PRINCIPAL TECHNOLOGIES INC. ANNOUNCES FILING OF ANNUAL AND INTERIM FINANCIAL STATEMENTS

VANCOUVER, BC, Feb. 28, 2023 /CNW/ - Principal Technologies Inc. (the "Company") (TSXV: PTEC.P), is pleased to announce that further to its press release dated December 7, 2022, the Company has now filed its audited annual financial statements for the year ended July 31, 2022, related management's discussion and analysis, and officer certifications, as required by Parts 4 and 5 of National Instrument 51-102 Continuous Disclosure Obligations. The Company has also filed its unaudited interim financial statements and related management's discussion and analysis for the three months ended October 31, 2022.

The Company anticipates that the revocation of the failure to file financial statement Cease Trade Order will occur within a few days.

A Corporate Update will also be provided following the reinstatement of trading.

 ON BEHALF OF THE BOARD

Jerry Trent, Chief Executive Officer
Principal Technologies Inc.

Forward-looking statements:

"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 Principal Technologies Inc. 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 Principal Technologies Inc.'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. Principal Technologies Inc. disclaims any obligation to update or revise any forward-looking information or statements except as may be required."

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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