NuRAN Wireless Secures US$10 Million Credit Facility

NuRAN Wireless Inc. announced a US$10 million non-convertible revolving credit facility. This facility, established with a group of supporting shareholders, aims to fund working capital and expand telecommunications tower construction. This financial move allows NuRAN to bypass equity dilution, as no shares will be issued under this agreement.

The company confirmed no shares have been sold under its at-the-market equity program. Management believes current share prices undervalue the company’s assets and growth potential. Thus, they have opted not to utilize the ATM program under current market conditions.

NuRAN plans to use this facility to support its deployment strategy aiming for operational positive cash flow. The company expects the credit, alongside cash flow and other funds, to enable the construction of 125 additional towers necessary for sustainable operations.