PRINCIPAL TECHNOLOGIES ANNOUNCES OXFORD LICENCE AGREEMENT

VANCOUVER, BC, April 8, 2025 /CNW/ - Principal Technologies Inc. (the "Company" or "Principal") (TSXV: PTEC) (FWB: JO7) announces that it has signed a Licence of Technology Agreement ("Licence") with Oxford University Innovation Limited ("Oxford"), which runs for 20 years.

Under the terms of the Licence, the Company and Oxford will pursue the development of Oxford's thermal product sensor for specific medical applications. This will involve product development, testing and medical trials with all activities to be overseen by Oxford's technical experts.

Jerry Trent, Chief Executive Officer of Principal, stated "This long-term licence with Oxford is the most significant transaction of Principal to date. I appreciate all of the guidance I received from the experts at Oxford as we pursued this licence agreement and look forward to working with them as we develop the applications. We will update shareholders in the near future with information on funding, scheduling, trials and development plans for this exciting venture."

The Company is continuing the due diligence, legal and approval processes for the Syndermix AG acquisition announced on December 11, 2024. Based on the due diligence performed to date, including advice from Principals' Directors, the Company has decided not to pursue the acquisition of 70.7% of the equity of Syndermix AG as was originally contemplated. Although the original letter of intent has now lapsed, Principal is currently negotiating the purchase of one or more of the Syndermix AG medical assets in lieu of the entire portfolio.

About Principal Technologies

Principal Technologies Inc. is a Canadian-based healthcare acquisition company. The Company is engaged in building a portfolio of profitable healthcare technology companies with a focus on those with global distribution potential which have intellectual property capable of enhancing medical treatment quality, cost efficiency, optimization of the patient pathway, and implementation of point of care technologies.

ON BEHALF OF THE BOARD
Jerry Trent, Chief Executive Officer
Principal Technologies Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, including, without limitation, statements relating to pursuing the Licence, Oxford and a potential transaction with Syndermix AG are forward-looking statements based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the absence of material changes with respect to the Company and its businesses; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in currency markets (such as the Canadian dollar to Euro exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; the successful negotiation and execution of definitive documentation and the receipt of all requisite approvals. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.

Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE Principal Technologies Inc.

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