With SEC egist atio effective a d the Compa y’s listi g applicatio u de eview, the emai i g item equi ed to complete the Nasdaq listi g p ocess is the satisfactio of Nasdaq’s applicable fi a cial a d sha eholde s’ equity listi g sta da ds. The Fi a ci g is st uctu ed specifically to add ess that equi eme t. O completio , the Compa y expects to have mate ially st e gthe ed its bala ce sheet th ough a combi atio of ew capital a d a co espo di g eductio i outsta di g i debted ess, positio i g NuRAN to satisfy the applicable Nasdaq i itial listi g c ite ia.
“This is the last piece of the puzzle,” said F a cis Létou eau, Di ecto a d CEO of NuRAN Wi eless. “We have spe t yea s buildi g a eal ope ati g busi ess, meeti g igo ous Ca adia disclosu e sta da ds, a d clea i g eve y egulato y hu dle o the path to a U.S. listi g. Ou 40-F is effective, ou applicatio is with Nasdaq, a d this fi a ci g is desig ed to satisfy the fi al outsta di g equi eme t. We a e ow close tha we have eve bee to b i gi g NuRAN’s sto y to Ame ica i vesto s.”
Pu sua t to the Subsc iptio Ag eeme t, the I vesto will subsc ibe fo 1,529,412 Se ies A co ve tible p efe ed sha es of the Compa y (the “
I co ectio with the Fi a ci g, the Compa y will also issue commo sha e pu chase wa a ts of the Compa y (the “
The P efe ed Sha es will ca y the divide d, co ve sio , edemptio , liquidatio , voti g a d othe ights, p ivileges, est ictio s a d co ditio s to be attached to the Se ies A co ve tible p efe ed sha es of the Compa y. A copy of the special ights a d est ictio s of the Se ies A co ve tible p efe ed sha es has bee filed u de the Compa y’s p ofile o SEDAR+ at www.seda plus.ca a d o EDGAR at www.sec.gov, a d eade s a e efe ed to that docume t fo the full pa ticula s of the Se ies A co ve tible p efe ed sha es.
The Compa y a d the I vesto have e te ed i to a egist atio ights ag eeme t (the “
The et cash p oceeds of the Fi a ci g will be used fo o goi g developme t of the Compa y’s busi ess g owth a d fo ge e al wo ki g capital pu poses.
The Fi a ci g is expected to close i the comi g weeks, subject to the satisfactio o waive of customa y closi g co ditio s, i cludi g eceipt of all ecessa y egulato y app ovals. I additio , the obligatio of the I vesto to complete the Fi a ci g is co ditio al upo the Compa y havi g eceived co fi matio f om the Nasdaq Stock Ma ket that the Compa y’s commo sha es have bee app oved fo listi g a d will comme ce t adi g o the Nasdaq Capital Ma ket. That co ditio is fo the exclusive be efit of the I vesto a d may be waived by the I vesto , i whole o i pa t, i its sole disc etio .
The Compa y’s Nasdaq listi g applicatio emai s u de eview a d emai s subject to Nasdaq’s satisfactio of all applicable listi g equi eme ts. No assu a ce ca be p ovided that such listi g will be obtai ed, o that the Fi a ci g will be completed o the te ms desc ibed above o at all.
The secu ities to be issued u de the Fi a ci g will be subject to a statuto y hold pe iod i Ca ada i acco da ce with applicable Ca adia secu ities laws. The secu ities bei g offe ed have ot bee , o will they 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.
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,” “will,” “may,” “would,” “could,” a d simila exp essio s. Fo wa d-looki g stateme ts i this ews elease i clude, without limitatio , stateme ts ega di g: (i) the a ticipated completio of the Fi a ci g a d the timi g the eof; (ii) the expectatio that completio of the Fi a ci g will satisfy the fi al outsta di g equi eme t fo listi g o the Nasdaq Capital Ma ket, i cludi g the applicable fi a cial a d sha eholde s’ equity listi g sta da ds; (iii) the a ticipated settleme t of outsta di g i debted ess i co ectio with the Fi a ci g a d the possibility of additio al debt settleme ts o simila te ms; (iv) the expected use of the et cash p oceeds of the Fi a ci g; (v) the e te i g i to a d fili g of the Regist atio Rights Ag eeme t a d the fili g of a esale egist atio stateme t with the SEC; (vi) the a ticipated listi g o t adi g of the Compa y’s commo sha es o the Nasdaq Capital Ma ket; a d (vii) 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.
These fo wa d-looki g stateme ts a e based o the beliefs, expectatio s, a d opi io s of ma ageme t of the Compa y as of the date of this ews elease a d a e subject to a umbe of k ow a d u k ow isks, u ce tai ties, a d othe facto s that may cause actual esults, pe fo ma ce, o achieveme ts to diffe mate ially f om those exp essed o implied by such fo wa d-looki g stateme ts, i cludi g, without limitatio : (i) the isk that the Fi a ci g may ot be completed o the te ms desc ibed he ei , o at all, i cludi g as a esult of the failu e to satisfy o obtai a waive of the co ditio s to closi g; (ii) the isk that, otwithsta di g completio of the Fi a ci g, the Compa y may ot satisfy all applicable Nasdaq listi g sta da ds; (iii) the isk that the Compa y’s commo sha es may ot be app oved fo listi g o the Nasdaq Capital Ma ket o a timely basis, o at all; (iv) the isk that additio al debt settleme ts may ot be ag eed o completed; (v) the isk that the Compa y may ot satisfy its obligatio s u de the Regist atio Rights Ag eeme t withi the timeli es specified the ei ; (vi) isks elated 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, a d ope atio al isks; a d (vii) 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.
