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Principal Technologies ( (TSE:PTEC) ) has shared an update.
Principal Technologies Inc. has announced a non-brokered private placement financing to raise up to $1.2 million through the issuance of 4,000,000 common shares at $0.30 per share. The proceeds will be used for general working capital purposes, and the offering is subject to regulatory approvals. An insider, Roman Leydolf, will participate in this offering, which is considered a ‘related party transaction,’ but the company is utilizing exemptions to expedite the process. This move is expected to bolster the company’s financial position and support its strategic focus on expanding its healthcare technology portfolio.
More about Principal Technologies
Principal Technologies Inc. is a Canadian-based healthcare technologies acquisition company focused on building a global portfolio of profitable healthcare technology companies. The company targets those with global distribution potential and intellectual property that can enhance medical treatment quality, cost efficiency, patient pathway optimization, and point of care technologies implementation.
Average Trading Volume: 60,830
Technical Sentiment Signal: Buy
Current Market Cap: C$31.19M
For an in-depth examination of PTEC stock, go to TipRanks’ Overview page.