04:28 PM EDT, 09/10/2024 (MT Newswires) -- Principal Technologies (PTEC.V) said Tuesday afternoon it received a conditional nod from the TSX Venture Exchange and is working to meet the final requirements for full approvals for its acquisition of Danish company Vivostat and resume trading in its shares.

The company said it completed a private placement needed to close the acquisition, issuing four-million units at $0.25 each, raising $1 million.

The Canadian-based healthcare acquisition firm is finalizing a 9-million euro loan with the GreenIslands Opportunities Fund to help fund the deal, which is set to close once the loan is secured.

The company added that it expects trading of its shares on the TSXV, halted since February, to resume around Thursday.

Vivostat is a Danish company that specializes in a unique self-made fibrin sealant solution used after surgery.