Pardus Ventures Inc. Announces Closing Of Third Tranche Of Previously Announced Subscription Receipt Financing

(MENAFN- Newsfile Corp) Pardus Ventures Inc. Announces Closing of Third Tranche of Previously Announced Subscription Receipt Financing

May 21, 2026 7:30 AM EDT | Source: Pardus Ventures Inc.

Vancouver, British Columbia--(Newsfile Corp. - May 21, 2026) - Pardus Ventures Inc. (TSXV: PDVN.P) (" Pardus " or the " Company ") is pleased to announce that, further to its news releases dated March 13, 2026, December 10, 2025, November 6, 2025, June 6, 2025, April 4, 2025, March 6, 2025, Pardus has closed the third tranche of its non-brokered private placement (the " Offering ") of subscription receipts (the " Subscription Receipts "), by issuing 1,380,000 Subscription Receipts for gross proceeds of $69,000. Together with the gross proceeds of $1,500,000 from the first tranche of the Offering which closed on December 9, 2025, and $500,000 from the second tranche of the Offering which closed on March 13, 2026, Pardus has raised an aggregate of $2,069,000 by issuing an aggregate of 41,380,000 Subscription Receipts.

The Subscription Receipts issued under the Offering, including the Pardus common shares that may be issued on the conversion of the Subscription Receipts, are subject to a hold period expiring on September 21, 2026.

The Offering was conducted in connection with, and as a condition to the closing of, Pardus' proposed acquisition (the " Transaction ") of all the issued and outstanding common shares of EGL Technology Holdings Co. Ltd. (" EGL Holdings "), which is expected to constitute Pardus' qualifying transaction under TSX Venture Exchange (" TSXV ") Policy 2.4 - Capital Pool Companies. Upon completion of the Transaction, the combined entity (the " Resulting Issuer ") will be renamed to a name agreed to by Pardus and EGL Holdings and will focus on advancing EGL Holdings' business as a leading smart locker solutions provider and operator based in Vietnam.

All dollar figures in this release are Canadian dollars.

Additional Information

For additional information relating to the terms of the Transaction, please refer to the Share Exchange Agreement dated November 6, 2025, and the news releases dated March 13, 2026, December 10, 2025, November 6, 2025, June 6, 2025, April 4, 2025, March 6, 2025, each of which is available on SEDAR+ ( ) under Pardus' issuer profile. In addition, more information relating to the Transaction and the Resulting Issuer will be available in the filing statement to be filed in due course on SEDAR+ ( ) under Pardus' issuer profile.

Cautionary Statements

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable pursuant to TSXV requirements, shareholder approval. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release.

On behalf of Pardus Ventures Inc.

Herrick Lau, CEO, CFO, Corporate Secretary, and Director

MENAFN21052026004218003983ID1111150051