Nuran Wireless applies to list shares on Nasdaq

Executive Summary

• Nuran Wireless Inc. has submitted an application to list its common shares on the Nasdaq Capital Market, pending approval and the filing of a registration statement with the SEC.
• The company appointed Navindran Naidoo and Gerard Lokossou as strategic advisors to support operational and commercial growth, leveraging their extensive telecommunications experience in Africa.
• Shares will continue to trade on the Canadian Securities Exchange (NUR), OTC Markets (NRRWF), and Frankfurt Stock Exchange (1RN) until Nasdaq approval is granted.

Key Details

• Nasdaq Listing Application: The company has filed an application for its common shares to be listed on the Nasdaq Capital Market.
• Regulatory Requirements: The listing is subject to Nasdaq approval, satisfaction of all applicable listing requirements, and the effectiveness of a registration statement to be filed with the U.S. Securities and Exchange Commission (SEC).
• Current Trading Status: Pending Nasdaq approval and uplisting, common shares will continue to trade under the following symbols:
  • Canadian Securities Exchange: NUR
  • OTC Markets: NRRWF
  • Frankfurt Stock Exchange: 1RN
• Strategic Advisor Appointments:
  • Navindran Naidoo: Former network executive of MTN Group and current board member of Nuran. He brings over 25 years of experience in mobile/fixed network planning, RAN, transport, IP networks, and core networks. He played a key role in advancing rural network rollouts in Africa and represented MTN at the Facebook telecom infra project.
  • Gerard Lokossou: Former executive at Orange and MTN with nearly 30 years of leadership experience in telecommunications, FMCG, renewable energy, and capital markets across Africa. He has led business turnarounds and growth strategies for operators like MTN, Airtel Africa, and Orange.
• Management Commentary: CEO Francis Letourneau stated that the Nasdaq listing will broaden the investor base and elevate the company's profile among global institutional investors, while the new advisors will support strategic execution in Africa.

Notable Quotes

• "We are very excited to pursue a listing on Nasdaq, which will broaden our investor base and elevate our profile among global institutional investors. The addition of highly experienced advisers such as Mr. Naidoo and Mr. Lokossou will further support our continued growth and strategic execution in Africa," stated Francis Letourneau, chief executive officer of Nuran Wireless.