Pardus Ventures Inc. Completes Qualifying Transaction with EGL Technology Holdings Company Limited and Changes Name to “EGL Technology Inc.”

Vancouver, British Columbia–(Newsfile Corp. – July 29, 2026) – EGL Technology Inc., formerly known as Pardus Ventures Inc. (TSXV: PDVN.P) (the “Resulting Issuer“), is pleased to announce that it has completed its previously announced Qualifying Transaction, as defined under TSX Venture Exchange (“TSXV“) Policy 2.4 – Capital Pool Companies, with EGL Technology Holdings Company Limited (“EGL Holdings“) and the shareholders of EGL Holdings (the “EGL Holdings Shareholders“) (the “Transaction“).

As part of the Transaction, the Resulting Issuer completed three tranches of a non-brokered private placement (the “Offering“) of an aggregate of 41,380,000 subscription receipts (“Subscription Receipts“) for total gross proceeds of approximately $2,069,000.

At closing of the Transaction (the “Closing“), the Subscription Receipts issued by the Resulting Issuer on December 9, 2025 (first tranche), March 13, 2026 (second tranche) and May 20, 2026 (third tranche) pursuant to its Offering were automatically converted into common shares in the capital of the Resulting Issuer (the “Resulting Issuer Shares“).

In connection with the Transaction, the Resulting Issuer changed its name from “Pardus Ventures Inc.” to “EGL Technology Inc.”. The Resulting Issuer Shares are expected to commence trading on the TSXV under the symbol “EGLT” on or about August 6, 2026, subject to the issuance of the final bulletin of the TSXV in respect of the Transaction. The new CUSIP and ISIN for the Resulting Issuer Shares are 26848E100 and CA26848E1007, respectively.

Qualifying Transaction

The Resulting Issuer completed the Transaction pursuant to the terms and conditions of a share exchange agreement dated November 6, 2025, as amended on June 24, 2026 (the “Share Exchange Agreement“) among the Resulting Issuer, EGL Holdings, and the EGL Holdings Shareholders, pursuant to which the Resulting Issuer acquired all of the outstanding common shares in the capital stock of EGL Holdings in exchange for an aggregate of 288,000,000 Resulting Issuer Shares issued to the EGL Holdings Shareholders, distributed on a pro rata basis according to each EGL Holdings Shareholder’s holdings in EGL Holdings.

In connection with the Closing, the Resulting Issuer entered into an escrow agreement (the “Escrow Agreement“) with Computershare Investor Services Inc. (“Computershare“) and certain EGL Holdings Shareholders as required by the policies of the TSXV, pursuant to which an aggregate of 259,200,000 Resulting Issuer Shares issued to certain Insiders (as defined under TSXV Policy 1.1 – Interpretation) of EGL Holdings prior to the Transaction were placed in escrow.

In addition, an aggregate of 28,800,000 Resulting Issuer Shares issued to certain former EGL Holdings Shareholders in exchange for their common shares of EGL Holdings pursuant to the Transaction are subject to Seed Share Resale Restrictions (“SSRR“) as defined under TSXV Policy 5.4 – Capital Structure, Escrow and Resale Restrictions and subject to a one-year hold, with 20% released every three months with the first release on the date of the bulletin issued by the TSXV following the completion of the Transaction.

The Resulting Issuer notes that the Filing Statement incorrectly described the number and percentage of Resulting Issuer Shares subject to SSRR. The correct disclosure is that 25,920,000 Resulting Issuer Shares, representing approximately 7.78% of the issued and outstanding Resulting Issuer Shares, are subject to SSRR, and 2,880,000 Resulting Issuer Shares, representing approximately 0.86% of the issued and outstanding Resulting Issuer Shares, are subject to SSRR.

For additional information regarding the Transaction, please refer to the Resulting Issuer’s Filing Statement dated July 10, 2026 (the “Filing Statement“), which is available under the Resulting Issuer’s profile on SEDAR+ at www.sedarplus.ca. Further, copies of the Share Exchange Agreement and Escrow Agreement are also available under the Resulting Issuer’s profile on SEDAR+.

Offering

On December 9, 2025, the Resulting Issuer closed its first tranche of the Offering by issuing 30,000,000 Subscription Receipts at a price of $0.05 per Subscription Receipt for gross proceeds of $1,500,000.

On March 13, 2026, the Resulting Issuer closed its second tranche of the Offering by issuing 10,000,000 Subscription Receipts at a price of $0.05 per Subscription Receipt for gross proceeds of $500,000.

On May 20, 2026, the Resulting Issuer closed its third and final tranche of the Offering by issuing 1,380,000 Subscription Receipts at a price of $0.05 per Subscription Receipt for gross proceeds of $69,000.

