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An update from Nuran Wireless ( (TSE:NUR) ) is now available.
NuRAN Wireless has successfully closed a non-brokered private placement, raising CAD$1.5 million through the issuance of 30 million common shares. The funds will be used for working capital and to address short-term financial needs due to delays in accessing a US$5 million facility. The company is also negotiating with current debt holders and potential new investors to restructure or replace its existing debt with more favorable terms, potentially through longer-term instruments or a debt-for-equity swap. These efforts aim to streamline NuRAN’s capital structure, reduce interest obligations, and enhance its financial stability, positioning it for future fundraising and value creation.
More about Nuran Wireless
NuRAN Wireless is a leading rural telecommunications company that focuses on providing wireless network coverage in remote and rural regions globally. The company offers affordable and innovative scalable solutions utilizing 2G, 3G, and 4G technologies, aiming to bridge the digital divide by enabling effective and affordable communication for over a billion people.
Average Trading Volume: 181,523
Technical Sentiment Signal: Sell
Current Market Cap: C$1.59M
See more insights into NUR stock on TipRanks’ Stock Analysis page.