Martin Bédard Announces Changes in Holding of Common Shares of Nuran Wireless Inc.

QUÉBEC CITY, Dec. 7, 2020 /CNW Telbec/ - Martin Bédard announces that further to the execution of a Forebearance Agreement by a majority of the holders ("Secured Creditors") of the senior secured convertibles debentures issued on February 23, 2017 (the "Debentures") by Nuran Wireless Inc. ("Nuran") pursuant to which the Secured Creditors agreed (i) to forebear from enforcing their rights under the debentures until December 31, 2021; (ii) to settle all accrued but unpaid interest and penalties on the Debentures in Common Shares at a deemed price per Common Shares equal to the closing market price of the Common Shares on the CSE on the trading day prior to the Amending Effective Date, discounted  by the maximum discount permitted by Section 2.1 of Policy 6 of the CSE; (iii) that interest accrued on the Debentures will now be payable, in cash or Common Shares, at the option of Nuran, on June 30, 2021 and December 31, 2021, at a deemed price per Common Share equal to the volume weighted average trading price of the Common Shares on the CSE for the 10 day period prior to interest payment date. In consideration of the foregoing Nuran has agreed to adjust the conversion price of the Debenture to $0.33 per Common Share. The whole as further described in Nuran's press release dated December 3, 2020 (the "Transaction").

Immediately prior to the Transaction, Martin Bédard had voting power, control and direction over an aggregate of 518,868 Common Shares of Nuran, registered in the names of the following entities: Finexcorp Inc., 9169067 Canada Inc., Bilodard Inc. and 9314-1844 Québec Inc. as well as 90,000 options held personally and 101,800 warrants registered in the names of Finexcorp Inc. and Bilodard Inc. and a Debenture registered in the name of Finexcorp Inc. of a principal amount of $400,000 convertible at a price of $1.25, representing, if all warrants, option and the Debenture would have been exercised and converted, approximately 12.19% of the issued and outstanding Common Shares of Nuran. As a result of the Transaction, Martin Bédard now holds, directly and indirectly, same number of Common Shares, warrants and options and the Debenture in same amount but further to the Transaction, if the Debenture was converted (without giving effect to the accrued interest and penalties that could be payable in Common Shares) Martin Bédard would have, direct and indirect, voting power, control and direction over approximately 22,66% of the issued and outstanding Common Shares of Nuran.

In accordance with applicable securities laws, Martin Bédard 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 (collectively, "Securities") 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.

Martin Bédard is domiciled at 1190-B, rue de Courchevel, 4^th floor, Lévis, Québec, G6W 0M6.

A copy of the early warning report filed by Martin Bédard in connection with the Transaction is available on SEDAR under Nuran's profile. This press release is issued under the early warning provisions of Canadian securities legislation. 

SOURCE Martin Bédard