Nuran Announces Results of Annual and Special Meeting of Shareholders

Rhea-AI Summary

NuRAN Wireless held its annual and special meeting of shareholders on May 7, 2021, with approximately 16.3% of common shares voted. Shareholders approved all resolutions, including the appointment of Mallette LLP as auditor (99.2% in favor) and the election of six directors, including Vitor Fonseca and Ken Campbell. Both directors bring extensive industry experience to the board, enhancing corporate governance. The Company is focused on implementing its NAAS business model and continuing its strategic restructuring for future success.

Positive

• Shareholders approved all resolutions with high support (98.4% - 99.8%).
• Addition of experienced directors Vitor Fonseca and Ken Campbell to the board.
• Strong corporate governance structure following the annual meeting.

Negative

• None.

QUEBEC, QC / ACCESSWIRE / May 12, 2021 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTC PINK:NRRWF)(FSE:1RN) is pleased to announce the results of its annual and special meeting of shareholders held on May 7, 2021 (the "Meeting"). A total of 3,194,225 common shares of the Company were voted, representing approximately 16.3% of NuRAN's issued and outstanding common shares.

At the Meeting, shareholders overwhelmingly voted in favour of all proposed resolutions. The results for each of the matters voted on at the Meeting are as follows:

Matter	Votes in Favour (%)
	Vote % For	Vote % Against
Number of directors of the Company to be set at six (6)	98.9%	1.1%
Election of Directors:	Vote % For	Vote % Withheld
Francis Letourneau Jim Bailey Vitor Fonseca Brendan Purdy Ken Campbell Binyomin Posen	98.9% 98.9% 98.9% 98.9% 99.2% 98.9%	1.1% 1.1% 1.1% 1.1% 0.8% 1.1%
	Vote % For	Vote % Against
Appointment of Mallette LLP as auditor	99.2%	0.8%
Adoption of Amended and Restated Stock Option Plan	99.8%	1.2%
Adoption of Restricted Unit Plan	98.7%	1.3%
Resolution authorizing the Company to make rectification application to the Supreme Court of British Columbia pursuant to Section 229 of the Business Corporations Act	98.4%	1.6%

The addition of Vitor Fonseca and Ken Campbell to the board, two independent directors with significant industry experience, marks another successful milestone in the overall corporate restructuring of the Company commencing in late 2020.

Vitor Fonseca is currently Vice President and Treasurer of Romspen Investment Corporation, one the largest private commercial real estate lenders in Canada with a $3 billion North American portfolio. Immediately prior to joining Romspen, Mr. Fonseca was COO of a retirement home developer and operator. Mr. Fonseca is currently a director and Chair of the Audit Committee of Canntab Therapeutics Inc. and former director and Chair of the Audit Committee of Mission Ready Services Inc. and Enwave Energy Corporation. He is also presently a director of Magellan Communities Care, a not-for-profit organization developing a senior care complex in downtown Toronto. Mr. Fonseca holds an MBA from the Rotman School of Management , a CPA-CGA and a is also a graduate of the Institute of Corporate Directors.

Ken Campbell has more than twenty-five years of experience in the telecom industry. He has served in CEO and senior executive roles with operators in North America, North Africa and Europe. Mr. Campbell is also the Founder of Mobile Klinik, Canada's leading smartphone repair network. Mr. Campbell is a senior adviser with PMP Conseil (Paris) and the Chairman of Canadian B2B operator, Terago. Mr. Campbell is also a Board member of Upstream Systems, a PE-backed secure mobile commerce company serving emerging markets. Previously, Mr. Campbell served as Managing Director of Moroccan operator, INWI. He was also previously the CEO of Ooredoo Tunisia where he led the operation during the post revolution period. Mr. Campbell was also founding CEO of Canadian operator, WIND Mobile and the CEO of private equity backed Bite Group in Lithuania and Latvia. Mr. Campbell has also served in executive leadership roles for Vodafone (Romania), Orascom Telecom and Orange (Egypt). Mr. Campbell began his career with the management consultancy, A.T. Kearney, based in Washington, DC. Mr. Campbell holds a Masters in Business Administration from London Business School in London, UK and a Bachelor of Arts (Honours Economics) from Carleton University in Ottawa, Canada.

"We are extremely fortunate and excited to have added two individuals with such extensive pedigrees as Vitor Fonseca and Ken Campbell to our Board. We believe that with the successful launch of the NAAS business model, and the strengthening of our board following the annual general meeting will ensure that we continue to execute on our strategic plan for the restructuring of NuRAN and on our path of continued success into the future." stated Francis Letourneau, CEO of NuRAN.

For more information on the matters approved at the Meeting please refer to the Company's management information circular dated April 7, 2021 which is available on the Company's SEDAR profile at www.sedar.com.

About NuRAN Wireless
NuRAN Wireless is a leading supplier of mobile and broadband wireless infrastructure solutions. Its innovative radio access network (RAN), core network, and backhaul products dramatically drop the total cost of ownership, thereby creating new opportunities for established, as well as emerging mobile network operators. Indoor coverage, isolated rural communities, offshore platforms and ships, NuRAN Wireless helps its customers reach everyone, everywhere.

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

Francis Letourneau, Director and CEO
info@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.

Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

SOURCE: NuRAN Wireless Inc.

View source version on accesswire.com:
https://www.accesswire.com/646682/Nuran-Announces-Results-of-Annual-and-Special-Meeting-of-Shareholders

FAQ

What were the results of the NuRAN Wireless meeting on May 7, 2021?

At the meeting, shareholders approved all proposed resolutions with over 98% support for each.

Who were elected as directors at the NuRAN Wireless meeting?

Vitor Fonseca and Ken Campbell were elected to the board, among others.

What is the significance of the NAAS business model for NuRAN Wireless?

The NAAS business model is aimed at enhancing the company's growth and restructuring strategy.

How many shares were voted at the NuRAN Wireless shareholders meeting?

A total of 3,194,225 shares were voted, representing approximately 16.3% of issued shares.

What auditor was appointed at the NuRAN Wireless meeting?

Mallette LLP was appointed as the auditor with 99.2% shareholder support.