NuRAN Wireless Issues Corporate Update

NuRAN Wireless Inc., based in Quebec, has announced several significant updates, impacting their business operations and financial agreements. The company reached an agreement with its Mobile Network Operator partner in Cameroon to settle outstanding arrears related to Network as a Service (NaaS) sites, with invoicing set to begin from November 2024. This agreement is expected to boost monthly revenue by over 20%.

In another development, NuRAN has extended the maturity of its secured convertible debentures until December 2026, with a revised interest rate of 10%. The company has also updated its factoring agreement, increasing the available facility to $25.5 million and lowering interest to 5% for 2024.

Moreover, NuRAN has issued 500,000 common shares to settle interest owed to a creditor, highlighting its strategic financial maneuvers aimed at maintaining liquidity and supporting expansion efforts.