MUMBAI, India, July 4, 2026 /PRNewswire/ — Protean eGov Technologies Limited, a pioneer in building Digital Public Infrastructure (DPI) and citizen-centric digital solutions, has signed a Memorandum of Understanding (MoU) with the North East Centre for Technology Application and Reach (NECTAR), an autonomous institution under the Department of Science & Technology, Government of India, to collaborate on advancing technology-led governance, digital innovation, and inclusive development initiatives across India, with a special focus on the North Eastern Region.

The strategic partnership brings together Protean’s nearly three decades of experience in designing and operating population-scale digital platforms with NECTAR’s expertise in technology applications, geospatial solutions, and regional development. Together, the two organisations will work towards developing scalable, technology-enabled solutions that strengthen governance, improve public service delivery, and address last-mile development challenges.

The MoU establishes a framework for identifying and implementing high-impact projects across areas such as digital governance, information and communication technologies (ICT), geospatial technologies, capacity building, and technology-enabled socio-economic development. The collaboration will also explore opportunities to design innovative digital solutions that can be scaled for wider public benefit.

By combining their complementary capabilities, Protean and NECTAR aim to accelerate the adoption of emerging technologies that improve citizen outcomes, strengthen institutional capacity, and contribute to sustainable and inclusive development. The partnership reflects a shared commitment to leveraging technology for public good while supporting the digital transformation agenda of the country, particularly in the North Eastern Region.

Commenting on the partnership, Rakesh Dosi, Chief Business & Product Officer, Protean eGov Technologies Limited, said: “For nearly three decades, Protean has been building population-scale digital infrastructure that enables governments to deliver trusted and inclusive citizen services at scale. We are delighted to partner with NECTAR to support the Northeastern Region’s digital transformation journey. By combining our strengths, we aim to create scalable technology solutions that strengthen governance, accelerate socio-economic development, and contribute meaningfully to the region’s growth as well as India’s broader digital development agenda.”

Commenting on the collaboration, Dr. Arun Kumar Sarma, Director General, NECTAR, said: “The Northeastern Region presents immense opportunities for technology-led growth and innovation. Our partnership with Protean brings together strong regional expertise and proven capabilities in building Digital Public Infrastructure at scale. Together, we look forward to developing impactful digital solutions that enhance governance, improve citizen outcomes, and accelerate inclusive development across the region.”

The partnership underscores the shared vision of Protean eGov Technologies and NECTAR to harness technology as a catalyst for inclusive growth, stronger governance, and sustainable development, creating long-term value for citizens and contributing to India’s digital transformation journey.

About Protean eGov Technologies Ltd

Over the past 30 years, Protean eGov Technologies Ltd has been at the forefront of building population-scale DPIs across taxation, identity services and social security. Aligned with India’s visionary DPI framework built on open standards and protocols, the company continues to contribute towards multisectoral Open Digital Ecosystems across e-commerce, transport/mobility, agriculture, education & skilling, and health. Protean has evolved from being a system integrator into a high tech, agile product organisation, instrumental in powering enterprise digitization by offering consumer and corporate tech, along with infrastructure services in cloud and cybersecurity. With a deep-rooted focus on innovation and open digital ecosystems, the company remains a key enabler in the country’s ongoing digital transformation.

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Homegrown streetwear label crosses ₹10 crore in revenue in FY26, recording 400% year-on-year growth driven by strong customer loyalty, category growth, and rising demand for premium everyday fashion.

PUNE, INDIA, July 4, 2026 /PRNewswire/ — Homegrown streetwear brand Underrated Club has reported a 400% year-on-year (YoY) growth in FY26, with revenue increasing from ₹2 crore in FY25 to more than ₹10 crore in FY26. The milestone marks a major year for the brand, which has steadily built a loyal customer base by focusing on quality products, comfortable fits, and accessible premium fashion.

What started as a young streetwear label has grown into a brand known for its oversized t-shirts, denim, cargos, and everyday essentials. The company recorded an average order value of ₹2,500 in FY26, showing that consumers are increasingly willing to invest in products that combine quality, style, and long-term wearability.

Customer loyalty has been one of the biggest drivers behind this growth. Around 30% of customers return to shop with the brand again, with many making repeat purchases across different categories. The company believes its focus on product quality, fit, and consistency has helped build that trust and encouraged customers to come back.

Quick commerce also emerged as an important growth channel for the business, contributing nearly 35% of growth in FY26. As shopping habits continue to change, customers are increasingly looking for convenience and faster access to their favourite products. The company sees this shift as an opportunity to reach consumers in a way that fits naturally into their everyday lives.

Among all categories, denim, oversized t-shirts, and cargos stood out as the strongest performers during the year. Premium denim, especially relaxed and baggy fits, has become one of the brand’s biggest success stories. The growing popularity of these styles reflects a larger shift in how young consumers are dressing today, with comfort and versatility becoming just as important as style.

Growth was led by Hyderabad, Mumbai, Bengaluru, and Pune, highlighting strong demand from both metro and emerging urban markets. While Mumbai, Bengaluru, and Hyderabad continue to be important fashion hubs, cities like Pune are also seeing a growing appetite for premium streetwear and digitally native fashion brands. The trend signals that demand for homegrown labels is no longer limited to a few major cities and is steadily expanding across the country.

