Connect with us

Technology

PRINCIPAL TECHNOLOGIES ANNOUNCES FINANCING OF OXFORD LICENCE AGREEMENT

Published

on

VANCOUVER, BC, April 28, 2025 /CNW/ – Principal Technologies Inc. (the “Company” or “Principal”) (TSXV: PTEC) (FWB: JO7) provides an update on the Licence of Technology Agreement (“Licence”) with Oxford University Innovation Limited (“Oxford“).

Principal has entered into a financing agreement (the “Financing Agreement”) with RLOX Beteiligung GmbH (the “Funding Group”) dated April 25, 2025. pursuant to which the Funding Group will provide Principal with aggregate gross proceeds of C$3,744,000 (or €2.4 million) over four tranches by October 15, 2026, for a subscription of up to 4,940,000 common shares in the capital of Principal (the “Common Shares”) and a 50% interest in the net profits (the “NPI”) in the skin cancer related medical technology products developed under the Licence. The first tranche of C$934,500 (or €600,000) has been received by Principal. 

The proceeds from the Financing Agreement will be used to fulfill the research and development funding obligations of the Licence and for other general corporate purposes.

Jerry Trent, Chief Executive Officer of Principal, stated, “Obtaining this funding on favourable terms is a significant accomplishment for Principal. We work well with the Funding Group, and Principal will have a 50% interest in any skin cancer detection applications we develop with Oxford as a result of this financing. I am working closely with our partners at Oxford and will update our shareholders as we move from prototype development on to clinical trials for this exciting venture.”

A proportion of each tranche under the Financing Agreement is allocated between a subscription of Common Shares and the NPI, as set out below, with the price per Common Share being the greater of the below noted price and the applicable market price under the policies of the TSX Venture Exchange (the “TSXV”) on such date:

DATE (1)

ALLOCATED TO
COMMON
SHARES

SHARE
PRICE (2)

MAXIMUM NUMBER
OF COMMON SHARES
TO BE ISSUED

ALLOCATED TO
NET PROFITS
INTEREST (3)

April 28, 2025

$780,000

$0.25

3,120,000

€ 100,000

October 15, 2025

$624,000

$0.50

1,248,000

€ 200,000

April 15, 2026

$312,000

$0.75

416,000

€ 400,000

October 15, 2026

$156,000

$1.00

156,000

€ 600,000

TOTALS:

$1,872,000

4,940,000

€ 1,200,000

(1) Issuance date will be the latter of the date shown and the date of acceptance by the TSXV.

(2) Issuance share price will be the greater of the price shown and the applicable Market Price as such term is defined in the policies of the TSXV.

(3) Calculated using an exchange rate of EUR (€) = C$1.56

All transactions contemplated by the Financing Agreement remain subject to the acceptance of the TSXV  and, in respect of share issuances that would result in the Funding Group (including persons acting in concert therewith) holding 20% or more of the outstanding Common Shares, approval of the Company’s disinterested shareholders with respect to the creation of a new “Control Person” as defined under the policies of the TSXV.

The Funding Group, including the shareholders thereof, currently has no direct or indirect beneficial ownership or control over any Common Shares. It is anticipated that following the closing of the transactions contemplated by the Financing Agreement, and the debt settlement announced by Principal on April 17, 2025, the Funding Group, together with the shareholders thereof, will hold an aggregate of up to 7,971,561 Common Shares and 3,031,561 common share purchase warrants of the Company (the “Warrants”), which will represent up to 17.10% and up to 22.16% of Principal’s then anticipated issued and outstanding shares on a non-diluted and partially-diluted (assuming the exercise of the Warrants) basis, respectively.

All securities to be issued pursuant to the Financing Agreement will be subject to a statutory hold period expiring four months and one day from the date of issuance.

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 applicable Canadian securities legislation. All statements, other than statements of historical fact, including, without limitation, statements relating to the transactions contemplated by the Financing Agreement, including the use of proceeds, the receipt of requisite approvals, and the net profits from products developed under the Licence, 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. Should beliefs, opinions, projections, or other factors change, the Company assumes no obligation to update the forward-looking statements, except as required by law.

SOURCE Principal Technologies Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Ellucian Announces 2026 Impact Award Winners, Honoring Institutions Leading with Data, SaaS, and Student-First Innovation

Published

on

By

Key Highlights:

Ellucian recognized four institutions for innovative use of the company’s technology solutions to improve student outcomes and operational efficiency.Award winners demonstrated measurable impact through SaaS transformation, data-driven decision-making, and student-first digital experiences.Each winning institution will receive $25,000 USD to support continued innovation and student success initiatives.

