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Nuran Wireless Inc. — Capital/Financing Update 2025
Sep 27, 2025
47280_rns_2025-09-26_b1167055-58ce-4d54-9142-7cfeb546e10c.pdf
Capital/Financing Update
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DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
FIFTH FACTORING AMENDING AGREEMENT
THIS FIFTH FACTORING AMENDING AGREEMENT (this “Fifth Amending Agreement”) is dated as of June 25, 2024, by and between NURAN WIRELESS INC., a corporation existing under the laws of the Province of British Columbia (the “Corporation”), and ADVANCE FACTORING INC., a corporation existing under the laws of the Province of Ontario (the “Factor”). The Corporation and the Factor are referred to as a “Party” and collectively as the “Parties”.
WHEREAS, the Parties entered into a factoring agreement dated August 28, 2023 (the “Factoring Agreement”);
AND WHEREAS the Parties entered into a factoring amending agreement dated August September 27, 2023 (the “Amending Agreement”), which was subsequently amended by a second factoring amending agreement dated November 29, 2023 (the “Second Amending Agreement”), which was subsequently amended by a third factoring amending agreement dated December 22, 2023 (the “Third Amending Agreement”), which was subsequently amended by a fourth factoring amending agreement dated April 2, 2024 (the “Fourth Amending Agreement”);
AND WHEREAS, all capitalized terms used in this Fifth Amending Agreement which are not otherwise defined herein will have the meanings ascribed thereto in the Factoring Agreement;
AND WHEREAS the Parties have agreed to further amend the terms of the Factoring Agreement as detailed herein;
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:
- The Parties hereby confirm that all payments pursuant to Section 4.5 in the Factoring Agreement, as amended pursuant Section 1 of the Fourth Amending Agreement, have been made.
- The Factor agrees to execute the waiver and subordination request attached hereto as Schedule “A” and the letter of commitment attached hereto as Schedule “B”.
- Effective as of April 2, 2024, Section 3 of the Fourth Amending Agreement is hereby amended to delete “Schedule 3 (revised April 2024)” with “Schedule 3 (revised April 2024 version 2)” attached hereto as Schedule “C”, effective as of April 2, 2024.
- Effective as of April 2, 2024, Section 1 of the Fourth Amending Agreement is hereby amended to delete the reference to “$11,986,052.44” and is hereby replaced with “$12,368,543.79”.
- The Parties hereby confirm that as of the date hereof (prior to the additional purchases below) the Factor is owed CAD$12,223,466.68 being comprised of CAD$10,502,690.16 (US$7,779,770.49) on account of Approved Accounts and $1,720,776.51 of accrued but unpaid interest. The CAD$10,502,690.16 (US$7,779,770.49) is a result of the Initial Approved Accounts that were subject to a Recourse Notice prior to the date hereof listed on Schedule “D” attached hereto, for a total of CAD$2,2027,470.68 comprised of CAD$1,865,853.63 (US$1,382,113.81) on account of Approved Accounts and CAD$161,617.05 of accrued interest.
- The reference to “US$1.35:CAD$1” in Schedule 1 in the Factoring Agreement is hereby deleted and replaced with “US$1.37:CAD$1”.
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
- Amend Section 4.5 in the Factoring Agreement, as amended by Section 1 of the Fourth Amending Agreement and herein, as follows:
(a) Delete the reference to “$12,368,543.79” and is hereby replaced with “$17,886,251.50”.
(b) Delete the reference to “$7,303,340.95” and is hereby replaced with “such amount equal to $7,303,340.95 plus USD$2,000,000, to be funded in USD or CAD at the Factor’s discretion”.
(c) Add 4.5.5 as follows: “cash payments totaling USD$2,000,000, to be funded in USD or CAD at the Factor’s discretion, payable to the Seller by wire, in tranches, within five (5) business days following a request by the Seller, provided that no single request exceeds USD$100,000 and ten (10) Business Days have passed since the prior request.”
