NuRAN Wireless Inc. (“NuRAN Wireless” or the “Company”) (CSE:NUR, OTC:NRRWF, FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, wishes to announce a non-brokered private placement for gross proceeds of up to CAD $400,000 (the “Offering”) through the sale of up to 8,000,000 units (each a “Unit”) of the Company at a price of CAD $0.05 per Unit.
NuRAN Wireless Inc. (“NuRAN Wireless” or the “Company”) (CSE:NUR, OTC:NRRWF, FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, wishes to announce a non-brokered private placement for gross proceeds of up to CAD $400,000 (the “Offering”) through the sale of up to 8,000,000 units (each a “Unit”) of the Company at a price of CAD $0.05 per Unit. Each Unit will consist of one common share (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one share at a price of CAD $0.07 per share for a period of 36 months. The Company will pay finder’s fees consisting of warrants to purchase up to 12% of the number of Units placed exercisable at a price of $0.06 per Share for a period of 24 months. All securities issued will be subject to a hold period expiring four months and one day following closing.
The net proceeds of the Offering will be used for general working capital. The Offering is subject to compliance with applicable securities laws and approval of the Canadian Securities Exchange. There is no assurance the Offering will be completed as planned or at all.
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;
President & CEO
United States Contact
RB Milestone Group, LLC
Stamford, CT & New York, NY
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.