Mr. Akshat Soni reports
CANPR TECHNOLOGY LTD. ANNOUNCES SHARES-FOR-DEBT SETTLEMENT
CanPR Technology Ltd. has entered into debt settlement agreements with Akshat Soni, chief executive officer and director of the company, and Rishi Mittal, president of the company, to settle an aggregate of $72,500 in indebtedness for a proposed issuance of an aggregate of 1.45 million common shares of the company at a deemed price of five cents per debt share, subject to the acceptance of the TSX Venture Exchange.
Mr. Soni is owed $57,500 in accrued salary and in satisfaction of such debt will be issued 1.15 million debt shares. Mr. Mittal is owed $15,000 in accrued salary and in satisfaction of such debt will be issued 300,000 debt shares.
The debt settlements with Mr. Soni and Mr. Mittal constitute related-party transactions within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the related-party transaction does not exceed 25 per cent of the company's market capitalization.
All debt shares issued pursuant to the debt settlement will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws. Completion of the debt settlements remains subject to acceptance by the TSX-V.
Option grant
The company also wishes to announce that it has granted a total of 1.28 million stock options to certain of its directors, officers and consultants pursuant to the company's stock option plan, effective Aug. 5, 2026.
Each option is exercisable into one common share of the company at an exercise price of five cents per common share. The options granted each vested on the date of grant. All options expire on Aug. 5, 2031, and are subject to applicable regulatory policies, including those of the TSX Venture Exchange.
About CanPR Technology Ltd.
CanPR 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 providing postimmigration services to help them settle in Canada.
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