Star Metro - NuRAN Wireless Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

The Notification Letter is only a notification of deficiency and not a notice of delisting. As such, the Notification Letter has no immediate effect on the listing or trading of the Company's Shares on the Nasdaq Capital Market under the symbol "NUR."

Nasdaq Listing Rules

Nasdaq Listing Rule 5550(a)(2) requires securities listed on the Nasdaq Capital Market to maintain a minimum bid price of US$1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's Shares for the 30 consecutive business days from September 29, 2026, to November 9, 2026, the Company has not met the minimum bid price requirement.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), NuRAN has a period of 180 calendar days, or until May 10, 2027, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's Shares must meet or exceed US$1.00 for at least ten consecutive business days during this 180-calendar day compliance period. Nasdaq may, in its discretion, require the Company to satisfy the minimum bid price requirement for a period of more than ten consecutive business days, generally not exceeding 20 consecutive business days, before determining that the Company has demonstrated an ability to maintain long-term compliance.

If the Company does not regain compliance by May 10, 2027, it may be eligible for an additional 180-calendar-day compliance period, provided that it meets the continued listing requirement for market value of publicly held shares (US$1 million) and all other initial listing standards for the Nasdaq Capital Market, other than the minimum bid price requirement. The Company must also provide written notice to Nasdaq of its intention to cure the deficiency during the additional compliance period, by effecting a reverse stock split, if necessary. If the Company elects to implement a reverse stock split, Nasdaq requires that it be completed no later than ten business days prior to the expiration of the initial 180-calendar-day compliance period ending May 10, 2027.

If it appears to Nasdaq that NuRAN will not be able to cure the deficiency, or if NuRAN is not otherwise eligible for additional time to regain compliance, the Company's Shares will be subject to delisting by Nasdaq. NuRAN may appeal any Nasdaq determination to delist its Shares, and during any appeal process, the Company's Shares would continue to trade on the Nasdaq Capital Market.

NuRAN's management intends to actively monitor the bid price for its Shares and will consider all available options to regain compliance with the Nasdaq minimum bid price requirement.

The Company's business operations are not affected by the receipt of the Notification Letter.

About NuRAN Wireless

NuRAN Wireless Inc. (Nasdaq:NUR)(FSE:1RN) is a rural telecommunications infrastructure company connecting remote and underserved communities across Africa. Through its Network-as-a-Service model, NuRAN finances, builds, owns, operates and maintains 2G, 3G and 4G mobile network infrastructure for mobile network operators seeking to expand coverage outside urban markets.

NuRAN has more than 5,000 towers under contract, a portion of which have been built and are operating. Its platform combines telecommunications engineering, low-power wireless technology, renewable-energy-enabled infrastructure, site selection and field operations to address the economic and technical challenges of rural mobile coverage.

NuRAN is also building on this foundation through NuEnergy, its wholly owned subsidiary focused on owning and operating the Company's solar, storage and hybrid power systems across its African footprint.

Additional Information:

For further information about NuRAN Wireless: www.nuranwireless.com
Francis Létourneau, Director and CEO
[email protected]
Tel: (418) 264-1337

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, including the securities laws of the Province of British Columbia, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact are forward-looking statements. Forward-looking statements are generally, but not always, identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "potential," "project," "seek," "should," "target," "will," "would" and similar expressions, or by statements that certain events, actions or results "may," "could," "should," "would" or "will" occur, be achieved or be realized.

Forward-looking statements in this news release include, without limitation, statements regarding the Company's intention to monitor its minimum bid price, its consideration of available alternatives to regain compliance with Nasdaq's minimum bid price requirement, the Company's ability to regain compliance within the applicable compliance period, the potential implementation of a reverse stock split, the Company's potential eligibility for an additional compliance period and the continued listing of the Company's securities on the Nasdaq Capital Market.

Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those expressed or implied by such statements. Forward-looking statements are based on management's current expectations, estimates, assumptions and projections and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially, including risks relating to the Company's ability to regain compliance with Nasdaq's minimum bid price requirement; fluctuations in the market price and trading volume of the Company's Shares; the Company's ability to satisfy Nasdaq's continued listing requirements; Nasdaq's discretion in determining whether the Company has regained compliance or is eligible for an additional compliance period; the potential implementation and effectiveness of any reverse stock split; and the risk that Nasdaq may determine to delist the Company's securities.

Additional risks and uncertainties are described under "Risk Factors" and elsewhere in the Company's most recent annual report on Form 40-F, subsequent reports furnished on Form 6-K and other filings with the U.S. Securities and Exchange Commission, and in the Company's filings on SEDAR+ at www.sedarplus.ca

Readers are cautioned not to place undue reliance on forward-looking statements. There can be no assurance that the Company will regain compliance with Nasdaq's minimum bid price requirement, qualify for an additional compliance period or maintain its listing on the Nasdaq Capital Market. The forward-looking statements in this news release speak only as of its date and are expressly qualified in their entirety by this cautionary note. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE: NuRAN Wireless Inc.

View the original press release on ACCESS Newswire

L.Pelletier--SMC