Toronto, Ontario--(Newsfile Corp. - October 5, 2026) - CanPR Technology Ltd. (TSXV: WPR) (the "Company") today announces certain updates regarding its previously filed audited consolidated financial statements for the fiscal year ended May 31, 2025 (the "2025 Financial Statements") and the trading status of its common shares.

Review of the Allowance for Doubtful Accounts

The Company previously received an unmodified audit opinion from Bassi & Karimjee LLP (the "Auditors") in connection with the 2025 Financial Statements, which were issued on September 26, 2025.

In light of the recent turnaround times on processing immigration files at the Ministry of Immigration, Refugees and Citizenship Canada (IRCC) and the impact on the ageing of the Company's accounts receivable, additional discussions and alternative procedures were performed by the Company and its Auditors on the 2025 account receivable balance.

Following the Company's review with its Audit Committee, management and the Auditors, the Company has now determined that it will make a provision against accounts receivable. This will be recorded in the fiscal year 2025 and that the resulting adjustment will be reflected through a restatement of the Company's fiscal 2025 financial statements.

Specifically, the Company and its Auditors have agreed that the previously reported financial statements require an adjustment to recognize an additional provision for doubtful accounts of $345,000. The adjustment will increase bad debt expense by $345,000, reduce accounts receivable by $345,000 and reduce net income and shareholders' equity by $345,000. No other adjustments to the previously reported financial statements have been identified.

The Company will present the 2025 Financial Statements together with its fiscal 2026 annual financial statements, subject to completion of the required audit and regulatory processes. The Company will also assess any consequential impact on subsequently filed interim financial statements.

Trading Status and MCTO Application

The Company previously applied to the Ontario Securities Commission (the "OSC") for a Management Cease Trade Order ("MCTO"), which would have restricted trading by the Company's directors, officers and management while permitting other shareholders to continue trading.

On September 28, 2026, OSC staff advised the Company that the MCTO application would not be approved, citing, among other considerations, its view regarding the liquidity of the Company's common shares.

Accordingly, the Company's common shares are now subject to an issuer cease trade order effective October 2, 2026. The cease trade order is expected to remain in effect until the Company's fiscal 2026 audited financial statements have been filed and the applicable regulatory requirements for revocation have been satisfied.

Management currently anticipates completing the fiscal 2026 audit and filing the related audited financial statements no later than the end of October 2026.

The Company has cooperated with its Auditors and the OSC throughout this process and will continue to provide updates as material developments occur.

About CanPR Technology Ltd.

CanPR Technology Ltd. is a technology platform dedicated to helping immigrants in their journey toward becoming permanent residents of Canada. At CanPR, we offer a range of services to assist with the immigration journey. Our 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 post-immigration services to help them settle in Canada. For more information on CanPR, visit www.canpr.io.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317460