NuRAN Announces Closing of Additional Debt Settlements and Correction of Press Release

Rhea-AI Summary

NuRAN (OTC:NRRWF) closed an additional tranche of debt settlements on February 3, 2026, issuing 26,297 Units at $2.89 per Unit to settle $76,000 of debt. The company also issued 5,634 common shares to board members for services in 2022–2023.

The company corrected prior figures for an earlier tranche: the initial additional tranche was 2,115,064 Units at $2.89, which included cash subscriptions of $2,599,932 and debt settlements of $3,512,627. All securities are subject to a statutory four-month-and-one-day hold period.

Positive

• Debt of $76,000 settled by issuing 26,297 Units at $2.89
• Clarified initial tranche: 2,115,064 Units included $2,599,932 cash subscriptions

Negative

• Issued 5,634 common shares to board members for 2022–2023 services, adding share dilution
• Correction increased prior reported debt-settlement figure to $3,512,627, changing prior disclosure numbers

QUEBEC, QC / ACCESS Newswire / February 3, 2026 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTC PINK:NRRWF)(FSE:1RN), a leading provider of mobile and broadband wireless infrastructure, announces that further to its press release dated December 30, 2025, the Company closed an additional tranche of debt settlements resulting in the Company issuing an aggregate of 26,297 Units, at $2.89 per Unit, representing debt settlements of $76,000. In addition, the Company issued 5,634 common shares of the Company to members of the Board of Directors of the Company for consideration relating to services provided in 2022 and 2023.

In addition, the Company is making the following corrections to its press release dated December 23, 2025. The second paragraph of that press release should have read "the Company also closed an initial tranche of the additional amounts, issuing an aggregate of 2,115,064 Units, at $2.89 per Unit, which included cash subscriptions of $2,599,932, and debt settlements of $3,512,627", correcting the previous figures of 2,124,580 Units, cash subscriptions of $2,574,932, and debt settlements of $3,565,127.

All securities issued are subject to a statutory four month and one day hold period, and such further restrictions as may apply under foreign securities laws.

About NuRAN Wireless:

NuRAN Wireless is a leading rural telecommunications company that meets the growing demand for wireless network coverage in remote and rural regions around the globe. With its affordable and innovative scalable solutions of 2G, 3G, and 4G technologies, NuRAN Wireless offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably. "Bridging the Digital Divide, One Connection at a Time."

Additional Information:

For further information about NuRAN Wireless: www.nuranwireless.com

Francis Létourneau,
Director and CEO
Francis.letourneau@nuranwireless.com
Tel: (418) 264-1337

Forward Looking Statements

This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "anticipates", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved.

Forward-looking statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, such as, the risk that the Company will not complete the Consolidation; the risk that the Company will not complete the Restructuring Transaction; the risk that the Company will not complete the additional demand for Units; uncertainties and risks relating to NuRAN's business and the economy generally; NuRAN's ability to collect fees from our telecommunication providers and reliance on the network of our telecommunications providers, the capacity of the Company to deliver in a technical capacity and to import inventory to Africa at a reasonable cost; NuRAN's ability to obtain project financing for the proposed site build out under its NaaS agreements with Orange, MTN and other telecommunication providers, the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; NuRAN's ability to meet or exceed customers' demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in the Company's industry; effects of the global supply shortage affecting parts needed for NuRAN's sites and site installations; NuRAN's ability to retain key employees and protect its intellectual property; compliance with local laws and regulations and ability to obtain all required permits for our operations, access to the credit and capital markets, changes in applicable telecommunications laws or regulations or changes in license and regulatory fees, downturns in customers' business cycles; and insurance prices and insurance coverage availability, the Company's ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; the Company's ability to successfully implement its business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; the Company's expansion into markets outside of Canada and the operational, competitive and regulatory risks facing the Company's non-Canadian based operations. Accordingly, readers should not place undue reliance on forward looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR+ at www.sedarplus.ca.

SOURCE: NuRAN Wireless Inc.

View the original press release on ACCESS Newswire

FAQ

What did NuRAN (NRRWF) announce on February 3, 2026 about debt settlements?

The company closed an additional debt settlement issuing 26,297 Units at $2.89 to settle $76,000 of debt. According to the company, this tranche was in addition to earlier issuances and follows prior settlements announced in December 2025.

How many shares did NuRAN issue to its board and why did it issue them?

NuRAN issued 5,634 common shares to board members for services rendered in 2022–2023. According to the company, those shares were consideration for directors' services provided during those years.

What correction did NuRAN make to its December 23, 2025 press release for NRRWF?

NuRAN corrected the earlier numbers to show 2,115,064 Units at $2.89, including cash subscriptions of $2,599,932 and debt settlements of $3,512,627. According to the company, these figures replace the previously reported amounts.

Are the securities issued by NuRAN immediately tradable for NRRWF shareholders?

No. All securities issued are subject to a statutory four-month-and-one-day hold period, restricting immediate resale. According to the company, additional foreign-law restrictions may also apply in certain jurisdictions.

Does the February 3, 2026 issuance materially change NuRAN's cash position or outstanding capital?

The issuance settled $76,000 of debt via Units and included non-cash consideration to directors, so immediate cash inflow was limited. According to the company, the transactions adjust debt and outstanding securities rather than provide large new cash proceeds.