Family class sponsorship and renuciation of Canadian citizenship

I'm a Canadian citizen by birth and both of my parents are Canadian citizens. I am wondering, if I renounce my Canadian citizenship , and take up another country's citizenship, can I be allowed back into Canada for permanent residency under family class sponsorship ?

I have read on the immigration site that I would have to be admitted for permanent residency under the regular channels like all foreigners. In this case , would my only options be skilled immigration or business class immigration ?

I plan to become a naturalised citizen of another country but they require me to renounce my Canadian citizenship before the application is approved. Citizens of that country may acquire a foreign nationality without losing their current nationality but foreign nationals that wish to be naturalised must renounce their citizenship before they can be granted a citizenship.

I know that it is not guaranteed that I can be approved for permanent residence after I renounce my citizenship but will they accept my application for permanent residency under family class immigration ?