In connection with the Offering, the Resulting Issuer paid to certain finders a cash commission equal to 5.0% of the gross proceeds raised from subscriptions in the Offering from persons introduced to the Resulting Issuer by the finders (the “Finders’ Fee“). The Finders’ Fee (in the amount of $73,800) was deposited in escrow with Computershare and released to the finders upon satisfaction and/or waiver of certain escrow release conditions pursuant to the subscription receipt agreement dated June 13, 2025, as amended by the first supplemental subscription receipt indenture dated November 11, 2025 and the second supplemental subscription receipt indenture dated May 15, 2026.

The net proceeds of the Offering will be used to pay for remaining estimated costs of the Transaction, to purchase Smart Lockers, to recruit talent and professionals, for research and development of Smart Box and Smartlocker System technology, and to pay for general and administrative costs associated with the operations of a public company. After payment of applicable costs of the Transaction and the Offering, the Resulting Issuer expects to have remaining available funds of approximately $1,302,605. The Resulting Issuer currently expects to use such remaining available funds as follows:

Use of Funds	Year 1 ($)
Purchase of Smart Boxes	495,164
Recruitment of Talent and Professionals	200,000
Research and Development of Smart Box and Smartlocker System Technology	100,000
General and Administrative costs associated with the operations of a public company	360,000
Unallocated working capital	147,441
Total:	1,302,605

Directors, Officer and Insiders of the Company

In connection with the Closing, Herrick Lau resigned as a director and as the Chief Executive Officer (“CEO“) of the Resulting Issuer. Following such resignation, Ngai-Man Leung (Executive Chairman), Nicole Qiao, and Queenie Kuang were appointed as directors of the Resulting Issuer while Kar Fai Leung and Jackie Kai Yat Lee remained as directors of the Resulting Issuer. In addition, Ms. Qiao was appointed as the President and CEO of the Resulting Issuer, while Mr. Lau remains as CFO and Corporate Secretary of the Resulting Issuer.

Mr. Ngai-Man Leung holds directly more than 10% of the Resulting Issuer Shares with 230,400,000 Resulting Issuer Shares representing 69.11% of the total issued and outstanding Resulting Issuer Shares.

For additional information regarding the directors and officers, please refer to the Filing Statement as well as the Resulting Issuer’s news releases dated November 6, 2025 and June 6, 2025, which are available under the Resulting Issuer’s profile on SEDAR+.

Capitalization of the Company

Following the completion of the Transaction, 333,380,000 Resulting Issuer Shares were issued and outstanding, and are held as follows:

• 4,000,000 Resulting Issuer Shares (1.20%) held by the shareholders of Pardus Ventures Inc.;
• 288,000,000 Resulting Issuer Shares (86.39%) issued to the former EGL Holdings Shareholders pursuant to the Transaction; and
• 41,380,000 Resulting Issuer Shares (12.41%) held by the former holders of Subscription Receipts.

Early Warning Disclosure

Pursuant to the Transaction, Mr. Ngai-Man Leung acquired 230,400,000 Resulting Issuer Shares, in exchange for his common shares of EGL Holdings, representing approximately 69.11% of the issued and outstanding Resulting Issuer Shares immediately following completion of the Transaction. Prior to completion of the Transaction, Mr. Ngai-Man Leung did not beneficially own, or exercise control or direction over, any Resulting Issuer Shares. As a result of the Transaction, Mr. Ngai-Man Leung has become a control person of the Resulting Issuer.

Mr. Ngai-Man Leung acquired the Resulting Issuer Shares for investment purposes and intends to review his investment in the Resulting Issuer on a continuing basis. Depending upon a number of factors, including market and other conditions, Mr. Ngai-Man Leung may from time to time increase or decrease his ownership, control, direction or economic exposure over securities of the Resulting Issuer.

This news release is being issued pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report containing additional information with respect to the foregoing acquisition will be filed under the Resulting Issuer’s profile on SEDAR+ at www.sedarplus.ca.

About EGL Technology Inc.

Through its subsidiary, Easy Growth Logtech Company Limited, EGL Technology Inc. provides smart locker solutions and related last-mile delivery services in Vietnam. EGL’s business includes the ownership and operation of smart locker systems and related technology used in connection with parcel distribution, smart lockers and retail logistics. EGL Technology Inc. has also established EGL Smart Logitech (Canada) Inc. in connection with potential business opportunities in Canada.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States.

Disclaimer for Forward-Looking Information

Certain statements in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking includes, but is not limited to, statements regarding the expected commencement of trading of the Resulting Issuer Shares on the TSXV, the issuance of the final bulletin of the TSXV, the release of Resulting Issuer Shares from escrow or resale restrictions, the expected use of proceeds of the Offering and the business plans of the Resulting Issuer. Forward looking information is based on the current expectations, estimates and assumptions of management as of the date of this news release and is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the issuance of the final bulletin of the TSXV, the timing of the commencement of trading, the use of proceeds, the Resulting Issuer’s business plans and general economic, business and market conditions. Readers are cautioned not to place undue reliance on forward-looking information. Except as required by applicable law, the Resulting Issuer undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Neither the 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.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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