-
The reference to “approximately 62.87%” in Schedule 1 in the Factoring Agreement is hereby deleted and replaced by “such percentage agreed to by the parties at such time for any future purchases”.
-
Schedule 3 in the Factoring Agreement, as amended pursuant to Section 8 of the Second Amending Agreement, as amended pursuant to Section 3 of the Fourth Amending Agreement, and herein, is hereby deleted and replaced with “Schedule 3 (revised June 2024)” attached hereto as Schedule “E”, which includes the repurchase of the following Initial Approved Accounts that were subject to a Recourse Notice prior to the date thereof:
| Invoice Category | Invoice number | Date | ($USD) | ($CAD) |
|---|---|---|---|---|
| Services – DRC | NR10283 | 2022-12-31 | $110,511.21 | $149,190.13 |
| Services – Cameroon | NR10258 | 2022-09-30 | $251,703.69 | $339,799.98 |
| Equipment – Cameroon | NR10145 | 2022-01-27 | $181,318.85 | $244,780.45 |
| TOTAL | $543,533.75 | $733,770.56 |
-
The reference to “30 days” in Section 13.1.9 in the Factoring Agreement, as amended pursuant to the Section 3 of the Amending Agreement to “60 days”, as amended pursuant to Section 6 of the Second Amending Agreement to “125 days”, as amended pursuant to Section 2 of the Third Amending Agreement to “156 days”, as amended pursuant to Section 9 of the Fourth Amending Agreement to “246 days”, is hereby deleted and replaced with “1 year”.
-
This Fifth Amending Agreement is conditional upon the Corporation fulfilling all the conditions precedent for an initial drawdown by the Corporation from the FEI Financing (or waived by the facility agent in respect of the FEI Financing, on or before July 15, 2024.
-
In all other respects the terms and conditions set forth in the Factoring Agreement and the Amending Agreement shall remain unamended.
-
It is agreed and understood that this Fifth Amending Agreement may be executed by way of facsimile transmission and, further, may be executed in any number of counterparts and all such counterparts shall, for all purposes, constitute one agreement binding on the Parties hereto, providing each party hereto has executed at least one counterpart, and shall be deemed to be an
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
original notwithstanding that all Parties are not signatory to the same counterpart.
- This Fifth Amending Agreement shall be governed by the laws of the Province of British Columbia and the laws of Canada applicable therein.
[SIGNATURE PAGE FOLLOWS]
3
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
IN WITNESS WHEREOF the Parties have executed this Fifth Amending Agreement as of the date first above written.
NURAN WIRELESS INC.
/s/ "Francis Letourneau"
Per: Authorized Signatory
ADVANCE FACTORING INC.
/s/ "Shimshon Posen"
Per: Authorized Signatory
Pursuant to the Guarantee between the Parties dated August 28, 2023, the undersigned hereby acknowledges and confirms that the amounts included in this Fifth Amending Agreement are covered by the Guarantee.
NURAN WIRELESS INC.
