Principal Technologies to settle $534,467 in debt by issuing shares
Principal Technologies (PTEC:CA) has announced the settlement of approximately C$534,467 in outstanding debts through a share issuance. The company will issue 1,068,934 common shares at a price of C$0.50 per share to certain creditors as part of this agreement. This move is intended to resolve existing liabilities and streamline the company's financial obligations without requiring cash outflows. By converting debt into equity, Principal Technologies aims to improve its balance sheet while maintaining liquidity for ongoing operations.
