I have a valid 1-94 until January 31, 2015 and a few prospective employers I'm meeting with next week that may sponsor another VISA
Do I have to leave because I'm out of status ? or is being Canadian and having a valid I-94 allow me the privilege of staying here (without working of course).
Also what other visas can I apply for?
You need to change your status from L-1B to B-2 ASAP or depart the US and then re-enter as a Canadian as a visitor without a visa. You cannot remain here in L-1B status which you no longer enjoy/have and you are now out of status albeit your I-94 is stating until Jan 31, 2015 BUT you are no longer working for the L-1B US Employer. There is no grace period. Apply for a change of status to B-2 promptly to bridge your status while looking for a new employer who can sponsor you for a TN-1 Canadian or an H-1B "if" you qualify for an H-1B since you are on an L-1B and I don't know what your educational qualifications are, etc. Also, anytime you have been here in the US on the L-1B will count towards the maximum 6 years on an H-1B but on the TN-1 there is no limit.
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