RESTON, Va., April 22, 2026 /PRNewswire/ — Ellucian, the leading higher education technology solutions provider, announced the winners of its eighth annual Impact Award at Ellucian Live, the industry’s premier technology conference. The annual Ellucian Impact Award Program celebrates visionary higher education institutions that are inspiring others to push the boundaries of technology and innovation. These institutions demonstrate the impactful use of Ellucian’s AI-powered platform and solutions to transform the student experience and institutional performance.

Recognizing Innovation that Transforms Higher Education

“Higher education is being redefined in real time, and this year’s Impact Award winners exemplify what it means to lead through change,” said Laura Ipsen, President and CEO, Ellucian. “These institutions are harnessing the full power of Ellucian’s AI-driven, SaaS-native solutions to break down barriers, unlock insights, and create more connected, student-centered experiences. Their work demonstrates how innovation, when grounded in purpose, can drive meaningful outcomes for students, faculty, staff, and communities worldwide.”

2026 Ellucian Impact Award-winning institutions will each receive a $25,000 USD award recognizing achievements across four categories, including Students First, Unlocking the Power of Data, Shaping the Future through SaaS, and Institutional Agility.

The 2026 Ellucian Impact Award Winners are:

Shaping the Future through SaaS

St. John’s University – Queens, N.Y.

St. John’s University earned recognition for its bold, institution-wide SaaS transformation through Project Genesis, modernizing core systems across student, finance, and HR on Ellucian’s SaaS-native platform. The university retired nearly 800 customizations, reduced support requests by 20%, and enabled faculty and staff to save 30–40% of their time through streamlined processes. Critical services are now significantly faster, with financial aid processing reduced from multiple days to one day and grade changes completed in about an hour instead of a full day. With 99.99% uptime and a more agile operating model, St. John’s is accelerating innovation while strengthening the experience for students, faculty, and staff.

Students First

Florida Polytechnic University – Lakeland, Fla.

Florida Polytechnic University was recognized for transforming the student experience with Ellucian solutions delivering a unified, student-first digital campus. The central workspace, MyFloridaPoly, is a single hub consolidating academic, administrative, and campus life resources. Streamlining access to essential tools and services reduced login barriers by 85%, increased mobile usage by 70%, and helped students save up to two hours per week. At the same time, the university retired more than 100 customizations and reduced infrastructure and licensing costs by 40%, creating a modern, scalable environment built around student success and continuous innovation.

Unlocking the Power of Data

Rend Lake College – Ina, Ill.

Rend Lake College earned recognition for using Ellucian Student powered by Colleague to transform a manual, paper-based state reporting process — collecting required student career and demographic data — into a fully automated, data-driven workflow. The institution expanded its data collection reach by 45%, increasing from 1,290 to more than 1,870 students, while boosting response rates by over 13%. Automation eliminated approximately two weeks of manual data entry, improving accuracy and freeing staff to focus on higher-value, student-centered support. The initiative also delivered measurable financial impact and supported a 5% enrollment growth, demonstrating how targeted data innovation can drive both operational efficiency and institutional outcomes.

Institutional Agility

American University of Beirut – Beirut, Lebanon

The American University of Beirut was recognized for its exceptional institutional agility, leveraging Ellucian solutions to sustain operations and expand global reach amid ongoing national crises. Through the launch of AUB Online and modernization of its digital ecosystem, the university increased its program portfolio to more than 30 offerings and generated $6 million in tuition revenue, with continued growth projected. At the same time, AUB unified access to services through Ellucian’s central workspace capability, simplifying the digital environment by 83% and increasing user adoption from 45% to 90%. Operational efficiency improved significantly, with 80% fewer support tickets, 20% faster registration processes, and a 40% reduction in IT costs — positioning the university to deliver resilient, scalable education to learners worldwide.

