Nuran Wireless Announces Increase and Repricing of Non-Brokered Private Placement

NuRAN Wireless Inc. (the “Company” or “NuRAN”) (CSE:NUR) (OTC:NRRWF) (FSE :1RN) announces the repricing and an increase in the amount of its non-brokered private placement previously announced on April 23, 2018 (the “Private Placement”). The Company is offering up to 25,000,000 units (each a “Unit”) of the Company at a price of $0.12 per Unit for gross proceeds of up to $3,000,000,.

Each Unit will consist of one common share (a “Share”) and one share purchase warrant (a “Warrant”), with each Warrant entitling the holder to acquire one additional Share at a price of $0.20 per Share for a period of 24 months from closing.

The Company will pay a finder’s fee on the equity portion of the Private Placement consisting of a 7% cash fee and Warrants to purchase up to 7% of the number of Units placed, exercisable at a price of $0.12 per Share for a period of 24 months from closing.

All securities issued will be subject to a hold period expiring four months and one day following closing.

The net proceeds of the Private Placement will be used for business development purposes and for general working capital. The Private Placement is subject to compliance with applicable securities laws and approval of the Canadian Securities Exchange.

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.

For further information about NuRAN Wireless:

Martin Bedard
President and CEO

Tel: (418) 914-7484 Fax: (418) 914-9477
Toll Free: 1-855-914-7484 Email: info@nuranwireless.com

www.nuranwireless.com or www.nutaq.com

Direct Financial Strategies and Communication:

Frank Candido
Tel: (514) 969-5530

Email: frank.candido@nuranwireless.com

No regulatory authority has approved or disapproved the information contained in this news release.

Forward Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the timing of the Private Placement, the use of proceeds from the Private Placement, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NuRAN Wireless Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information. 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. 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. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Disclaimer

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Source: www.thenewswire.com