NuRAN Provides Corporate Update
NuRAN Wireless has announced several significant corporate updates. The company's Cameroon subsidiary reached an agreement with its MNO Partner regarding site acceptance and settlement of arrears, which will increase monthly revenue by over 20% starting November 2024. Additionally, NuRAN has extended its secured convertible debentures to December 31, 2026, with a reduced interest rate of 10%.
The company has also amended its factoring agreement, increasing the maximum facility amount to $25.5 million with reduced interest of 5% for 2024, while capping conversions at 30 million Units instead of the previous 80 million Units. The company plans to issue 500,000 common shares to pay interest owing to an arm's length creditor.
NuRAN Wireless ha annunciato alcuni importanti aggiornamenti aziendali. La filiale della società in Camerun ha raggiunto un accordo con il partner MNO riguardo l'accettazione dei siti e il regolamento dei debiti, il che aumenterà il fatturato mensile di oltre il 20% a partire da novembre 2024. Inoltre, NuRAN ha esteso i suoi prestiti convertibili garantiti al 31 dicembre 2026, con un tasso d'interesse ridotto del 10%.
La società ha anche modificato il suo accordo di factoring, aumentando l'importo massimo della struttura a 25,5 milioni di dollari con un tasso d'interesse ridotto del 5% per il 2024, fissando al contempo il limite delle conversioni a 30 milioni di unità invece dei precedenti 80 milioni di unità. L'azienda prevede di emettere 500.000 azioni ordinarie per pagare gli interessi dovuti a un creditore indipendente.
NuRAN Wireless ha anunciado varias actualizaciones corporativas significativas. La subsidiaria de la empresa en Camerún alcanzó un acuerdo con su socio MNO sobre la aceptación de sitios y la liquidación de deudas, lo que aumentará los ingresos mensuales en más del 20% a partir de noviembre de 2024. Además, NuRAN ha extendido sus bonos convertibles garantizados hasta el 31 de diciembre de 2026, con una tasa de interés reducida del 10%.
La compañía también ha modificado su contrato de factoring, aumentando el monto máximo de la línea de crédito a 25.5 millones de dólares, con un interés reducido del 5% para 2024, mientras que se limita la conversión a 30 millones de Unidades en lugar de los 80 millones anteriores. La empresa planea emitir 500,000 acciones comunes para pagar los intereses adeudados a un acreedor independiente.
NuRAN Wireless는 몇 가지 중대한 기업 업데이트를 발표했습니다. 이 회사의 카메룬 자회사는 사이트 수용 및 체납 정산과 관련하여 MNO 파트너와 계약을 체결했으며, 이는 2024년 11월부터 월 수익을 20% 이상 증가시킬 것입니다. 또한, NuRAN은 2026년 12월 31일까지 보장된 전환사채의 기한을 연장하고 이자율을 10%로 낮췄습니다.
회사는 팩토링 계약도 수정하여 최대 대출 한도를 2,550만 달러로 늘리고 2024년 동안 이자율을 5%로 낮췄으며, 전환 한도를 이전의 8000만 유닛 대신 3000만 유닛으로 제한했습니다. 이 회사는 독립적인 채권자에게 지급할 이자를 위해 50만 주의 보통주를 발행할 계획입니다.
NuRAN Wireless a annoncé plusieurs mises à jour corporatives significatives. La filiale de l'entreprise au Cameroun a conclu un accord avec son partenaire MNO concernant l'acceptation des sites et le règlement des arriérés, ce qui augmentera les revenus mensuels de plus de 20 % à partir de novembre 2024. De plus, NuRAN a prolongé ses obligations convertibles garanties jusqu'au 31 décembre 2026, avec un taux d'intérêt réduit de 10 %.
