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NuRAN Wireless Announces Proposed Amendment To Its Senior Secured Debentures
Jan. 04, 2019 07:31AM PST
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NuRAN Wireless Inc. (CSE:NUR) (OTC:NRRWF) (FSE:1RN) (the “Company” or “NuRAN”) wishes to announce that it has made an offer to holders of its previously issued 12% Senior Secured Convertible Debentures (the “Debentures”) to fix the conversion price of the Debentures at $0.10 per common share (the Debentures are currently convertible at $0.12 per common share) and remove any adjustment provisions relating to future financings completed at a price lower than the conversion price.
NuRAN Wireless Inc. (CSE:NUR) (OTC:NRRWF) (FSE:1RN) (the “Company” or “NuRAN”) wishes to announce that it has made an offer to holders of its previously issued 12% Senior Secured Convertible Debentures (the “Debentures”) to fix the conversion price of the Debentures at $0.10 per common share (the Debentures are currently convertible at $0.12 per common share) and remove any adjustment provisions relating to future financings completed at a price lower than the conversion price (the “Debenture Amendment”). In consideration of the Debenture Amendment the Company agreed to issue to Debenture holders that accept the Debenture Amendment offer (other than insiders) such number of common shares of the Company as is equal to 5% of the principal amount owing to the respective Debenture holder under the Debenture at a deemed price of $0.07 per common share, subject to compliance with applicable securities laws and any approvals required by the Canadian Securities Exchange. Except as outlined above all other terms of the Debenture are unaltered under the proposed Debenture Amendment and continue to be in force and effect.
By placing a firm floor on the debenture, it is management’s belief that it will provide current shareholders and potential new shareholders a higher level of confidence in the company’s future initiatives and prospects.
No regulatory authority has approved or disapproved the information contained in this news release.
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
info@nuranwireless.com
(418) 914-7484
Frank Candido
Direct Financial Strategies and Communication
frank.candido@nuranwireless.com
(514) 969-5530
US Investor Contact
Trevor Brucato
Managing Director
RB Milestone Group, LLC
Stamford, CT & New York, NY
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 Offering, the use of proceeds from the Offering, 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.
Source: www.thenewswire.com