Latest news with #Licence
Cision Canada
2 days ago
- Business
- Cision Canada
PRINCIPAL TECHNOLOGIES ANNOUNCES PRIVATE PLACEMENT FINANCING
VANCOUVER, BC, July 28, 2025 /CNW/ - Principal Technologies Inc. (the " Company" or " Principal") (TSXV: PTEC) (FWB: JO7) is pleased to announce that, further to its news release dated April 28, 2025, regarding the financing of its Licence of Technology Agreement (the " Licence") with Oxford University Innovation Limited, the Company announces it has arranged to complete the second round of financing (" Second Round") ahead of schedule. The Second Round was originally contemplated to occur in October 2025 and to consist of the issuance of 1,248,000 common shares of the Company (" Common Shares") at a price of $0.50 per Common Share to raise proceeds of $624,000 (the " Proceeds"). The Company is now targeting to complete the Second Round by issuing an aggregate of 2,080,000 Common Shares within the next week at a price of $0.30 per Common Share (the " Issuance Price") to raise the Proceeds. The Issuance Price represents a 13% premium to market. The Second Round is fully allocated to a significant shareholder of the Company and no finder's fees are applicable. The proceeds of the Second Round are intended to be used to fulfill the research and development funding obligations of the Licence and for other general corporate purposes. The Common Shares to be issued in connection with the Second Round will be subject to the statutory hold period of four months from the date of issuance in accordance with applicable Canadian securities legislation. Completion of the Second Round is subject to the receipt of all requisite approvals, including the acceptance of the TSX Venture Exchange. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. Related Party Participation in the Offering A significant shareholder of the Company will be participating in the Offering by purchasing the Common Shares. The participation by Roman Leydolf an insider of Principal, constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities purchased by the insider, nor the consideration for the securities paid by such insider, exceeds 25% of Principal's market capitalization. The Company expects that the closing of the Second Round will occur within 21 days of this announcement and that it will not file a material change report in respect of the related party transaction at least 21 days before the closing. The Company deems this circumstance reasonable in order to complete the Second Round in an expeditious manner. The Second Round has been unanimously approved by the Company's board of directors. About Principal Technologies Principal Technologies Inc. is an international healthcare technologies investor. The Company is engaged in developing a portfolio of profitable healthcare technology assets focused on those with global distribution potential and 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 certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements in this news release, other than statements of historical fact, including, without limitation, statements relating to the closing of the Second Round, the terms of the Second Round, the use of proceeds of the Second Round, the receipt of acceptance of the Second Round by the TSX Venture Exchange, and the plans and business of Principal are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Principals, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to close the Second Round on the terms announced or at all, and the ability of the Company to obtain acceptance by the TSX Venture Exchange. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Principal does not assume any obligation to update these forward-looking statements should they change, except as required by applicable securities laws.
CNA
3 days ago
- CNA
Dog owners, trainers could need a licence to use some animal training devices
Dog owners and trainers could need a licence to use certain types of animal training devices. This could include electronic shock collars. Authorities are assessing if laws are needed to regulate such devices that inflict pain on animals. An advisory has been launched to discourage their use. Eugene Chow has more.
Daily Express
4 days ago
- Business
- Daily Express
Portal is sued over allegation
Published on: Saturday, July 26, 2025 Published on: Sat, Jul 26, 2025 Text Size: SMM accused MalaysiaNow of publishing 'numerous allegations which are false, misleading, and defamatory' regarding the purported awarding of a Prospecting Licence (PL) to Bumi Suria, a company linked to prominent businessman and former political aide Datuk Farhash Wafa Salvador Rizal Mubarak. Kota Kinabalu: Sabah Mineral Management Sdn Bhd (SMM) has initiated legal proceedings against news portal MalaysiaNow over allegedly false and defamatory reports concerning the politically-linked company Bumi Suria Sdn Bhd. In a statement, SMM accused MalaysiaNow of publishing 'numerous allegations which are false, misleading, and defamatory' regarding the purported awarding of a Prospecting Licence (PL) to Bumi Suria, a company linked to prominent businessman and former political aide Datuk Farhash Wafa Salvador Rizal Mubarak. 'At no point in time did MalaysiaNow seek SMM's clarification prior to the publication. 'The publications were biased, one-sided, and represent a calculated attempt by MalaysiaNow to defame SMM, its directors, and officers,' SMM stated, adding that it would pursue legal action against any other media outlet that republishes the claims. The lawsuit comes after a series of articles and videos by MalaysiaNow suggesting that SMM had improperly awarded a prospecting licence to Bumi Suria for a 70,000-hectare forest reserve area in Kalabakan and Gunung Rara. SMM rebutted this, reiterating that it has no legal power to issue prospecting or mining licences. It stressed that this authority lies solely with the Sabah Department of Lands and Surveys (JTU) under the Sabah Mining Ordinance 1960. JTU Director Datuk Bernard Liew later confirmed that no mineral-related licence had ever been issued to Bumi Suria. Instead, SMM clarified that it had only issued a 'Conditional Letter of Permission to Apply for a Prospecting Licence' to Bumi Suria following internal board deliberations, stressing that this document did not amount to an approval or issuance of any licence. 