Quebec, QC, Canada – TheNewswire – October 16, 2020 – NuRAN Wi-fi Inc. (“NuRAN Wi-fi” or the “Firm“) (CSE: NUR) (CNSX:NUR.CN) (OTC: NRRWF) (FSE: 1RN), proclaims its plans to consolidate all the Firm’s issued and excellent widespread shares (the “Shares“) on the idea of twenty-five (25) to 1 (1) (the “Consolidation“). The Consolidation was accepted by the decision of the board of administrators of the Firm in accordance with the articles of the Firm.
The report date for the Consolidation is October 21, 2020 and the Firm expects to start buying and selling its widespread shares on the Canadian Securities Change on a post-Consolidation foundation below its current title and ticker image. The brand new CUSIP and ISIN for the Shares is 24276X203 and CA24276X2032, respectively.
Previous to the Consolidation, the Firm had 178,077,913 pre-consolidation Shares issued and excellent. Following the Consolidation, the Firm can have roughly 7,123,117 post-consolidation Shares issued and excellent. Any ensuing fractional share entitlements remaining after the Consolidation which can be lower than one-half of 1 (0.5) Share will probably be cancelled and every fractional Share that’s a minimum of one half of 1 (0.5) Share will probably be modified to 1 (1) complete Share.
A letter of transmittal will probably be mailed to registered shareholders offering directions to give up the certificates evidencing the pre-consolidation Shares held in change for alternative certificates or Direct Registration Recommendation representing the variety of post-consolidation Shares to which they’re entitled because of the Consolidation. Till surrendered, every certificates representing pre-consolidation Shares will probably be deemed for all functions to characterize the variety of complete post-consolidation Shares to which the holder thereof is entitled because of the Consolidation. Shareholders who maintain their pre-consolidation Shares in brokerage accounts or in “road title” will not be required to take any motion to give up or change the pre-consolidation Shares so held.
The train or conversion value and the variety of Shares issuable below any of the Firm’s excellent warrants and inventory choices will probably be proportionately adjusted to replicate the Consolidation in accordance with the respective phrases thereof.
As well as, the Firm is happy to announce that Binyomin Posen and Brendan Purdy have been appointed as administrators, and that James Albert Bailey has been appointed as Chief Monetary Officer of the Firm.
Mr. Binyomin Posen is a Senior Analyst at Plaza Capital Restricted, the place he focuses on company finance, capital markets and serving to firms to go public. After three and a half years of research abroad, he returned to finish his baccalaureate diploma in Toronto. Upon graduating (on the Dean’s Listing) he started his profession as an analyst at a Toronto boutique funding financial institution the place his function consisted of elevating funds for IPOs and RTOs, enterprise growth for portfolio firms and consumer relations.
Mr. Purdy is a practicing securities lawyer focused on the resource, life sciences, and technology sectors. In his private practice, he has developed extensive experience with respect to public companies, capital markets, mergers and acquisitions, and other transactions fundamental to the Canadian junior equity markets. Prior to receiving his J.D. from the University of Ottawa, Mr. Purdy completed a Bachelor of Management and Organizational Studies degree from the University of Western Ontario, majoring in finance and administration. Mr. Purdy was previously CEO of Enforcer Gold Corp. and High Hampton Holdings Corp., and has served as director of several private and public companies. Mr. Purdy is currently serving on the board of DGTL Holdings Inc., a digital media technology incubator.
Mr. Jim Bailey has 25+ years of experience working with Telecoms, Media and Technology companies. Roles include Chief Financial Officer and later Chief Executive Officer of Telecel International, a subsidiary of Orascom Telecom Holdings, and later Chief Financial Officer of Orascom Telecom WiMAX Limited, a joint venture with Intel Capital. For the last 10 years Jim has worked as a consultant to SMEs providing corporate finance advice in M&A, business planning and as interim/part-time CFO. He is married with 2 children and holds a Bachelor of Commerce degree from the University of Calgary, an MBA from London Business School and holds a CIMA designation.
About NuRAN Wireless
NuRAN Wireless is a leading supplier of mobile and broadband wireless infrastructure solutions. Its innovative radio access network (RAN), core network, and backhaul products dramatically drop the total cost of ownership, thereby creating new opportunities for established, as well as emerging mobile network operators. Indoor coverage, isolated rural communities, offshore platforms and ships, NuRAN Wireless helps its customers reach everyone, everywhere.
For further information about NuRAN Wireless: www.nuranwireless.com
Francis Letourneau, Director and CEO
Cautionary Assertion: Neither the Canadian Securities Change nor its Market Regulator (as outlined within the insurance policies of the Canadian Securities Change) accepts duty for the adequacy or accuracy of this launch.
Ahead Trying Info: This Information Launch might comprise forward-looking statements together with, however not restricted to, feedback relating to the timing and content material of the upcoming Consolidation. Ahead-looking statements deal with future occasions and situations and subsequently contain inherent dangers and uncertainties. Precise outcomes might differ materially from these at present anticipated in such assertion. Accordingly, readers shouldn’t undue reliance on forward-looking data. The Firm doesn’t undertake to replace any forward-looking data, besides in accordance with relevant securities legal guidelines.