Commenting on the milestone, Abhishek Teri, Founder of Underrated Club, said:

“We started Underrated Club with a simple idea: create products that people genuinely enjoy wearing and can come back to again and again. Seeing customers trust the brand, return for another purchase, and recommend us to others has been incredibly rewarding. Achieving 400% year-on-year growth and crossing ₹10 crore in revenue is a huge milestone for us, but more than the numbers, it shows that there is a growing community that connects with what we’re building.”

India’s fashion industry has seen a noticeable rise in homegrown D2C brands over the last few years. Consumers today are more open to discovering new labels that offer quality, originality, and value. Streetwear, in particular, continues to attract young shoppers who are looking for clothing that feels personal and fits naturally into their lifestyle.

For Underrated Club, the focus remains on building for the long term. The company plans to continue strengthening its product categories, improving accessibility, and expanding its reach while staying committed to the quality and customer experience that have shaped its growth so far.

What began as a small homegrown streetwear label has grown into a ₹10 crore business in just a few years. And with strong customer retention, category momentum, and growing demand across India’s urban markets, Underrated Club is proving that sometimes the brands nobody sees coming are the ones that make the biggest impact.

About Underrated Club

Underrated Club is a homegrown Indian streetwear brand built around quality, comfort, and everyday style. Known for its oversized essentials, shirts, cargos, denim, and modern streetwear staples, the brand creates clothing designed for real life. Every piece is made with a focus on strong fits, dependable fabrics, and long-term wearability. With a growing community across India, Underrated Club continues to make premium fashion more accessible while staying true to quality, comfort, and thoughtful design.

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CALGARY, AB, July 3, 2026 /CNW/ – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN) today announced that, further to its news release dated June 25, 2026 announcing the entering into of a share purchase agreement (the “Galaxy Transaction”) to sell all of the issued and outstanding shares (the “Galaxy Shares”) of its subsidiary, Galaxy Broadband Communications Inc. to Calian Group Ltd. (TSX: CGY) (“Calian”), it will seek approval of the holders (the “Debentureholders”) of the Corporation’s 12% Secured Subordinated Debentures (TSX: CRWN.NT) due December 31, 2026 (the “Debentures”) for a resolution (the “Debentureholder Resolution”) at a meeting of the Debentureholders to be held at the offices of the Corporation, 121 King Street West, Suite 840, Toronto, Ontario, on August 11, 2026 at 10:00 a.m. (Eastern Time) (the “Meeting”).

If approved by the Debentureholders at the Meeting, the Debentureholder Resolution would:

authorize and approve certain amendments (the “Debenture Amendments”) to the Corporation’s second amended and restated trust indenture dated October 25, 2024 (the “Indenture”) between the Corporation and TSX Trust Company (the “Debenture Trustee”) and authorize the Debenture Trustee to enter into a third amended and restated trust indenture with the Corporation (the “Amended and Restated Indenture”) to: 

(i)      permit the Corporation to complete the Galaxy Transaction free of the security interest created by the Indenture notwithstanding that the sale of the Galaxy Shares to Calian would be a sale of assets of the Corporation not in the ordinary course of business of the Corporation and, accordingly, not permitted under the Indenture;
(ii)      extend the maturity date of the Debentures from December 31, 2026 to December 31, 2027;
(iii)     grant the Corporation the option to further extend the maturity date of the Debentures for up to one year to December 31, 2028, provided that: (A) the Corporation pays all outstanding interest on the Debentures as at December 31, 2027; (B) the Corporation pays a fee of 0.1% of the principal amount of the Debentures to the Debentureholders for each month that the maturity date of the Debentures is extended, such fee to be paid concurrently with the interest due on the Debentures as at December 31, 2027; and (C) such option is exercised at least 30 days prior to December 31, 2027 and may only be exercised once;
(iv)     amend the interest payment dates from occurring annually on December 31 of each year to only at maturity or redemption of the Debentures;
(v)      prohibit the Corporation from paying any dividends on the common shares of the Corporation (“Common Shares”) or acquiring any Common Shares by way of an issuer bid while any Debentures remain outstanding;
(vi)     eliminate the ability of the Corporation to incur Senior Indebtedness (as defined in the Amended and Restated Indenture) following the repayment of the senior indebtedness of the Corporation to Sandton Investments IX (Luxembourg) S.A.R.L. (the “Sandton Indebtedness”) and the redemption of the $1,500,000 principal amount of unlisted debentures of the Corporation (the “2025 Debentures”), other than up to $1,000,000 of Senior Indebtedness to be used for general corporate purposes;
(vii)    remove the requirement that the Corporation use its best efforts to maintain the listing of the Common Shares and the Debentures on the Toronto Stock Exchange (“TSX”); and
(viii)   eliminate the ability of the Corporation to satisfy interest obligations by issuing and selling its shares through investment bankers under the Indenture; and