'SMM's role is strictly limited to issuing conditional letters of permission to apply for a licence,' it said, adding that such a letter would only be issued after the agency's board of directors had convened to review the application. 'This letter does not confer or award any licence. Interested applicants must submit complete documentation and undergo due diligence by SMM before other related government agencies conduct further checks,' it said. The agency said it had, in the exercise of its functions, considered Bumi Suria's application and issued conditional approval for its application. 'Bumi Suria did not proceed to formally submit any of the required documents for an application,' it added. Consequently, on March 24, 2025, SMM issued an official letter revoking the permission to apply. 'These facts were maliciously omitted by MalaysiaNow,' the agency said. SMM also took issue with the use of a photo of its chief executive officer, Natasha Sim, and her name in connection with an audio recording that they claim does not feature her voice and is not associated with her. 'This deliberate act of misrepresentation is unacceptable and unethical,' it said. The issue has drawn public scrutiny, particularly as SMM has been embroiled in controversy since a series of leaked videos and audio recordings emerged, alleging corrupt practices in the awarding of licences and implicating several Sabah politicians. Two state assemblymen, Datuk Yusof Yaacob (Sindumin) and Datuk Andy Suryady Bandy (Tanjung Batu), are currently facing corruption charges over the scandal. Farhash, a former aide to PKR President Datuk Seri Anwar Ibrahim, has denied allegations that he owned Bumi Suria and that the company had been awarded a mineral prospecting or exploration licence. While confirming he is a director and shareholder, his lawyers have demanded the articles be removed. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Time of India
5 days ago
- Time of India
FIR after breach in contactless licence facility leads to 2 fraud cases
Lucknow: The transport department, which has recently implemented an online Aadhaar-based contactless Learner Licence (Faceless LL) system under which applicants can take their LL tests from the comfort of their homes, has ordered revocation or cancellation of two licences allegedly acquired fraudulently. A detailed investigation has revealed that an Artificial Intelligence (AI)-generated video was created using the applicant's Aadhaar photograph, face authentication and liveness tests (such as eye blinking, smiling) to illegally bypass the test stages for the document. The LL test violation report indicated abnormalities like "No Eye Blink Detected," confirming that the applicant himself was not present during the test. The case was reported in the Transgomti Office, Lucknow. In another case reported from Fatehpur, the learner licence had suspicious entries such as the applicant's name recorded as "froud sale" and the father's name as "payment mat kar asre". Taking strict action in both the cases, transport commissioner, Brajesh Narain Singh, has directed the immediate registration of FIRs against the respective cyber cafés, agencies, or individuals involved. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Beautiful Female Athletes in the World Learn More Undo A comprehensive report is being sent to NIC and MoRTH for immediate implementation of critical security measures and technological improvements in the Sarathi software system, including OTP login, face verification, enhanced liveness tests, IP tracking, and other necessary security measures to prevent future occurrences. Instructions have also been issued for detailed investigations and comprehensive security audits of learner licences previously issued through all offices of the transport department.
The Star
21-07-2025
- Business
- The Star
Sarawak to kick off reforms to make business registrations quicker, easier, Dr Sim announces
SIBU: The Sarawak government will launch a pilot project aiming to reform the business registration process in the state, beginning August 1, 2025, and until the end of February 2026. The initiative to make business registrations faster and easier will be trialled in the Sibu and Kanowit districts over a six-month period, Deputy Premier Datuk Amar Dr Sim Kui Hian announced. Speaking at a press conference on Monday (July 21), Dr Sim, who is also state Public Health, Housing and Local Government Minister, said the time required to register a business would be reduced from over 60 working days to between 14 and 30 working days. He emphasised that this reform is essential for boosting business activity in Sarawak and positioning the state as a more attractive and investor-friendly destination. The pilot project is intended to help Sarawak maintain its competitiveness as an investment hub, offering administrative efficiency, predictability in processes, and robust government support for the business community. Currently, registering a business in Sarawak involves multiple government departments and agencies — including the Inland Revenue Board (LHDN), district offices, divisional treasury departments, and local authorities — resulting in an often inefficient and time-consuming process, he explained. Under the new initiative, all business registrations — including Business Name Registration, Trade Licence, and Operating Licence applications — will be handled by a single agency: the local authorities in Sibu and Kanowit, through a one-stop facilitation centre. "Applicants will only need to complete a single form that captures all required information for Business Name Registration, Trade Licence, and Operating Licence applications," Dr Sim said. The pilot project targets a processing time of 14 working days — from application to licence collection — for low-risk businesses. 'For businesses requiring only a business name and trade licence, the licence can be collected within five working days,' he added. This timeline, however, applies only to applications that include all the necessary supporting documents and meet the required checklist criteria. Dr Sim also stressed that applications for high-risk businesses — such as those involving the sale of gas, entertainment centres, care centres for the elderly or children, and reflexology centres — will be processed within 30 working days, as these require input from multiple government agencies.
