In this study, we present the Diverse Holding and Release Mechanism Can Satellite (DHRM CanSat) platform developed by the Space Technology Synthesis Laboratory (STSL) at Chosun University, South Korea. This platform focuses on several types of holding and release mechanisms (HRMs) for application in deployable appendages of nanosatellites. The objectives of the DHRM CanSat mission are to demonstrate the design effectiveness and functionality of the three newly proposed HRMs based on the burn wire triggering method, i.e., the pogo pin-type HRM, separation nut-type HRM, and Velcro tape-type HRM, which were implemented on deployable dummy solar panels of the CanSat. The proposed mechanisms have many advantages, including a high holding capability, simultaneous constraints in multi-plane directions, and simplicity of handling. Additionally, each mechanism has distinctive features, such as spring-loaded pins to initiate deployment, a plate with a thread as a nut for a high holding capability, and a hook and loop fastener for easy access to subsystems of the satellite without releasing the holding constraint. The design effectiveness and functional performance of the proposed mechanisms were demonstrated through an actual flight test of the DHRM CanSat launched by a model rocket.