/s/ "Francis Letourneau"
Per: Authorized Signatory
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
SCHEDULE “A”
WAIVER AND SUBORDINATION REQUEST
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
SCHEDULE “B”
LETTER OF COMMITMENT
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
SCHEDULE “C”
WAIVER AND SUBORDINATION REQUEST
Schedule 3 (April 2024 version 2)
Initial Approved Accounts
Deemed Exchange Rate (USD:CAD) 1.35
| Category | ($USD) | ($CAD) |
|---|---|---|
| Equipment – DRC | $868,291.77 | $1,172,193.89 |
| Equipment – Cameroon | $779,252.12 | $1,051,990.36 |
| Services – DRC | $3,235,535.69 | $4,367,973.18 |
| Services – Cameroon | $3,152,830.91 | $4,256,321.73 |
| MINTA | $1,125,973.80 | $1,520,064.63 |
| TOTAL | $9,161,884.29 | $12,368,543.79 |
COMPRISED OF THE FOLLOWING
| Invoice Category | Invoice number | Date | ($USD) | ($CAD) | Notes |
|---|---|---|---|---|---|
| Equipment – DRC | NR10127 | 2021-11-25 | $287,266.65 | $387,809.98 | |
| Equipment – DRC | NR10143 | 2021-12-08 | $30,460.22 | $41,121.30 | |
| Equipment – DRC | NR10189 | 2022-06-17 | $354,776.55 | $478,948.34 | |
| Equipment – DRC | NR10207 | 2022-08-24 | $87,472.00 | $118,087.20 | |
| Equipment – DRC | NR10207 | 2022-08-24 | $1,897.35 | $2,561.42 | |
| Equipment – DRC | NR10207 | 2022-08-24 | $106,419.00 | $143,665.65 | |
| Equipment – DRC | TOTAL | $868,291.77 | $1,172,193.89 | ||
| Equipment – Cameroon | NR10107 | 2021-08-01 | $31,026.90 | $41,886.32 | |
| --- | --- | --- | --- | --- | --- |
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
| Equipment – Cameroon | NR10109 | 2021-08-01 | $279,044.15 | $376,709.60 | |
|---|---|---|---|---|---|
| Equipment – Cameroon | NR10145 | 2022-01-27 | $181,318.85 | $244,780.45 | |
| Equipment – Cameroon | NR10187 | 2022-06-07 | $171,773.55 | $231,894.29 | Recourse Notice (March 20, 2024) |
| Equipment – Cameroon | NR10187 | 2022-06-07 | $171,773.55 | $231,894.29 | Added Pursuant to 4th Amendment |
| Equipment – Cameroon | NR10190 | 2022-06-08 | $1,402.12 | $1,892.86 | |
| Equipment – Cameroon | NR10206 | 2022-08-24 | $27,651.00 | $37,328.85 | |
| Equipment – Cameroon | NR10206 | 2022-08-24 | $39,350.85 | $53,123.65 | |
| Equipment – Cameroon | NR10206 | 2022-08-24 | $24,281.70 | $32,780.30 | |
| Equipment – Cameroon | $23,403.00 | $31,594.05 | |||
| Equipment – Cameroon | TOTAL | $779,252.12 | $1,051,990.36 | ||
| Services – DRC | NR10248 | 2022-09-30 | $77,333.50 | $104,400.23 | |
| Services – DRC | NR10250 | 2022-09-30 | $418,021.62 | $564,329.19 | |
| Services – DRC | NR10252 | 2022-09-30 | $382,565.46 | $516,463.37 | |
| Services – DRC | NR10256 | 2022-09-30 | $234,000.00 | $315,900.00 | |
| Services – DRC | NR10280 | 2022-12-31 | $40,158.52 | $54,214.00 | |
| Services – DRC | NR10281 | 2022-12-31 | $87,170.95 | $117,680.78 | |
| Services – DRC | NR10283 | 2022-12-31 | $110,511.21 | $149,190.13 | Recourse Notice (March 7, 2024) |
| Services – DRC | NR10283 | 2022-12-31 | $110,511.21 | $149,190.13 | Added Pursuant to 4th Amendment |
| Services – DRC | NR10286 | 2022-12-31 | $376,800.00 | $508,680.00 | Added Pursuant to 4th Amendment |
