It would perhaps be better to address that question to Transport Canada as the regulator of these systems. There are multiple countries involved. For now, ICAO, the International Civil Aviation Organization, is continuing to support the use of ELTs.
That being said, absolutely there is new technology on the horizon, but the question is, as that technology may initially be restricted to large aircraft that can afford it, how do we preserve the ability to capture the small aircraft, which may not be able to afford this kind of technology for years to come? In fact, some older aircraft may not even be able to be equipped with it.