waive the default by the Corporation under the Indenture for the failure to pay the outstanding interest on the Debentures from June 30, 2024 to December 31, 2025 (the “Deferred Interest Payment”) on December 31, 2025 (the “Default Waiver”), subject to the requirement that the Corporation pay: (a) the Deferred Interest Payment; and (b) interest on the Debentures from January 1, 2026 to June 30, 2026 (the “June 2026 Interest Payment”), to Debentureholders within 30 days of the completion of the Galaxy Transaction (the “Deferred Interest Payment Deadline”). The Deferred Interest Payment and the June 2026 Interest Payment will be made to Debentureholders holding Debentures as of a record date to be set by the Corporation following the effective date of the Debenture Amendments. In the event that the Deferred Interest Payment is not made by the Deferred Interest Payment Deadline, the Default Waiver will be of no further force or effect.

The board of directors of the Corporation believe that the Debenture Amendments and Default Waiver provide the following advantages:

Completion of Galaxy Transaction: The Debenture Amendments will allow the Corporation to complete the Galaxy Transaction. Without the Debenture Amendments, the Corporation will not be able to complete the Galaxy Transaction.Payment of the Deferred Interest Payment and the June 2026 Interest Payment: If the Galaxy Transaction is completed, the Debentureholders will receive: (a) the Deferred Interest Payment, which will be approximately $161.82 per $1,000 principal amount of Debentures; and (b) the June 2026 Interest Payment, which will be approximately $60.00 per $1,000 principal amount of Debentures.Payment of Sandton Indebtedness: If the Galaxy Transaction is completed, a large portion of the net proceeds from the Galaxy Transaction will be used to repay the entire amount of the Sandton Indebtedness. This will significantly reduce the amount of the Corporation’s debt that ranks in priority to the Debentures.Redemption of 2025 Debentures: If the Galaxy Transaction is completed, a portion of the net proceeds from the Galaxy Transaction will be used to redeem the 2025 Debentures in accordance with their terms. This will further reduce the amount of the Corporation’s debt that ranks in priority to the Debentures.Elimination of Senior Indebtedness: If the Galaxy Transaction is completed, following the repayment of the Sandton Indebtedness and the redemption of the 2025 Debentures, the Corporation will no longer have any Senior Indebtedness ranking in priority to the Debentures. The Debenture Amendments will prohibit the Corporation from incurring any additional Senior Indebtedness in excess of $1,000,000. This will greatly improve the relative security position of the Debentures.Extension of Maturity Date: The extension of the maturity date, and the option granted to the Corporation to extend the maturity date for an additional year, will afford Debentureholders a longer period of time during which to receive interest at a favourable rate and to potentially receive a fee of 0.1% for each month that the maturity date of the Debentures is extended past December 31, 2027. The extension of the maturity date will also provide the Corporation with additional time to fund the repayment of the Debentures from the proceeds of asset sales or otherwise.Prohibition of Dividends and Issuer Bids: The removal of the ability of the Corporation to pay dividends on the Common Shares or undertake any issuer bids for Common Shares while any Debentures remain outstanding provides significant incentive for the Corporation to repay the Debentures and ensures that holders of Common Shares will not receive preferential treatment over holders of Debentures.

The effective date of the Debenture Amendments will be the later of: (a) a minimum of five trading days following the approval of the Debentureholder Resolution; and (b) immediately prior to the closing of the Galaxy Transaction once all conditions precedent to the closing of the Galaxy Transaction have been satisfied or waived, other than the release of funds and those relating to the Debenture Amendments. Further particulars of the expected benefits of the Debenture Amendments and Default Waiver are described in the management information circular of the Corporation relating to the Meeting (the “Circular”) and the related meeting materials, which will be made available under the Corporation’s profile on SEDAR+ at www.sedarplus.ca and mailed to the Debentureholders in the coming days.

The Debentureholder Resolution will only be effective if passed by an extraordinary resolution of the holders of at least 66 ⅔% of the principal amount of the Debentures present in person or by proxy at the Meeting and entitled to vote in respect of the Debentureholder Resolution. Management recommends that Debentureholders vote in favor of the Debentureholder Resolution.

The TSX has conditionally approved the Debenture Amendments. The Debenture Amendments remain subject to the final approval of the TSX.

Debentureholders may vote on or before 10:00 a.m. (Eastern Time) on August 7, 2026 by following the voting instructions set out in the Circular. Only Debentureholders of record at the close of business on July 8, 2026 will be entitled to vote at the Meeting.

FORWARD-LOOKING STATEMENTS

This news release contains certain “forward looking statements” and certain “forward looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management’s beliefs, expectations or intentions regarding the Debenture Amendments, the Default Waiver, the expected timing and completion of the Galaxy Transaction, the use of proceeds of the Galaxy Transaction, the anticipated payment of the Deferred Interest Payment and the June 2026 Interest Payment, the benefits of the Debenture Amendments and the Default Waiver and the receipt of Debentureholder approval. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown’s periodic filings with Canadian securities regulators. See Crown’s most recent annual information form for a detailed discussion of the risk factors affecting Crown. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE Crown Capital Partners Inc.