Mr. Francis Letourneau reports

NURAN PROVIDES CORPORATE UPDATE

Nuran Wireless Inc. has provided the following corporate update on business.

Cameroon operating licence

The company is pleased to announce that it has received its Category 1 licence for delivering and operating shared passive infrastructure to support digital communication networks. This licence allows the company to not only deliver its NaaS (network-as-a-service) business model for Orange Cameroon, but to expand its business by allowing for multiple mobile network operator (MNOs), or tenants, on sites. Nuran can now provide services similar to other tower companies. Nuran now has this added flexibility in the future and, although not strictly necessary for the current NaaS offering, the licence means full satisfaction of the DFI conditions precedent.

Update on the factoring agreement

Nuran is pleased to announce that it has amended the terms of the factoring agreement dated Aug. 28, 2023. Whereas the factoring agreement called for additional cash payments, completion of the DFI financing and securing of the indebtedness by way of a Hypothec in favour of the factor, or its duly authorized agent, on or before Sept. 30, 2023, this date has now been extended to Oct. 31, 2023. The company continues to work closely with the factor in providing adequate financing for the business in this period leading up to the securing of additional financing.

About Nuran Wireless Inc.

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.

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