Nuran Wireless seeks holder OK for debenture amendment
Mr. Martin Bedardreports NURAN WIRELESS ANNOUNCES PROPOSED AMENDMENT TO ITS SENIOR SECURED DEBENTURES Nuran Wireless Inc. has made an offer to holders ofits previously issued 12-per-cent senior secured convertible debentures to fix the conversion price of the debentures at 10 cents per common share (the debentures are currently convertible at 12 cents per common share) and remove any adjustment provisions relating to future financings completed at a price lower than the conversion price. In consideration of the debenture amendment, the company agreed to issue to debenture holders that accept the debenture amendment offer (other than insiders) such number of common shares of the company as is equal to 5 per cent of the principal amount owing to the respective debenture holder under the debenture at a deemed price of seven cents per common share, subject to compliance with applicable securities laws and any approvals required by the Canadian Securities Exchange.Except as outlined above, all other terms of the debenture are unaltered under the proposed debenture amendment and continue to be in force and effect. By placing a firm floor on the debenture, it is management's belief that it will provide current shareholders and potential new shareholders a higher level of confidence in the company's future initiatives and prospects. About Nuran Wireless Inc. Nuran Wireless is a leading supplier of mobile and broadband wireless infrastructure solutions. The company's innovative radio access network, 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. We seek Safe Harbor. 2019 Canjex Publishing Ltd. All rights reserved.