Ce tai admi ist ative items emai to be completed p io to the fi st day of t adi g, i cludi g payme t of the bala ce of the Nasdaq e t y fee a d the fili g of the Nasdaq ce tificatio . The comme ceme t of t adi g o Nasdaq emai s subject to the completio of those items a d to the Compa y co ti ui g to satisfy all applicable Nasdaq listi g equi eme ts. No assu a ce ca be p ovided that t adi g will comme ce o August 17, 2026 o at all.
“Closi g this fi a ci g completes the bala ce sheet wo k that made ou Nasdaq listi g possible,” said F a cis Létou eau, Di ecto a d Chief Executive Office of NuRAN Wi eless. “We have b ought i ew capital, mate ially educed ou liabilities, a d do e so with the suppo t of ou lead i vesto , ou ma ageme t team a d ou supplie s, each of whom chose to take equity i NuRAN athe tha cash. Mo day we begi t adi g o Nasdaq. I wa t to tha k eve yo e who backed us to get he e.”
The Compa y issued a agg egate of 1,788,233 P efe ed Sha es at a p ice of $4.25 pe P efe ed Sha e. The agg egate subsc iptio amou t of $7,600,000 was satisfied as follows:
app oximately $3,862,143 th ough the settleme t a d exti guishme t of a co ve tible debe tu e of the Compa y held by the lead i stitutio al i vesto i the Fi a ci g;
$518,704 th ough the settleme t of acc ued a d u paid sala y owi g to th ee membe s of the Compa y’s ma ageme t;
$219,153 th ough the settleme t of othe i debted ess a d accou ts payable owi g to supplie s a d othe c edito s of the Compa y a d its subsidia ies; a d
the bala ce of $3,000,000 i cash.
O completio , the Fi a ci g has educed the Compa y’s liabilities a d i c eased its sha eholde s’ equity by a agg egate of app oximately C$7,600,000. The et cash p oceeds will be used fo the o goi g developme t of the Compa y’s busi ess a d fo ge e al wo ki g capital pu poses.
I co ectio with the Fi a ci g the Compa y also issued 200,000 A wa a ts, each exe cisable to acqui e o e commo sha e at $10.00 pe commo sha e fo a pe iod of fou yea s, a d 1,588,233 B wa a ts, each exe cisable at $5.00 pe commo sha e fo a pe iod of five yea s. The Compa y a d the lead i vesto have e te ed i to a egist atio ights ag eeme t i espect of the commo sha es issuable o co ve sio of the P efe ed Sha es a d o exe cise of the B wa a ts.
The secu ities issued u de the Fi a ci g a e subject to a statuto y hold pe iod i Ca ada expi i g o Decembe 15, 2026.
The secu ities issued u de the Fi a ci g have ot bee , a d will ot be, egiste ed u de the U ited States Secu ities Act of 1933, as ame ded, a d may ot be offe ed o sold i the U ited States o to, o fo the accou t o be efit of, U.S. pe so s abse t egist atio o a applicable exemptio f om the egist atio equi eme ts. This p ess elease shall ot co stitute a offe to sell o the solicitatio of a offe to buy o shall the e be a y sale of the secu ities i a y State i which such offe , solicitatio o sale would be u lawful.
The pa ticipatio i the Fi a ci g by F a cis Létou eau, Chief Executive Office a d a di ecto of the Compa y, James Bailey, Chief Fi a cial Office , a d David Ch istophe Pa so s, Chief Tech ology Office , by way of the settleme t of a agg egate of C$518,704 of acc ued a d u paid sala y owi g to them, co stituted a ” elated pa ty t a sactio ” withi the mea i g of Multilate al I st ume t 61-101 – P otectio of Mi o ity Secu ity Holde s i Special T a sactio s (“
NuRAN Wi eless (CSE:NUR)(OTC:NRRWF)(FSE:1RN) is a fast-g owi g, missio -d ive u al telecommu icatio s compa y dedicated to delive i g affo dable 2G, 3G, a d 4G wi eless co ectivity to emote a d u de se ved commu ities wo ldwide. Th ough its scalable Netwo k-as-a-Se vice (NaaS) model, NuRAN has deployed etwo ks se vi g mo e tha o e billio people who lack eliable co ectivity, d ivi g eco omic developme t, digital i clusio , a d social t a sfo matio ac oss Af ica a d beyo d. B idgi g the Digital Divide, O e Co ectio at a Time.
