The Company's CanPR app is an innovative technology platform that assists immigrants in their journey toward permanent residency in Canada
CanPR offers an end-to-end suite of pre and post-landing services, while the Company's SmartCV technology uses artificial intelligence and machine learning to match new immigrants with potential employers
The app has been downloaded 1M+ times, with 150k MAU and thousands of five star reviews across Google Play and Apple App stores
Toronto, Ontario--(Newsfile Corp. - June 27, 2024) - CanPR Technology Ltd. (TSXV: WPR) ("CanPR" or the "Company"), a leading technology-enabled immigration platform in Canada, is pleased to announce it will begin trading on the TSX Venture Exchange ("TSXV") today under the ticker WPR. This follows the closing ("Closing") of its previously announced transaction resulting in the reverse takeover (the "Transaction") of General Assembly Holdings Limited.
"There is a huge opportunity for CanPR to help solve the significant labour market inefficiencies borne from the combination of aging populations and declining birth rates," said CanPR Technology Ltd.'s Co-Founder and CEO Akshat Soni. "We provide the only technology solution that combines pre and post-landing services in one platform. Immigrants who want to relocate to Canada can complete permanent residency applications faster, identify and apply for jobs that match their education and experience through our recruitment tools, and obtain insurance coverage, banking and other services to help them settle in Canada - all through the CanPR app."
Large and Growing Market:
Immigration levels in Canada have been rising dramatically. More than one million new Canadians arrived in 2022 alone1. 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 500,0002.
There is additional labour pressure created by job 'mismatching'. From 2018 to 2023 only six per cent of study permits went to foreign students for health sciences, medicine or biological and biomedical sciences programs, while trades and vocational training programs accounted for 1.25 per cent despite acute shortages in these areas of the labour market3.
The immigration consulting services market was valued at USD $14.2B in 2022 and is anticipated to reach USD $21.1B by 2029, witnessing a CAGR of 5.73% during the forecast period 2023-20294.
• Canada currently has 11,324 domestic and 199 internationally regulated Canadian immigration consultants5. The CanPR app also works as a marketplace that connects end customers with immigration consultants.
Furthermore, few services exist to help new Canadians integrate successfully creating immigrant retention challenges. 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 staying6.
CanPR's Solution is Poised to Revolutionize this Market:
Comprehensive Ranking System and Provincial Nominee Program tools with predictive technology and online support: a step-by-step guide takes users through a clear path to improving applications for temporary and permanent residence visas.
Job Training: a portal with search functionality that connects employers with candidates to fill positions across Canada. This includes job application training and free HR consultation with reference checks that are verified on behalf of the applicant.
For employers, CanPR offers resume shortlisting, job applicant video biographies, background checks and artificial intelligence algorithms to help pinpoint candidates based on existing needs.
More than 100,000 members in interest-based community groups: newcomers can connect socially with each other and share mutual experiences which helps relieve loneliness and isolation when arriving in Canada.
Visit www.CanPR.io to learn more and follow CanPR on Facebook, Instagram, TikTok and YouTube.
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.
Currently, the platform has over 1,000,000 app installs. For more information on CanPR, visit www.canpr.io.
For more information contact:
CANPR Technology Ltd.
Akshat Soni
647-692-3846
akshat@canpr.io
Kieran Lawler
Kieran.lawler@loderockadvisors.com
416-303-0799
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains statements which constitute "forward-looking information" or "forward-looking statements" (together "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among key factors and risks that could cause actual results to differ materially from those projected in the forward-looking information may include, without limitation, the demand for immigration services; the cost of software development; changes in general economic conditions and financial markets; risks associated with technology companies, including but not limited to, cybersecurity risks and privacy risks; unanticipated costs or expenses; as well as those factors disclosed in the Company's Filing Statement publicly available under its profile at SEDAR+ at www.sedarplus.com. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended.
Forward-looking information contained herein are based on the assumptions, beliefs, expectations and opinions of management. Forward-looking information has been made as of the date hereof and the Company disclaims any obligation to updates any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
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1 Stats Can - 40 million strong: Canada reaches a new population milestone
2 Canada.ca: CIMM - Immigration Levels Plan for 2024-2026 - November 07, 2023
3 CBC: Canada's foreign student push 'mismatched' job market, data shows
4 Valuates Reports: Global Immigration Consulting Services Market Insights, Forecast to 2028
5 C.D. Howe Institute: May 2023 - Improving Canada's Immigration Consulting Industry
6 Conference Board of Canada: 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/214556
SOURCE: CanPR Technology Inc.
