Immigration Services Leader CanPR Technology Inc. Enters into Letter of Intent with General Assembly for Reverse Takeover and Change of Business Transaction
Proven technology platform creates full journey immigration solutions with pre and post-landing services
CanPR's SmartCV™ uses artificial intelligence and machine learning to match employers with prospects
CanPR app downloaded 800,000+ times in under a year
Toronto, Ontario--(Newsfile Corp. - November 30, 2023) - CanPR Technology Inc. ("CanPR"), a leading provider of technology-enabled immigration services in Canada, is pleased to announce it has entered into a letter of intent dated November 20, 2023 with General Assembly Holdings Limited (TSXV: GA) ("GA Pizza") pursuant to which GA Pizza proposes to acquire all of the issued and outstanding shares of CanPR by way of a reverse takeover transaction (the "Proposed Transaction"). On closing of the Proposed Transaction, shareholders of CanPR will own 90.9% of GA Pizza and the resulting entity will continue the business of CanPR as a company listed on the TSX Venture Exchange.
"This is an exciting moment for CanPR as we broaden access to capital to fuel our continued growth," said Co-Founder and CEO Akshat Soni. "While our journey is just beginning, we see tremendous opportunity to disrupt the immigration industry by offering technology-enabled solutions that streamline the process, and help new Canadians arrive quickly and set roots by providing access to employment opportunities, housing and other important socioeconomic outcomes. Our objective is to improve the immigration process, and then support immigrants in their transition to a new life in Canada."
Rising Immigration in Canada:
Immigration levels in Canada have been rising dramatically. More than one million new Canadians arrived in 2022 alone2. The government of Canada is also maintaining its target of 485,000 permanent residents for 2024, with another 500,000 in 2025. Starting in 2026, the government will stabilize permanent resident levels at 500,0003.
However, the current application process for temporary and permanent residency is cumbersome and expensive, and few services exist to help new Canadians integrate successfully. According to a report by the Conference Board of Canada, recent cohorts of immigrants are leaving Canada because they may not see the benefits of staying4. CanPR has been developed to help bridge this divide and increase immigration retention.
Visit www.CanPR.io to learn more and follow CanPR on Facebook, Instagram, TikTok and YouTube.
About CanPR
CanPR Technology Inc. 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.
Currently, the platform has over 800,000 app installs. CanPR was incorporated pursuant to the Canada Business Corporations Act on June 20, 2022. For more information on CanPR, visit www.canpr.io.
For more information contact:
Kieran Lawler
Kieran.lawler@loderockadvisors.com
416-303-0799
2 Statistics Canada 40 million strong: Canada reaches a new population milestone
3 Stabilizing Canada's immigration targets to support sustainable growth
4 The Leaky Bucket: A study of immigration retention trends in Canada: October 31, 2023
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189192
