Firan Technology Group Corporation confirms the resignation of

TORONTO, May 20, 2022 (GLOBE NEWSWIRE) — Firan Technology Group Corporation (TSX:FTG) (“GFT“or the”Company”) today announced the acceptance of the resignation of Mr. Kumail Gangjee.

After consideration and unsuccessful attempts to meet with shareholders who abstained from voting for Mr. Gangjee’s reappointment to the FTG Board of Directors this year, the board reluctantly accepted Mr. Gangjee’s resignation in accordance with the policy of our company which stipulates that a director who does not receive a vote in favor of his election representing the majority of the shares voted and retained for the election of the director will submit his resignation to the consideration of the corporate governance committee.

Mr. Gangjee conducted himself professionally, ethically and with the primary concerns of all stakeholders of the Company during his tenure. His actions were consistent with the values ​​and demands of the board and were well suited to meet the challenges of building a small business like ours. We wish him good luck. The Board strives to seek out the right people with the appropriate diversity and breadth to help guide the company into the future.

ABOUT FIRAN TECHNOLOGY GROUP CORPORATION

FTG is a supplier of aerospace and defense electronic products and subsystems to customers worldwide. FTG has two business 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 sectors. FTG Circuits has operations in Toronto, Ontario, Chatsworth, California, Fredericksburg, Virginia and a joint venture in Tianjin, China.

FTG Aerospace manufactures and services illuminated cockpit panels, keypads and sub-assemblies for aerospace and defense OEMs. FTG Aerospace has operations in Toronto, Ontario, Chatsworth, California and Tianjin, China.

The Company’s shares are traded on the Toronto Stock Exchange under the symbol FTG.

FORWARD-LOOKING STATEMENTS

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

For Fyouryouhis InotFohrmayouIon pIchsand sonotyouavsyou:

Bradley C. Bourne, President and CEO
Tel: (416) 299-4000 ext. 314
Ifra JechnohIohgy Group VSorporayouIon
[email protected]

Jamie Crichton, Vice President and Chief Financial Officer
Tel: (416) 299-4000 ext. 264
Ifra JechnohIohgy Group VSorporayouIon
[email protected]

Additional information can be found on the Company’s website www.ftgcorp.com

Luisa D. Fuller