Vancouver, British Columbia – September 27, 2023 –PrincipalTechnologies Inc. (the “Company”) (TSXV: PTEC.P),is pleased to announce that, subject to TSXV approval, it has engaged Oak Hill Financial Inc. (“Oak Hill“), a Toronto-based investor relations firm, to provide market awareness and investor relations services (the “Advisory Services”) to the Company in compliance with TSXV policies. Jonathan Robinson is a partner with Oak Hill and will be responsible for activities related to the Company.
The engagement agreement (“Agreement”) with Oak Hill for Advisory Services is set for an initial three-month term (the “Initial Term”), effective September 25, 2023, with provisions for automatic renewals unless a written notice is provided by the Company or Oak Hill within five (5) business days of a monthly renewal. As part of the Agreement, Oak Hill will receive C$10,000 per month plus expenses pre-approved by the Company during the term of the Agreement. The Company has also agreed to compensate Oak Hill Asset Management (“OHAM”) in cash on the gross consideration of any financing completed during the Initial Term or for a period of six months thereafter where funding is sourced from parties introduced by OHAM. Such fee will be calculated as four percent (4%) plus applicable taxes in cash of the gross amount sourced by OHAM and is payable on closing of such financing.
Oak Hill currently has no direct or indirect interest in the securities of the Company, or any right or intent to acquire such an interest. The appointment of Oak Hill as an investor relations consultant of the Company remain subject to regulatory acceptance of applicable filings with the TSXV.
About Oak Hill
Oak Hill is a leading investor relations and financial advisory firm specializing in small cap companies. Oak Hill will increase awareness about the Company through its established relationships with registered investment professionals, investment advisors, and money managers focused on the small and micro-cap market space. This will allow the Company to build and maintain an informed investor audience in the Canadian marketplace.
ON BEHALF OF THE BOARD
Jerry Trent, Chief Executive Officer
Principal Technologies Inc.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of the Company in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause the Company’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking information or statements except as may be required.