| Services – DRC | NR10299 | 2023-03-31 | $19,487.50 | $26,308.13 | |
| Services – DRC | NR10301 | 2023-03-31 | $66,799.78 | $90,179.70 | |
| Services – DRC | NR10303 | 2023-03-31 | $107,436.27 | $145,038.96 | |
| Services – DRC | NR10305 | 2023-03-31 | $200,000.00 | $270,000.00 | Added Pursuant to 4th Amendment |
| Services – DRC | NR10341 | 2023-06-30 | $15,337.50 | $20,705.63 | |
| Services – DRC | NR10340 | 2023-06-30 | $72,968.75 | $98,507.81 | |
| Services – DRC | NR10339 | 2023-06-30 | $200,000.00 | $270,000.00 | |
| Services – DRC | NR10338 | 2023-06-30 | $86,050.27 | $116,167.86 | |
| Services – DRC | NR10353 | 2023-07-31 | $123,381.45 | $166,564.96 | Recourse Notice (Feb. 22, 2024) |
| Services – DRC | NR10353 | 2023-07-31 | $123,381.45 | $166,564.96 | Added Pursuant to 4th Amendment |
B-2
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
| Services – DRC | NR10356 | 2023-08-31 | $124,291.45 | $167,793.46 | Added Pursuant to 4th Amendment |
|---|---|---|---|---|---|
| Services – DRC | NR10358 | 2023-09-30 | $124,088.17 | $167,519.03 | Added Pursuant to 4th Amendment |
| Services – DRC | NR10367 | 2023-10-31 | $121,030.52 | $163,391.20 | Added Pursuant to 4th Amendment |
| Services – DRC | NR10374 | 2023-12-31 | $124,176.91 | $167,638.83 | Added Pursuant to 4th Amendment |
| Services – DRC | FAC/2024/00005 | 2024-01-31 | $123,925.86 | $167,299.91 | Added Pursuant to 4th Amendment |
| Services – DRC | TOTAL | $3,235,535.69 | $4,367,973.18 | ||
| Services – Cameroon | NR10242 | 2022-09-30 | $77,333.50 | $104,400.23 | |
| --- | --- | --- | --- | --- | --- |
| Services – Cameroon | NR10244 | 2022-09-30 | $418,021.62 | $564,329.19 | |
| Services – Cameroon | NR10246 | 2022-09-30 | $358,655.26 | $484,184.60 | |
| Services – Cameroon | NR10254 | 2022-09-30 | $234,000.00 | $315,900.00 | |
| Services – Cameroon | NR10258 | 2022-09-30 | $251,703.69 | $339,799.98 | |
| Services – Cameroon | NR10279 | 2022-12-31 | $40,158.52 | $54,214.00 | |
| Services – Cameroon | NR10282 | 2022-12-31 | $87,170.95 | $117,680.78 | |
| Services – Cameroon | NR10284 | 2022-12-31 | $110,511.21 | $149,190.13 | Recourse Notice (Feb. 13, 2024) |
| Services – Cameroon | NR10284 | 2022-12-31 | $110,511.21 | $149,190.13 | Added Pursuant to 4th Amendment |
| Services – Cameroon | NR10285 | 2022-12-31 | $94,200.00 | $127,170.00 | |
| Services – Cameroon | NR10288 | 2022-12-31 | $168,272.88 | $227,168.39 | |
| Services – Cameroon | NR10289 | 2022-12-31 | $58,595.43 | $79,103.83 | Recourse Notice (Feb. 12, 2024) |
| Services – Cameroon | NR10289 | 2022-12-31 | $58,595.43 | $79,103.83 | Added Pursuant to 4th Amendment |
| Services – Cameroon | NR10298 | 2023-03-31 | $22,926.48 | $30,950.75 | |
| Services – Cameroon | NR10300 | 2023-03-31 | $78,588.00 | $106,093.80 | Recourse Notice (Feb. 2, 2024) |
| Services – Cameroon | NR10300 | 2023-03-31 | $78,588.00 | $106,093.80 | Added Pursuant to 4th Amendment |
| Services – Cameroon | NR10302 | 2023-03-31 | $126,395.66 | $170,634.14 | Recourse Notice (Jan. 31, 2024) |
