NuRAN Engages Octagon Media for Investor Relations Campaign

Rhea-AI Summary

NuRAN Wireless Inc. has engaged Octagon Media Corp. for a six-month digital media advertising and investor marketing campaign, compensating them with US$125,000 and stock options for 300,000 shares at CAD$1.45. An additional bonus of US$100,000 is payable if the Company secures equity financing of CAD$4 million or more. Concurrently, 250,000 stock options were granted to directors and consultants at an exercise price of CAD$1.34, with various vesting schedules. The campaign aims to expand NuRAN's U.S. investor audience, enhancing visibility and potential investment opportunities.

Positive

• Engagement with Octagon Media Corp. could enhance investor visibility.
• Stock options granted may incentivize management and align interests with shareholders.

Negative

• The US$125,000 payment to Octagon is a cash outflow that could impact liquidity.

QUEBEC, QC / ACCESSWIRE / January 27, 2022 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTC PINK:NRRWF)(FSE:1RN), is pleased to announce the engagement of Octagon Media Corp. ("Octagon"), a multi-platform global marketing firm, to assist in a digital media advertising campaign coupled with an investor marketing program over a term of six months. As compensation, Octagon will receive a payment of US$125,000. In connection with the services, the Company also granted Octagon incentive stock options to purchase up to 300,000 common shares in the capital of the Company at an exercise price of CAD$1.45 per share. The options vest immediately and are exercisable for a term of 12 months from the date of issuance. Under the terms of the marketing services agreement, Octagon is entitled to a bonus payment of US$100,000 to be issued if the Company closes an equity financing of CAD$4 million or greater, during the term of the agreement at share price of CAD$2.50 or above.

Octagon Media Corp.'s services consist of the Wall Street Reporter and Next Super Stock platforms. The services will include investor conferences, features on the WallStreetReporter.com website, CEO podcast interviews as well as social media and targeted email distribution. The term of the contract is for six months.

Francis Letourneau CEO of NuRAN, commented, "We believe the company is well-positioned to benefit from a wider U.S. investor audience and are confident The Wall Street Reporter can help us achieve that goal."

The Company has also granted stock options today pursuant to the Company's stock option plan to certain directors and consultants of the Company, to purchase 250,000 common shares of the Company at an exercise price of $1.34 per share. Pursuant to the terms of the grant to the director 50% of the options will vest immediately and the remainder will vest six months from the grant date, for the remaining options one-third will vest immediately with one-third vesting three months from the grant date and the remaining one-third vesting six months from the grant date. All of these options expire five years from the date of the grant. All stock option grants will be subject to a four-month hold period and Canadian Securities Exchange approval.

About NuRAN Wireless:

NuRAN Wireless is a leading rural telecommunications company that meets the growing demand for wireless network coverage in remote and rural regions around the globe. With its affordable and innovative scalable solutions of 2G, 3G, and 4G technologies, NuRAN Wireless offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably. "Bridging the Digital Divide, One Connection at a Time."

Additional Information:

For further information about NuRAN Wireless: www.nuranwireless.com

Francis Létourneau,
Director and CEO
Francis.letourneau@nuranwireless.com
Tel: (418) 264-1337

Frank Candido
Investor relations
Frank.candido@nuranwireless.com
Tel: (514) 969-5530

Cautionary Statement: Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

None of the securities discussed in this news released have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and any securities issued are anticipated to be issued in reliance upon available exemptions from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Forward Looking Statements

This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "anticipates", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include those relating to future equity financings. Forward-looking statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, such as the uncertainties regarding include risks such as the uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, risks relating to NuRAN's business and the economy generally; NuRAN's ability to adequately restructure its operations with respect to its new model of NAAS service contracts; the capacity of the Company to deliver in a technical capacity and to import inventory to Africa at a reasonable cost; NuRAN's ability to deal with global supply shortages for telecommunication equipment and its ability to find alternate suppliers; NuRAN's ability to obtain project financing for the proposed site build out under its NAAS agreements with Orange, MTN and other telecommunication providers, the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; NuRAN's ability to meet or exceed customers' demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in the Company's industry; NuRAN's ability to retain key employees and protect its intellectual property; compliance with local laws and regulations and ability to obtain all required permits for our operations, access to the credit and capital markets, changes in applicable telecommunications laws or regulations or changes in license and regulatory fees, downturns in customers' business cycles; and insurance prices and insurance coverage availability, the Company's ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; the Company's ability to successfully implement its business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; the Company's expansion into markets outside of Canada and the operational, competitive and regulatory risks facing the Company's non-Canadian based operations. Accordingly, readers should not place undue reliance on forward looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com.

SOURCE: NuRAN Wireless Inc.

View source version on accesswire.com:
https://www.accesswire.com/685985/NuRAN-Engages-Octagon-Media-for-Investor-Relations-Campaign

FAQ

What is the purpose of NuRAN Wireless's engagement with Octagon Media Corp.?

NuRAN Wireless engaged Octagon Media Corp. to assist with a digital media advertising and investor marketing campaign aimed at expanding its U.S. investor audience.

What are the financial terms of the agreement between NuRAN Wireless and Octagon?

NuRAN Wireless will pay Octagon US$125,000, and grant stock options for 300,000 shares at CAD$1.45, plus a US$100,000 bonus for meeting specific financing conditions.

When does the digital media campaign for NuRAN Wireless begin?

The digital media campaign for NuRAN Wireless, in collaboration with Octagon Media Corp., is set for a term of six months, starting upon the agreement's execution.

What are the stock options granted to NuRAN Wireless's directors and consultants?

NuRAN Wireless granted 250,000 stock options to directors and consultants at an exercise price of CAD$1.34, with various vesting schedules.