To learn more about Ellucian solutions, visit: https://www.ellucian.com/

WHAT IS ELLUCIAN
Ellucian powers innovation for higher education, partnering with approximately 3,000 customers across 50 countries, serving more than 21 million students. Ellucian’s AI-powered platform, trained on the richest dataset available in higher education, drives efficiency, personalized experiences, and strengthened engagement for all students, faculty and staff. Fueled by decades of experience with a singular focus on the unique needs of learning institutions, the Ellucian platform features best-in-class SaaS capabilities and delivers insights needed now and into the future. These solutions and services span the entire student lifecycle, including data-rich tools for student recruitment, enrolment, and retention to workforce analytics, fundraising, and alumni engagement. Ellucian’s innovative solutions, vast ecosystem of partners and user community of more than 45,000 provides best practices leading to greater institutional success and achieving better student outcomes.

Media Contacts
Greg Giangrande, Chief Marketing Officer
Greg.Giangrande@Ellucian.com

Jess Weston, Manager, Communications
Jess.Weston@Ellucian.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/ellucian-announces-2026-impact-award-winners-honoring-institutions-leading-with-data-saas-and-student-first-innovation-302749336.html

SOURCE Ellucian

Continue Reading

Technology

Bahamas Grid Company Appoints Two New Board Directors

Published

on

By

NASSAU, The Bahamas, April 22, 2026 /PRNewswire/ — Bahamas Grid Company (BGC) today announced the appointment of Nikolai Sawyer and Debra Symonette to its Board of Directors, effective April 20, 2026.

These appointments follow the company’s recent transition to a fully independent, Bahamian-led operating model, including the conclusion of Island Grid Solutions’ management role and the appointment of new executive leadership.

Mr. Sawyer is a senior financial attorney with over 20 years of experience across corporate law, banking, and financial services. He brings deep expertise in regulatory strategy, risk management, and corporate governance. 

Ms. Symonette is President and Director of Super Value Food Stores Limited and a Certified Public Accountant with over 25 years of financial leadership experience. She has held senior roles in accounting, audit, and corporate governance, and currently serves as a Director of Commonwealth Bank. 

“With these appointments, BGC continues to strengthen its governance as we move forward as a fully Bahamian-led organization,” said Anthony Ferguson, Chairman of BGC. “Nikolai and Debra bring extensive legal, financial, and operational experience that will support the company’s long-term performance and accountability.”

“This is an important step in BGC’s continued evolution,” said Dareo McKenzie, Chief Executive Officer. “I look forward to working with the Board to drive long-term performance and reliability across the system.”

The company’s Board of Directors now comprises Anthony Ferguson (Chairman), Nikolai Sawyer, and Debra Symonette.

About Bahamas Grid Company
Bahamas Grid Company (BGC) is a utility company in New Providence responsible for upgrading, maintaining, and operating the island’s transmission and distribution infrastructure, with the goal of delivering reliable, resilient, and sustainable power to all residents and businesses. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/bahamas-grid-company-appoints-two-new-board-directors-302750713.html

SOURCE Bahamas Grid Company

Continue Reading

Technology

Auburn’s College of Education embraces an AI-powered future to advance its mission

Published

on

By

AUBURN, Ala., April 22, 2026 /PRNewswire/ — As Artificial Intelligence (AI) becomes more integrated into daily life, Auburn University’s College of Education is sharpening its focus on this powerful tool and exploring how it can strengthen the preparation of future educators and healthcare workers.

Throughout the College of Education (and featured in the recent release of the college’s Keystone Magazine), artificial intelligence is being thoughtfully integrated across its four academic units, reflecting both the breadth of the college and a shared commitment to ethical, human-centered practice. Auburn College of Education Dean Jeffrey Fairbrother shared his perspective on how artificial intelligence aligns with the college’s vision for the future.

“In the College of Education, we’re committed to opening doors and improving lives, and artificial intelligence is an important door to opportunity,” he said. “I am proud of our faculty who are embracing AI to expand access, enhance learning and empower educators, always guided by ethics and integrity. By opening these doors today, we’re building a better future for all, far into the future.”

In the Department of Curriculum and Teaching, faculty are focused on teacher preparation and continuously improving methods of learning. Paul Fitchett, head of C&T, oversees several faculty members leading AI-focused initiatives, including some who are developing a course on the applied use of AI in the workplace that will come with industry credentialing.

“We are exploring AI through a number of different, applied facets,” Fitchett said. “Some individuals are leveraging AI to expand research capabilities while others are engaging AI to support teaching and learning, improving the educational experience for instructors and students alike.”

