NuRAN Wireless Completes Private Placement Amid Debt Restructuring Efforts

NuRAN Wireless Inc., a provider of wireless infrastructure solutions, has finalized a private placement, raising CAD$1.5 million. This was achieved through issuing 30 million common shares at $0.05 each. The funds raised are earmarked for working capital and settling short-term promissory notes from 2025.

Due to delays in accessing a US$5 million facility, the private placement addresses the company's pressing financial needs. Concurrently, NuRAN is in discussions to replace or restructure its debt. Potential strategies include replacing existing debt with long-term instruments or a debt-for-equity swap. Negotiations involve current debt holders and potential new institutional lenders.

These efforts aim to streamline NuRAN's financial structure, ensuring adequate working capital is available. Shareholders will be updated on any agreements.