VANCOUVER, BC, December 2, 2021 /CNW/ - Principal Technologies Inc. (the "Company") (TSXV: PTEC) is building a diverse portfolio of investments in global healthcare technology companies, and is pleased to be announcing its launch and strategic focus.
"We created Principal Technologies to identify, invest in, and accelerate the success of healthcare technologies that have demonstrated regional success, largely in Europe, and that have inherent global distribution potential," said Jerry Trent, President and Chief Executive Officer of Principal Technologies. "In addition to providing our portfolio companies with growth capital, we plan to actively support each company with the expertise of our management team, board, and advisers."
The senior executive team includes recognized leaders such as His Serene Highness Prince Alfred of Liechtenstein, who is serving as Chairman of the Board, and who has been involved in a broad range of healthcare initiatives internationally. Also part of the team is John McCoach, former President of the TSX Venture Exchange; Dr. Leopold Specht, Economic Council at Harvard Law School; Frank Stronach, a senior finance executive; and Jerry Trent, internationally accomplished investment banker and portfolio manager who is serving as President and CEO of the company.
Principal Technologies is also in the process of adding a highly seasoned and esteemed medical advisory team in-house. This will complement the executive team's extensive experience in the capital markets, which can support portfolio companies with their own IPO initiatives, ultimately providing the Company with potentially significant ROI and liquidity.
The Company is focused on identifying technologies with IP capable of improving patient outcomes by enhancing:
The Company's first investment was highly strategic; it took a majority stake in E&E CRO Consulting, which is a specialized clinical research organization (CRO) that supports healthcare technology companies with the planning and execution of clinical studies required for obtaining international distribution permits. E&E, and its predecessor organizations, have been operating in this space since 1991.
"We have been involved in and led the design of a broad range of clinical studies that have enabled our clients to successfully proceed through the international distribution permit process. This provides us with unique insights into cutting-edge technological developments and how they may fare as they aim toward international distribution. With decades of experience, we are able to strategically evaluate the potential future success of healthcare technologies in the global market," says Ilse Eder, CEO of E&E CRO Consulting.
The majority ownership interest in E&E provides the executives of Principal Technologies with industry expertise from an internal, highly seasoned technical due diligence team, while also providing continuous deal flow in addition to generating revenue for the company.
The Company released its consolidated financial statements for the years ended July 31, 2021 and 2020 (both preceding the Qualifying Transaction). For more information, please visit SEDAR (www.sedar.com).
About Principal Technologies Inc.
Principal Technologies Inc. (TSXV: PTEC.P), is building a diverse portfolio of investments in healthcare technology companies with a focus on those with global distribution potential, that have achieved regional success. Principal Technologies will also focus on companies that have IP capable of enhancing medical treatment quality and efficiency, cost efficiency, optimization of the patient pathway, and implementation of point of care technologies. In addition to providing growth capital, the company also aims to support the growth of its portfolio with the expertise of its management team, board, and advisers.
Learn more: https://principal-technologies.com/
Cautionary Note Regarding Forward-Looking Information
This news release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: (a) expectations regarding whether the Transaction will be consummated including whether the conditions to the consummation of the Transaction; (b) the timing for completing the Transaction, if at all, and the conditions to such transaction; and (c) expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the resulting issuer. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the ability to consummate the Transaction; the ability to obtain requisite regulatory and shareholder approvals and the satisfaction of other conditions to the consummation of the Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and the diversion of management time on the Transaction. These forward-looking statements may be affected by risks and uncertainties in the business of E&E, the Company and general market conditions, including COVID-19.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. E&E and the Company do not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
Completion of the Transaction is subject to a number of conditions, including but not limited to TSXV acceptance. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE Principal Technologies Inc.
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