Fo fu the i fo matio about NuRAN Wi eless: www. u a wi eless.com
F a cis Létou eau,Di ecto a d CEO
This ews elease co tai s fo wa d-looki g stateme ts a d fo wa d-looki g i fo matio withi the mea i g of applicable Ca adia a d U ited States secu ities legislatio (collectively, “fo wa d-looki g stateme ts”). Fo wa d-looki g stateme ts a e ofte , but ot always, ide tified by the use of wo ds such as “a ticipates,” “expects,” “i te ds,” “pla s,” “believes,” “seeks,” “estimates,” “p ojects,” “will,” “may,” “would,” “could,” “should” a d simila exp essio s. All stateme ts othe tha stateme ts of histo ical fact a e fo wa d-looki g stateme ts.
Fo wa d-looki g stateme ts i this ews elease i clude, without limitatio , stateme ts ega di g: (i) the a ticipated comme ceme t of t adi g of the commo sha es o The Nasdaq Capital Ma ket o August 17, 2026 a d the completio of the admi ist ative items equi ed p io to the fi st day of t adi g; (ii) the expectatio that the Fi a ci g has educed the Compa y’s liabilities a d i c eased its sha eholde s’ equity by app oximately C$7,600,000; (iii) the expected use of the et cash p oceeds of the Fi a ci g; (iv) the umbe of commo sha es issuable o co ve sio of the P efe ed Sha es a d o exe cise of the wa a ts, a d the ci cumsta ces i which the co ve sio p ice may cha ge; (v) the availability of the exemptio s elied upo u de MI 61-101; (vi) the fili g of a esale egist atio stateme t with the U ited States Secu ities a d Excha ge Commissio u de the egist atio ights ag eeme t withi the timeli es specified the ei ; (vii) the co ti ued listi g of the commo sha es o the CSE, OTC Ma kets a d the F a kfu t Stock Excha ge; a d (viii) the Compa y’s busi ess st ategy, g owth objectives a d ability to expa d its NaaS ope atio s ac oss Af ica.
Fo wa d-looki g stateme ts a e based o the beliefs, expectatio s a d opi io s of ma ageme t as of the date of this ews elease a d o a umbe of assumptio s, i cludi g that the admi ist ative items equi ed by Nasdaq p io to the fi st day of t adi g will be completed i time; that Nasdaq will ot withd aw o modify its app oval; that the Compa y will co ti ue to satisfy all applicable Nasdaq i itial a d co ti ued listi g equi eme ts; that o eve t of default will occu u de the te ms of the P efe ed Sha es; a d that ge e al eco omic, ma ket a d busi ess co ditio s will ot dete io ate.
Fo wa d-looki g stateme ts a e subject to k ow a d u k ow isks, u ce tai ties a d othe facto s that may cause actual esults to diffe mate ially, i cludi g, without limitatio : (i) the isk that t adi g o Nasdaq does ot comme ce o August 17, 2026 o at all; (ii) the isk that Nasdaq withd aws o modifies its app oval, i cludi g u de Nasdaq Rule 5205(e), if a y i fo matio p eviously p ovided to Nasdaq becomes i accu ate o if the e is a mate ial cha ge to such i fo matio ; (iii) the isk that the Compa y does ot satisfy the co ti ued listi g equi eme ts of Nasdaq o the CSE; (iv) dilutio to holde s of commo sha es a isi g f om the co ve sio of the P efe ed Sha es, the acc ual of paid-i -ki d divide ds the eo , the i c ease i the umbe of commo sha es issuable o co ve sio upo the commo sha es ceasi g to be listed o the CSE, a d the exe cise of the wa a ts; (v) the a ki g of the P efe ed Sha es se io to the commo sha es as to divide ds a d o a liquidatio , a d the p otective p ovisio s attachi g the eto which est ict the Compa y f om i cu i g i debted ess a d f om c eati g secu ities a ki g se io to o o a pa ity with the P efe ed Sha es without the co se t of holde s of at least 67% of the P efe ed Sha es; (vi) the isk that the Compa y equi es additio al fi a ci g a d that such fi a ci g is ot available o acceptable te ms o at all; (vii) the isk that the Compa y does ot satisfy its obligatio s u de the egist atio ights ag eeme t withi the timeli es specified the ei ; (viii) isks elati g to the Compa y’s ability to co ti ue to deploy a d ope ate etwo k i f ast uctu e i multiple Af ica ju isdictio s, i cludi g egulato y, political, cu e cy, cou te pa ty a d ope atio al isks; a d (ix) ge e al eco omic, ma ket a d busi ess co ditio s.
Although the Compa y believes that the assumptio s u de lyi g the fo wa d-looki g stateme ts a e easo able, u due elia ce should ot be placed o fo wa d-looki g stateme ts, which a e i he e tly u ce tai a d a e based o i fo matio available to ma ageme t as of the date he eof. The fo wa d-looki g stateme ts co tai ed i this ews elease a e exp essly qualified i thei e ti ety by this cautio a y stateme t. The Compa y does ot u de take a y obligatio to update publicly o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts o othe wise, except as equi ed by applicable secu ities laws.