L'entreprise a également modifié son accord de factoring, augmentant le montant maximum de la facilité à 25,5 millions de dollars avec un intérêt réduit de 5 % pour 2024, tout en limitant les conversions à 30 millions d'unités au lieu des précédents 80 millions d'unités. L'entreprise prévoit d'émettre 500 000 actions ordinaires pour payer les intérêts dus à un créancier indépendant.
NuRAN Wireless hat mehrere bedeutende Unternehmensaktualisierungen angekündigt. Die Tochtergesellschaft des Unternehmens in Kamerun hat eine Vereinbarung mit ihrem MNO-Partner bezüglich der Standortabnahme und der Begleichung von Rückständen getroffen, was ab November 2024 zu einer Erhöhung des monatlichen Umsatzes von über 20% führen wird. Darüber hinaus hat NuRAN seine gesicherten wandelbaren Schuldverschreibungen bis zum 31. Dezember 2026 verlängert, mit einem gesenkten Zinssatz von 10%.
Das Unternehmen hat auch seinen Factoring-Vertrag geändert und den maximalen Kreditrahmen auf 25,5 Millionen US-Dollar erhöht, mit einem reduzierten Zinssatz von 5% für 2024, während die Umwandlungen auf 30 Millionen Einheiten anstelle der vorherigen 80 Millionen Einheiten begrenzt werden. Das Unternehmen plant, 500.000 Stammaktien auszugeben, um die an einen unabhängigen Gläubiger geschuldeten Zinsen zu zahlen.
- Monthly revenue increase of over 20% from Cameroon operations starting November 2024
- Extension of convertible debentures maturity to December 2026 with reduced interest rate to 10%
- Increased factoring facility to $25.5 million with reduced interest rate to 5% for 2024
- Reduced maximum unit conversions from 80 million to 30 million units, limiting potential dilution
- Additional dilution through issuance of 500,000 common shares for interest payment
- 15% one-time extension fee added to principal amount of convertible debentures
- Reduction in conversion price to $0.20 per Unit for both debentures and factoring agreement
QUEBEC, QC / ACCESSWIRE / December 23, 2024 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTCQB:NRRWF)(FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, is pleased to provide the following corporate update on business:
MNO Settlement and Site Acceptance
The Company's subsidiary in Cameroon (NuRAN Cameroon) has reached an agreement with its Mobile Network Operator (MNO) Partner for the settlement of arrears relating to Network as a Service (NaaS) sites that are live but had not to date been invoiced. The agreement sets dates of acceptance when sites are deemed live and invoiced dating back to January 2022. The agreement means that beginning in November 2024, NuRAN Cameroon will issue an invoice for the additional sites increasing monthly revenue by over
Extension of Secured Convertible Debentures
NuRAN is also pleased to announce that it has completed negotiations for an extension of its convertible secured debentures issued in August 2023. The debenture holders have agreed to extend the maturity for a further 28 months to December 31, 2026 and reduce the interest rate to
Update on the Factoring Agreement.
NuRAN is also pleased to announce that it has amended the terms of the factoring agreement dated August 28, 2023 (the "Amendment"). Pursuant to the Amendment, the factoring company has agreed to increase the maximum amount available on the facility to
Issuance of Shares for Interest Owed
The Company also announces that its board of directors has approved the issuance of 500,000 common shares in the capital of the Corporation to pay interest owing to an arm's length creditors of a short term loan which has now been fully repaid in cash for the amount funded by this party, which common shares are subject to a statutory hold period in Canada of four months and a day.
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
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 include those relating to the Company being able to provide services similar to other tower companies and the Factor providing adequate funding for the business in this period leading up to the securing of additional funding. 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 refinance its long term debt that is currently in default; NuRAN's ability to adequately restructure its operations with respect to its new model of NaaS service contracts; our ability to collect fees from our telecommunication providers and reliance on the network of our telecommunications providers, 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 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; effects of the global supply shortage affecting parts needed for NuRAN's sites and site installations; 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.sedarplus.ca.
SOURCE: Nuran Wireless Inc.
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FAQ
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