| Services – Cameroon | NR10302 | 2023-03-31 | $126,395.66 | $170,634.14 | Added Pursuant to 4th Amendment |
| Services – Cameroon | NR10304 | 2023-03-31 | $58,823.55 | $79,411.79 | Recourse Notice (Feb. 7, 2024) |
| Services – Cameroon | NR10304 | 2023-03-31 | $58,823.55 | $79,411.79 | Added Pursuant to 4th Amendment |
| Services – Cameroon | NR10337 | 2023-06-30 | $18,044.12 | $24,359.56 | |
| Services – Cameroon | NR10336 | 2023-06-30 | $85,845.62 | $115,891.59 |
B-3
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
| Services – Cameroon | NR10335 | 2023-06-30 | $58,823.55 | $79,411.79 | |
|---|---|---|---|---|---|
| Services – Cameroon | NR10334 | 2023-06-30 | $101,235.65 | $136,668.13 | |
| Services – Cameroon | NR10352 | 2023-07-31 | $86,331.14 | $116,547.04 | |
| Services – Cameroon | NR10355 | 2023-08-31 | $87,401.70 | $117,992.30 | Added Pursuant to 4th Amendment |
| Services – Cameroon | NR10357 | 2023-09-30 | $87,162.58 | $117,669.48 | Added Pursuant to 4th Amendment |
| Services – Cameroon | NR10370 | 2023-11-30 | $88,652.58 | $119,680.98 | Added Pursuant to 4th Amendment |
| Services – Cameroon | NR10375 | 2023-12-31 | $87,266.98 | $117,810.42 | Added Pursuant to 4th Amendment |
| Services – Cameroon | FAC/2024/00006 | 2024-01-31 | $86,971.63 | $117,411.70 | Added Pursuant to 4th Amendment |
| Services – Cameroon | FAC/2024/00010 | 2024-02-29 | $89,927.76 | $121,402.48 | Added Pursuant to 4th Amendment |
| Services – Cameroon | FAC/2024/00018 | 2024-03-31 | $89,810.85 | $121,244.65 | Added Pursuant to 4th Amendment |
| Services – Cameroon | TOTAL | $3,152,830.91 | $4,256,321.73 | ||
| Invoice Category | Date | ($USD) | ($USD) Increase | ($CAD) | ($CAD) Increased amount see s. 4 of 4th Amendment |
| --- | --- | --- | --- | --- | --- |
| MINTA | Dec-23 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Jan-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Feb-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Mar-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Apr-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | May-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Jun-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Jul-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Aug-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Sep-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Oct-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Nov-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Dec-24 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Jan-25 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Feb-25 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| MINTA | Mar-25 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
B-4
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
| MINTA | Apr-25 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
|---|---|---|---|---|---|
| MINTA | May-25 | $47,554.10 | $62,554.10 | $64,198.04 | $84,448.04 |
| TOTAL | $855,973.80 | $1,125,973.80 | $1,155,564.63 | $1,520,064.63 |
B-5
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
SCHEDULE “D”
RECOURSE NOTICES
