00:40:43 EDT Thu 01 Jun 2023
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Nuran Wireless Inc (2)
Symbol NUR
Shares Issued 32,970,357
Close 2022-05-19 C$ 0.89
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Nuran Wireless appoints Kabbani to board

2022-06-15 16:10 ET - News Release

Mr. Francis Letourneau reports


Nuran Wireless Inc. has appointed Hassan Kabbani to the company's board of directors, effective immediately. Mr. Kabbani is a seasoned senior telecommunications expert with more than 30 years of experience in the telecom and technology industry. He has extensive experience in establishing effective business strategy and P&L management, business development, and transformation. He has a proven record in boosting performance and increasing profitability within an organization and has successfully led several large telecom organizations in multiple countries, including Zain Group, Orange S.A., Orascom Telecom and Telecel International. He has also provided leadership in a significant capacity within the International Finance Corp. organization of the World Bank. Currently, Mr. Kabbani is a member of the boards of directors of Togocom, Monty Mobile, Watary and Golden Tower.

In addition to his directorship, Mr. Kabbani will be establishing an operations committee of the board tasked with optimizing the network rollout, monitoring and KPIs (key performance indicators) of Nuran's NaaS (network-as-a-service) infrastructure. His extensive telecommunications background in a leadership capacity, record for results, focus on long-term strategic growth and strong operational execution, including managing significant growth as chief executive officer in the early years of Djezzy in Algeria, will help Nuran exceed its operational and business commitments.

The company also announces that Nuran and its auditor will be submitting a revised audit report to the British Columbia Securities Commission intended to address all deficiencies outlined in the previously announced cease trade order (CTO). The company anticipates that upon receipt of final BCSC approval of the revised materials, the revocation of the CTO and the resumption of trading of the company's common shares will follow shortly.

Due to the CTO, the company has extended the exercise period of all unexercised 450,000 common share purchase warrants issued pursuant to a private placement that closed on Dec. 15, 2020. The warrants had an initial expiry date of June 15, 2022, which has been extended to July 8, 2022, due to the current CTO. All other terms of the warrants will remain unchanged.

About Nuran Wireless Inc.

Nuran 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 offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably.

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