Principal Technologies Secures $1M in Private Placement

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

Principal Technologies Inc. has successfully completed the first tranche of a non-brokered private placement, raising $1 million by issuing 4 million units at $0.25 each to investor Markus Mair’s MRPT Invest UG. Mair now has increased his stake to 19% of the company’s shares, with the potential to reach 26.92% through warrants, subject to a 19.99% exercise limit. The funds raised are earmarked for general corporate purposes and the potential acquisition of Vivostat A/S.

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