologies will also focus
on companies that have IP capable of enhancing medical treatment
quality and efficiency, cost efficiency, optimization of the
patient pathway, and implementation of point of care technologies.
In addition to providing growth capital, the company also aims to
support the growth of its portfolio with the expertise of its
management team, board, and advisers.
Learn more: https://principal-technologies.com/
ON BEHALF OF THE BOARD OF DIRECTORS:
Jerry Trent, Chief Executive
Officer
Principal Technologies Inc.
Neither TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
Cautionary Note Regarding Forward-Looking Information
This news release contains statements that constitute
"forward-looking statements." Such forward looking statements
involve known and unknown risks, uncertainties and other factors
that may cause Principal Technologie' actual results, performance
or achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should"
occur.
Forward-looking statements in this news release include
statements that are not historical facts. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors and risks include, among others: that
exploration and development activities will not be completed as
planned; that the results of exploration and development activities
will not be as anticipated. Principal Technologies Inc. may require
additional financing from time to time in order to continue its
operations which may not be available when needed or on acceptable
terms and conditions; compliance with extensive government
regulation; domestic and foreign laws and regulations could
adversely affect Principal Technologies' business and results of
operations; the stock markets have experienced volatility that
often has been unrelated to the performance of companies and these
fluctuations may adversely affect the price of Principal
Technologies' securities, regardless of its operating performance;
and the impact of COVID-19. The forward-looking statements
contained in this news release represent the expectations of
Principal Technologies as of the date of this news release and,
accordingly, are subject to change after such date. Readers should
not place undue importance on forward-looking information and
should not rely upon this information as of any other date.
Principal Technologies undertakes no obligation to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
SOURCE Principal Technologies Inc.