NuRAN Wireless Announces Proposed Amendment To Its Senior Secured Debentures

NuRAN Wireless Inc. (CSE:NUR) (OTC:NRRWF) (FSE:1RN) (the “Company” or “NuRAN”) wishes to announce that it has made an offer to holders of its previously issued 12% Senior Secured Convertible Debentures (the “Debentures”) to fix the conversion price of the Debentures at $0.10 per common share (the Debentures are currently convertible at $0.12 per common share) and remove any adjustment provisions relating to future financings completed at a price lower than the conversion price (the “Debenture Amendment”).

In consideration of the Debenture Amendment the Company agreed to issue to Debenture holders that accept the Debenture Amendment offer (other than insiders) such number of common shares of the Company as is equal to 5% of the principal amount owing to the respective Debenture holder under the Debenture at a deemed price of $0.07 per common share, subject to compliance with applicable securities laws and any approvals required by the Canadian Securities Exchange. Except as outlined above all other terms of the Debenture are unaltered under the proposed Debenture Amendment and continue to be in force and effect.

By placing a firm floor on the debenture, it is management’s belief that it will provide current shareholders and potential new shareholders a higher level of confidence in the company’s future initiatives and prospects.