Toronto, Ontario--(Newsfile Corp. - July 13, 2026) - CanPR Technology Ltd. (TSXV: WPR) (the "Company" or "CanPR") is pleased to announce that it has closed the non-brokered private placement (the "Offering"), as previously announced on May 27, 2026 and June 29, 2026.
The Company raised $411,684.95 from the sale of 11,762,427 units (each, a "Unit") at $0.035 per Unit. Each Unit is comprised of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Unit Warrant"). Each Unit Warrant entitles the holder to purchase one Common Share for $0.06 per Common Share until July 13, 2027. The Unit Warrants are non-transferable. All securities are subject to a four-month hold expiring on November 14, 2026. The Company did not pay any finders' fees on the sale of the Units.
A director of the Company purchased or acquired direction and control over a total of 5,714,285 Units under the private placement. The placement to this person constitutes a "related party transaction" within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") adopted in the Policy. The Company has relied on exemptions from the formal 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 with respect to related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of the transaction, nor the fair market value of the consideration for the transaction, insofar as it involved the related party, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).
None of the gross proceeds of the Offering will be allocated towards 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% 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.
Early Warning Report
Immediately prior to this Offering, Mr. Steve Kaszas, Chairman of the Company, owned, directly and indirectly, and had control and direction 205,000 Common Shares, representing approximately 0.5% of the then issued and outstanding Common Shares of the Company. Following the closing of the Offering, Mr. Kaszas now beneficially owns, directly and indirectly, and has control and direction over 5,719,285 Common Shares and 5,714,285 Warrants representing approximately 11.36% (18.22% on a partially diluted basis) of the issued and outstanding Common Shares of the Company. The change in ownership arose as a result of the Offering. Mr. Kaszas will review his holdings from time to time and may, in the future, increase or decrease ownership or control over securities of the Company.