In Agricultural Education, Leadership and Communications, AI is treated as both a research tool and an object of study, with faculty developing a new AI course and even patent-pending technologies that support agriculture, Extension work and global food systems, always emphasizing the “expert in the loop” and transparency over blind automation. In Elementary Education, future teachers learn to use AI as a collaborative planning and efficiency tool, refining outputs through pedagogical expertise and deep knowledge of learners.

Margaret Flores, interim head of the Department of Special Education, Rehabilitation, and Counseling, emphasized the importance of research regarding how AI will impact these professions. SERC faculty members are working to integrate AI into their classrooms to inform their students about future uses in their careers.

In Clinical Rehabilitation Counseling, faculty are embedding AI directly into applied coursework, training students to critically evaluate AI-generated vocational data, labor market information and assessment recommendations while grounding decisions in professional judgment and ethics. In the School Counseling Program, students are prepared to navigate AI’s possibilities and limits through ethics-focused coursework and national research, reinforcing that empathy, nuance and confidentiality remain irreplaceable.

Meanwhile, the Education to Accomplish Growth in Life Experiences for Success (EAGLES) Program is leveraging AI as an equalizer for students with intellectual disabilities, using federally funded digital literacy and AI modules to promote independence, self-advocacy and access.

“AI can enhance the services or instruction that we provide, reduce administrative tasks and increase efficiency in research,” Flores said. “We must ensure that researchers are shaping how AI is changing our fields.”

In the Department of Educational Foundations, Leadership, and Technology, faculty are working with AI in multiple ways. Through basic and applied research, faculty are addressing early childhood vocabulary learning and mathematics learning, and learning how AI can help with research workflow, STEM learning and even the development of education policy.

Several faculty members are also incorporating AI into their classrooms, including the use of an AU tutor to support independent learning and AI-explicit language in teaching materials such as syllabi.

EFLT Department Head Hank Murrah said that his unit’s approach is about embracing the changes that come with AI while also working to shape how it will affect the future of education.

“We view AI as both a transformative research tool and a catalyst for innovation in teaching and learning,” Murrah said. “Our faculty are developing AI-driven interventions for STEM education, leveraging AI to streamline research workflows and exploring ethical frameworks for its use in classrooms. These efforts position us to prepare graduates who are not only AI-literate but capable of shaping evidence-based policy and practice. We believe AI will redefine how educators design learning experiences and how researchers generate insights—making education more adaptive, fair and impactful.”

Matt Miller serves as the director of the School of Kinesiology, whose faculty members are exploring how AI can help with conducting research and processing data to find ways to improve a person’s health. Within the School of Kinesiology, AI is being introduced in coursework related to exercise prescription and programming, helping students analyze data, tailor training plans and think critically about how emerging technologies can support safe, individualized, evidence-based practice.

“School of Kinesiology faculty members conduct research that yields large and complex datasets involving measures related to human movement, including but not limited to their physical activity throughout the day, brain activity during exercise, joint angles while walking or throwing a ball and protein expression after exercise training,” Miller said. “AI helps faculty members make sense of these measures to translate research findings into practical knowledge that can be used to enhance health and performance.”

Additionally, in the School of Kinesiology, the Sensorimotor and Rehabilitation (SMART) Neuroscience Lab studies the neuroscience of human movement using virtual and augmented reality simulations. And now, a new member of the lab has joined the team to help understand things like balance and walking: Circuit, the robotic “dog” who comes complete with artificial intelligence built in. Circuit is what’s called a quadruped robot (“robot dog”), and he’s used to explore new ways of supporting older adults’ safety at home.

Led by Director of Physical Therapy Harsimran Baweja, the SMART Neuroscience Lab is using Circuit to study whether robot dogs equipped with artificial intelligence and advanced sensors can reliably track human movement during everyday activities.

While there are many uses for AI, College of Education faculty members are also acutely aware that the human touch is an essential part of their work. The overall goal is to use AI to enhance the service provided to another human being, whether they are a student or a patient.

“Whatever their approach, integrity and professional ethics remain the driving force for our use of generative Artificial Intelligence,” Fitchett said. “Maintaining these principles is essential as we navigate an ever-changing landscape.”

Together, these efforts highlight a college-wide approach to AI that spans disciplines and populations, using emerging technologies not as replacements for human expertise, but as tools to expand opportunity, insight and impact.

View original content to download multimedia:https://www.prnewswire.com/news-releases/auburns-college-of-education-embraces-an-ai-powered-future-to-advance-its-mission-302750731.html

SOURCE Auburn University College of Education

Continue Reading

Trending