Nuran Wireless closes $1.5-million private placement

Executive Summary

• Nuran Wireless Inc. closed a non-brokered private placement of 30 million common shares for gross proceeds of $1.5 million to fund working capital and pay off short-term promissory notes.
• The company is actively negotiating with current debt holders and new institutional investors to restructure or replace its current debt, potentially through longer-term instruments or a debt-for-equity swap.
• The private placement was executed to ensure sufficient working capital during these negotiations, with additional tranches expected as part of the broader restructuring plan.

Key Details

• Financing Structure: Non-brokered private placement.
• Shares Issued: 30,000,000 common shares.
• Price Per Share: $0.05.
• Gross Proceeds: $1,500,000.
• Use of Proceeds: Working capital purposes and payment of all outstanding short-term promissory notes issued from April to August 2025.
• Statutory Hold: The common shares are subject to a statutory hold period expiring December 26, 2025.
• Debt Restructuring Tracks:
  1. Replacing existing debt with longer-term, non-convertible, or hybrid instruments.
  2. A debt-for-equity swap to replace debt with equity on the balance sheet.
• Negotiation Status: Discussions are ongoing with current debt holders, new potential institutional investors, lenders, and governmental agencies.
• Future Capital Raise: The restructuring proposals include additional tranches of private placement to raise cash and streamline the capital structure.
• Shareholder Approval: Elements requiring approval will be included in the information circular for the Annual General and Special Shareholders Meeting scheduled for September 30, 2025.
• Context: The financing addresses short-term financial requirements due to delays in accessing funds from a $5 million (U.S.) facility.

Notable Quotes

• No direct quotes from the CEO/President were included in the provided text.