NuRAN Wireless Reduces Debt Significantly, Appoints Executives For African Operations

NuRAN Wireless (CSE: NUR) this morning provided a corporate update on its operations. The update placed an emphasis on the firms financial position, with certain debts having been converted to shares.

The company has identified that a total of $1.9 million in outside debt owed to 12% senior secured convertible debenture holders has been settled via the issuance of 5.7 million common shares, while a further 2.0 million shares were issued to settle $850,000 in long term debt.

Following the settlements, a total of $0.9 million remains outstanding on the 12% senior secured debentures, while $0.4 million in other long term secured debt remains outstanding.

In terms of operations, the company has indicated that it has completed the site build in connection with the project underway with Vodafone for GSMA in Ghana. The company will now shift to managing daily operations, while monitoring and maintaining seven sites within Ghana over the next twelve months. The company has also now completed the forming of its wholly owned subsidiary in Cameroon, in connection with an agreement worth up to $20 million signed in October 2020.

Finally, the company has appointed Badi Abdallah, a 25 year telecom industry executive, as director of operations for Africa. Meanwhile, Charles Kouadio, an industry executive for ten years within Africa, has been appointed as director of finance for Africa.

NuRAN Wireless last traded at $2.25 on the CSE.


Information for this briefing was found via Sedar, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Nuran Wireless Included In Massive RFP For Middle Eastern Mobile Sites

NuRAN Wireless (CSE: NUR) may have a potentially significant contract on its hands this morning....

Thursday, April 28, 2022, 09:03:58 AM

NuRAN Wireless Issued Cease Trade Order Due To Modified Auditor Opinion

Popular small cap NuRAN Wireless (CSE: NUR) this morning saw its equity halted by the...

Friday, May 20, 2022, 11:53:00 AM

NuRan Adds To Current Backlog With 250 Site Agreement For Telecom Towers

NuRan Wireless (CSE: NUR) has secured a new five year agreement with MTN Group for...

Wednesday, June 5, 2024, 08:46:12 AM

NuRan Wireless Q1 Earnings: Can They Fix The Balance Sheet?

We’re going to take a brief break from our mining coverage today, in the interest...

Saturday, June 14, 2025, 03:21:00 PM

NuRan Issues Bold Guidance For 2024/5 While Cutting Costs Over Lack Of Funding

NuRan Wireless (CSE: NUR) is sending mixed signals to the market this morning, providing guidance...

Tuesday, July 25, 2023, 08:48:20 AM