Firan Technology Group Corporation ("FTG") Announces Results of AGM

TORONTO, April 20, 2022 (GLOBE NEWSWIRE) -- Firan Technology Group Corporation FTG today announced the results of its annual general meeting of shareholders ("AGM"), held via live audio webcast online and in virtual-only format on April 20, 2022.

There were 38 shareholders represented in person or by proxy at the AGM holding 16,187,419 Common Shares representing 66.09% of the Corporation's issued and outstanding Common Shares.

The detailed results of the vote for the election of directors of FTG are set out below.

As a result, the nominees for election as directors set out above were elected as directors of the Corporation to serve until the close of the next annual meeting of shareholders or until their successors are elected or appointed. In accordance with the Corporation's majority voting policy, Kumail Gangjee has tendered his resignation for consideration by the Corporate Governance Committee of the Board of Directors of the Corporation. The Committee will consider such resignation and the Board will notify shareholders of the outcome of such consideration in due course by press release, all in accordance with the Policy.

In addition, at the AGM, the shareholders also re-appointed MNP LLP, Chartered Professional Accountants, as the Corporation's auditor and authorized the directors to fix the auditor's remuneration. For more information on these matters, please refer to FTG's management information circular dated February 23, 2022, available on SEDAR at www.sedar.com.

ABOUT FIRAN TECHNOLOGY GROUP CORPORATION

FTG is an aerospace and defense electronics product and subsystem supplier to customers around the globe. FTG has two operating units:

FTG Circuits is a manufacturer of high technology, high reliability printed circuit boards. Our customers are leaders in the aviation, defense, and high technology industries. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia and a joint venture in Tianjin, China.

FTG Aerospace manufactures and repairs illuminated cockpit panels, keyboards and sub-assemblies for original equipment manufacturers of aerospace and defense equipment. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California and Tianjin, China.

The Corporation's shares are traded on the Toronto Stock Exchange under the symbol FTG.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements. These forward-looking statements are related to, but not limited to, FTG's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan", "will", "may" or similar words suggesting future outcomes. Such statements are based on the current expectations of management of the Corporation and inherently involve numerous risks and uncertainties, known and unknown, including economic factors and the Corporation's industry, generally. The preceding list is not exhaustive of all possible factors. Such forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements made by the Corporation. The reader is cautioned to consider these and other factors carefully when making decisions with respect to the Corporation and not place undue reliance on forward-looking statements. Other than as may be required by law, FTG disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For further information please contact:

Additional information can be found at the Corporation's website www.ftgcorp.com