Mr. Akshat Soni reports
CANPR TECHNOLOGY LTD. ANNOUNCES BOARD RESIGNATION AND PROVIDES CORPORATE UPDATE
Jay Wilgar has resigned from CanPR Technology Ltd.'s board of directors, as of June 22, 2026.
The board of directors and management would like to thank Mr. Wilgar for his valuable contributions and dedicated service during his tenure with the company. The company appreciates his guidance and wishes him continued success in his future endeavours.
Akshat Soni, chief executive officer of CanPR Technology, commented: "On behalf of the entire CanPR team, I would like to sincerely thank Jay for his commitment, professionalism and contributions to the company. His insight and support have been greatly appreciated during an important stage of our growth. We wish him every success in his future endeavours and look forward to seeing all that he accomplishes."
The company also wishes to provide shareholders with a corporate update regarding its non-brokered private placement of up to 17.15 million units at an offering price of 3.5 cents per unit for aggregate gross proceeds of up to $600,250, as previously disclosed by the company in the press release dated May 27, 2026. CanPR expects to close the offering in the near term, subject to customary closing conditions and applicable regulatory approvals.
The gross proceeds of the offering are expected to be used to accelerate the Company's strategic growth initiatives, including:
- Expansion of sales and marketing initiatives across Canada and key international markets;
- Enhancement of its employer marketplace and newcomer service ecosystem;
- Strategic business development initiatives, including partnerships and potential acquisitions;
- General working capital and corporate purposes.
Management believes the successful completion of the financing will further strengthen the company's balance sheet and provide additional capital to execute on its long-term growth strategy. None of the gross proceeds of the offering will be allocated toward payments to non-arm's-length parties or persons conducting investor relations activities (as each term is defined by the policies of the TSX Venture Exchange). Approximately 30 per cent of the gross proceeds of the offering will be allocated to general working capital and corporate purposes, with the remaining allocated to business development, sales and marketing efforts.
About CanPR Technology Ltd.
CanPR Technology is a technology platform dedicated to helping immigrants in their journey toward becoming permanent residents of Canada. At CanPR, it offers a range of services to assist with the immigration journey. Its platform provides a comprehensive understanding of the process of immigrating to Canada, completing and tracking immigration applications, connecting newcomers with employers to help them find a job, and offering postimmigration services to help them settle in Canada.
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