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the_lion said:
BTW, Express Entry closed for 2015 is absolute BS ! I dont read it anywhere.
which means its good news for all of us. Relax CodeGuru, everything will be fine

While EE for 2015 isn't closed with high confidence, this system granted CIC authority to effectively close a stream for the year without telling anybody. All they do is just stop drawing people.

In the past if they close a stream and not promptly let the public know, it could cause large responses in public opinion and in cases, lawsuits. (See CEC 2014)
 
Yes you can easily extend your work permit after your passport is renewed.
I had same issue, qualified for 3 year permit but my passport was about to expiry so they only gave me 1 year. Then i renewed my passport and reapplied for extension. Just attach a latter of explanation saying that you were suppose to get 3 year post graduate work permit but because your passport expired , you only got 2 and ask them to extend it. You just need to pay fee again but overall its not an issue to extend it
How early is a safe period to apply before passport expiry?