| Recourse # | Recourse Date | Invoice Category | Invoice # | Invoice Date | Invoice ($USD) | Invoice ($CAD) | Interest Paid ($CAD) |
|---|---|---|---|---|---|---|---|
| 1 | 31-Jan-24 | Services – Cameroon | NR10302 | 2023-03-31 | $126,395.66 | $170,634.14 | $12,388.51 |
| 2 | 2-Feb-24 | Services – Cameroon | NR10300 | 2023-03-31 | $78,588.00 | $106,093.80 | $7,848.03 |
| 3 | 7-Feb-24 | Services – Cameroon | NR10304 | 2023-03-31 | $58,823.55 | $79,411.79 | $6,146.25 |
| 4 | 12-Feb-24 | Services – Cameroon | NR10289 | 2022-12-31 | $58,595.43 | $79,103.83 | $6,393.32 |
| 5 | 13-Feb-24 | Services – Cameroon | NR10284 | 2022-12-31 | $110,511.21 | $149,190.13 | $12,160.02 |
| 6 | 22-Feb-24 | Services – DRC | NR10353 | 2023-07-31 | $123,381.45 | $166,564.96 | $14,602.96 |
| 7 | 7-Mar-24 | Services – DRC | NR10283 | 2022-12-31 | $110,511.21 | $149,190.13 | $14,510.27 |
| 8 | 20-Mar-24 | Equipment – Cameroon | NR10187 | 2022-06-07 | $171,773.55 | $231,894.29 | $24,618.91 |
| 9 | 15-Apr-24 | Services – DRC | NR10283 | 2022-12-31 | $110,511.21 | $149,190.13 | $18,495.49 |
| 10 | 25-Apr-24 | Services – Cameroon | NR10258 | 2022-09-30 | $251,703.69 | $339,799.98 | $44,453.29 |
| 11 | 24-Jun-24 | Equipment – Cameroon | NR10145 | 2022-01-27 | $181,318.85 | $244,780.45 | |
| TOTAL | $1,382,113.81 | $1,865,853.63 | $161,617.05 |
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
SCHEDULE “E”
WAIVER AND SUBORDINATION REQUEST
Schedule 3 (revised June 2024)
Initial Approved Accounts
Deemed Exchange Rate (USD:CAD) 1.37
| Category | ($USD) | ($CAD) |
|---|---|---|
| Equipment – DRC | $868,291.77 | $1,189,559.72 |
| Equipment – Cameroon | $779,252.12 | $1,067,575.40 |
| Services – DRC | $3,866,243.55 | $5,296,753.66 |
| Services – Cameroon | $3,415,896.79 | $4,679,778.60 |
| MINTA | $1,125,973.80 | $1,542,584.11 |
| New Invoices | $3,000,000.00 | $4,110,000.00 |
| TOTAL | $13,055,658.03 | $17,886,251.50 |
COMPRISED OF THE FOLLOWING
| Invoice Category | Invoice number | Date | ($USD) | ($CAD) | Notes |
|---|---|---|---|---|---|
| Equipment – DRC | NR10127 | 2021-11-25 | $287,266.65 | $393,555.31 | |
| Equipment – DRC | NR10143 | 2021-12-08 | $30,460.22 | $41,730.50 | |
| Equipment – DRC | NR10189 | 2022-06-17 | $354,776.55 | $486,043.87 | |
| Equipment – DRC | NR10207 | 2022-08-24 | $87,472.00 | $119,836.64 | |
| Equipment – DRC | NR10207 | 2022-08-24 | $1,897.35 | $2,599.37 | |
| Equipment – DRC | NR10207 | 2022-08-24 | $106,419.00 | $145,794.03 | |
| Equipment – DRC | TOTAL | $868,291.77 | $1,189,559.72 |
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
| Equipment – Cameroon | NR10107 | 2021-08-01 | $31,026.90 | $42,506.85 | |
|---|---|---|---|---|---|
| Equipment – Cameroon | NR10109 | 2021-08-01 | $279,044.15 | $382,290.49 | |
| Equipment – Cameroon | NR10145 | 2022-01-27 | $181,318.85 | $248,406.82 | Recourse Notice (June 24, 2024) |
| Equipment – Cameroon | NR10145 | 2022-01-27 | $181,318.85 | $248,406.82 | Added Pursuant to 5th Amendment |
| Equipment – Cameroon | NR10187 | 2022-06-07 | $171,773.55 | $235,329.76 | |
