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An update from Nuran Wireless ( (TSE:NUR) ) is now available.
NuRAN Wireless has completed its previously announced restructuring transaction, issuing more than 10.3 million units at $2.89 per unit through a mix of cash subscriptions, debt settlements and the acquisition of a factoring company valued at just over $20.8 million, along with an initial additional tranche of 2.1 million units to raise further cash and settle additional debt. The transactions, which are subject to standard hold periods, materially advance the company’s balance-sheet cleanup and funding position ahead of fiscal year-end, while the appointment of governance-focused executive Joseph Labkowski to the board is expected to strengthen oversight and stakeholder management as NuRAN pursues capital-intensive rural network expansion.
More about Nuran Wireless
NuRAN Wireless is a rural telecommunications company that develops and deploys affordable, scalable 2G, 3G and 4G mobile and broadband infrastructure to extend wireless network coverage to remote and underserved regions worldwide, targeting the more than one billion people lacking reliable long-distance communications.
Average Trading Volume: 799
Technical Sentiment Signal: Sell
Current Market Cap: C$1.07M
For detailed information about NUR stock, go to TipRanks’ Stock Analysis page.