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Nuran Wireless Inc (2)
Symbol NUR
Shares Issued 15,391,659
Close 2021-02-11 C$ 1.87
Recent Sedar Documents

Nuran Wireless's Kirsh acquired 555,408 shares in Jan.

2021-02-11 17:49 ET - News Release

Mr. Philip Kirsh reports

PHILIP KIRSH ANNOUNCES CHANGES IN HOLDING OF COMMON SHARES OF NURAN WIRELESS INC.

Philip Kirsh has directly and indirectly acquired 555,408 additional common shares of Nuran Wireless Inc. on Jan. 12, 2021, pursuant to a settlement in shares of interest and penalties due on senior secured convertible debentures of Nuran issued on Feb. 23, 2017. This settlement was made in connection with the execution of a forbearance agreement between Nuran and a majority of the holders of the debentures (refer to Nuran's press releases dated Nov. 30, 2020, Dec. 3, 2020, and Jan. 12, 2021). The 555,408 additional common shares were acquired a deemed price of 32.625 cents per common share for an aggregate of $181,202.

Immediately prior to the transaction, the acquiror held, directly and indirectly, an aggregate of 605,600 common shares of Nuran, representing 4.08 per cent of the then issued and outstanding common shares of Nuran, 30,000 common share purchase warrants entitling the acquiror to purchase up to 30,000 common shares of Nuran at an exercise price of 45 cents and a debenture in a principal amount of $375,000 convertible at a price of 33 cents per common share. Assuming exercise of the warrants, and conversion of the debenture held by the acquiror before the transaction, the acquiror would have held, directly and indirectly 1,771,964 common shares of Nuran, representing approximately 11.07 per cent of Nuran's common shares that would then be issued and outstanding.

Immediately following the closing of the transaction, the acquiror holds, directly and indirectly, an aggregate of 1,161,008 common shares of Nuran, representing 7.54 per cent of the issued and outstanding common shares of Nuran, 30,000 warrants entitling the acquiror to purchase up to 30,000 common shares of Nuran at an exercise price of 45 cents and a debenture in a principal amount of $375,000 convertible at a price of 33 cents per common share. Assuming exercise of the warrants and conversion of the debentures held by the acquiror, following the closing of the transaction, the acquiror would have held, directly and indirectly, 2,327,372 common shares of Nuran, representing approximately 14.06 per cent Nuran's common shares that would then be issued and outstanding.

In accordance with applicable securities laws, the acquiror may, from time to time and at any time, acquire additional common shares and/or other equity, debt or other securities or instruments of Nuran in the open market or otherwise, and it reserves the right to dispose of any or all of its securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business, and prospects of Nuran and other relevant factors.

The acquiror's contact address is 1360 Clifton Ave., PMB 405 Clifton, N.J., 07012. A copy of the early warning report filed by Mr. Kirsh in connection with the transaction is available under Nuran's profile on SEDAR. This press release is issued under the early warning provisions of Canadian securities legislation.

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