Principal Technologies Funds Vivostat Acquisition

Principal Technologies, Inc. (TSE:PTEC) has released an update.

Principal Technologies Inc. has secured an €8 million loan from the GreenIslands Opportunities Fund to finalize its acquisition of Vivostat A/S, a profitable autologous sealant solution producer, and for general capital needs. In addition to the loan, the company also announced a private placement aiming to raise $1 million, with the issuance of up to 4 million units priced at $0.25. The loan will help expand Vivostat’s market reach, including new territories such as Japan, Brazil, and Australia.

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