NURAN WIRELESS INC - NRRWF STOCK NEWS

NuRAN Wireless announces a non-brokered private placement offering of up to 7,189,542 units at $1.53 per unit for gross proceeds of up to $11 million. A lead order of $4 million comes from Space-Communication Ltd., which will acquire approximately 9.3% equity post-offering. Each unit includes one common share and a warrant exercisable at $2.40 for two years. Funds will be used for network buildout, product development, and working capital. Closing is subject to certain conditions and due diligence.

NuRAN Wireless Inc. (OTC PINK: NRRWF) announced its common shares are now eligible for electronic clearing and settlement via The Depository Trust Company (DTC). This significant development will enhance liquidity and expedite trading for U.S. investors and brokerage firms. CEO Francis Letourneau expressed confidence that this eligibility will broaden their investor base and improve trade execution. NuRAN specializes in affordable mobile and broadband wireless infrastructure solutions.

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.

NuRAN Wireless announced significant progress in its Network as a Service contracts with Orange S.A. for developing networking sites in Cameroon and the Democratic Republic of the Congo. The Cameroon rollout comprises 242 sites, with the first 48 expected to be operational by September 2021, generating projected gross revenue of $3 million (CAD) per year, up from $2 million (CAD). Additionally, population density estimates have improved by 40%. The DRC expansion plans include evaluating 3,000 site locations and mitigating electronic component delays. NuRAN is also pursuing alternative financing and distribution agreements.

NuRAN Wireless (OTC PINK: NRRWF) reported financial results for the three months ending January 31, 2021, showing a significant revenue decline to $470,407 from $2,045,212 in the same period last year. Gross profit also fell to $90,939 from $761,577. The net loss increased sharply to $1,364,190 compared to $193,361 a year earlier. However, the company secured several significant contracts, including a potential CAD$500 million NaaS contract with Orange DRC and increased its site management under a contract with Orange Cameroon. Debt restructuring efforts improved its long-term financial position.

NuRAN Wireless Inc. announced an expansion of its Network as a Service (NAAS) contract with Orange Cameroon SA, adding 120 networking sites to the original 122, totaling 242 sites. The project is expected to generate gross revenues of up to $20M CAD. The deployment of these sites focuses on rural areas and is set for 2021-22, utilizing solar-powered GSM technology. Additionally, NuRAN appointed Vitor Fonseca as a new director and restructured $1M of debt into convertible debentures, further enhancing its financial position.

NuRAN Wireless reported operational and financial results for the fiscal year ending October 31, 2020. Revenue increased by $1.8 million, primarily due to significant contracts secured in late 2019, but gross margin decreased from 34% to 28%. The net loss narrowed to $1.89 million from $3.55 million in the prior year. The company undertook a restructuring to improve its financial position and has secured several strategic contracts, including a $4.75 million agreement with Intelsat. For 2021, NuRAN anticipates continued improvements and further growth.

NuRAN Wireless Inc. (CSE:NUR, OTC PINK:NRRWF) announced a significant corporate update on February 16, 2021. The company improved its working capital by settling debt with senior creditors, resulting in a decrease of its long-term debt to $947,000 on secured debentures and $437,637 on other secured debt. NuRAN established a subsidiary in Cameroon and completed a site project with GSMA for Vodafone in Ghana, managing seven sites. Additionally, Mr. Badi Abdallah and Mr. Charles Kouadio were appointed as Directors of Operations and Finance for Africa, respectively.

NuRAN Wireless Inc. has announced a significant adjustment regarding its stock options. The company has received approval from the Canadian Securities Exchange to raise the exercise price of recently granted options from $0.395 to $2.35 per common share. This change involves an aggregate of 1,225,000 stock options granted to employees, consultants, directors, and officers. All other terms remain unchanged, and the options will be subject to a four-month hold period. NuRAN Wireless specializes in mobile and broadband wireless infrastructure solutions.