| Equipment – Cameroon | NR10190 | 2022-06-08 | $1,402.12 | $1,920.90 | |
| Equipment – Cameroon | NR10206 | 2022-08-24 | $27,651.00 | $37,881.87 | |
| Equipment – Cameroon | NR10206 | 2022-08-24 | $39,350.85 | $53,910.66 | |
| Equipment – Cameroon | NR10206 | 2022-08-24 | $24,281.70 | $33,265.93 | |
| Equipment – Cameroon | $23,403.00 | $32,062.11 | |||
| Equipment – Cameroon | TOTAL | $779,252.12 | $1,067,575.40 | ||
| Services – DRC | NR10248 | 2022-09-30 | $77,333.50 | $105,946.90 | |
| --- | --- | --- | --- | --- | --- |
| Services – DRC | NR10250 | 2022-09-30 | $418,021.62 | $572,689.62 | |
| Services – DRC | NR10252 | 2022-09-30 | $382,565.46 | $524,114.68 | |
| Services – DRC | NR10256 | 2022-09-30 | $234,000.00 | $320,580.00 | |
| Services – DRC | NR10280 | 2022-12-31 | $40,158.52 | $55,017.17 | |
| Services – DRC | NR10281 | 2022-12-31 | $87,170.95 | $119,424.20 | |
| Services – DRC | NR10283 | 2022-12-31 | $110,511.21 | $151,400.36 | Recourse Notice (April 15, 2024) |
| Services – DRC | NR10283 | 2022-12-31 | $110,511.21 | $151,400.36 | Added Pursuant to 5th Amendment |
| Services – DRC | NR10286 | 2022-12-31 | $376,800.00 | $516,216.00 | |
| Services – DRC | NR10299 | 2023-03-31 | $19,487.50 | $26,697.88 | |
| Services – DRC | NR10301 | 2023-03-31 | $66,799.78 | $91,515.70 | |
| Services – DRC | NR10303 | 2023-03-31 | $107,436.27 | $147,187.69 | |
| Services – DRC | NR10305 | 2023-03-31 | $200,000.00 | $274,000.00 | |
| Services – DRC | NR10341 | 2023-06-30 | $15,337.50 | $21,012.38 | |
| Services – DRC | NR10340 | 2023-06-30 | $72,968.75 | $99,967.19 | |
| Services – DRC | NR10339 | 2023-06-30 | $200,000.00 | $274,000.00 | |
| Services – DRC | NR10338 | 2023-06-30 | $86,050.27 | $117,888.87 |
C-2
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
| Services – DRC | NR10353 | 2023-07-31 | $123,381.45 | $169,032.59 | |
|---|---|---|---|---|---|
| Services – DRC | NR10356 | 2023-08-31 | $124,291.45 | $170,279.29 | |
| Services – DRC | NR10358 | 2023-09-30 | $124,088.17 | $170,000.79 | |
| Services – DRC | NR10367 | 2023-10-31 | $121,030.52 | $165,811.81 | |
| Services – DRC | NR10374 | 2023-12-31 | $124,176.91 | $170,122.37 | |
| Services – DRC | FAC/2024/00005 | 2024-01-31 | $123,925.86 | $169,778.43 | |
| Services – DRC | NR10369 | 2023-11-30 | $125,354.67 | $171,735.90 | Added Pursuant to 5th Amendment |
| Services – DRC | FAC/2024/00011 | 2024-02-29 | $126,438.57 | $173,220.84 | Added Pursuant to 5th Amendment |
| Services – DRC | FAC/2024/00017 | 2024-03-31 | $126,339.20 | $173,084.70 | Added Pursuant to 5th Amendment |
| Services – DRC | FAC/2024/00031 | 2024-04-30 | $125,957.06 | $172,561.17 | Added Pursuant to 5th Amendment |
| Services – DRC | FAC/2024/00035 | 2024-05-31 | $126,618.36 | $173,467.15 | Added Pursuant to 5th Amendment |
| Services – DRC | TOTAL | $3,866,243.55 | $5,296,753.66 | ||
| Services – Cameroon | NR10242 | 2022-09-30 | $77,333.50 | $105,946.90 | |
| --- | --- | --- | --- | --- | --- |
| Services – Cameroon | NR10244 | 2022-09-30 | $418,021.62 | $572,689.62 | |
| Services – Cameroon | NR10246 | 2022-09-30 | $358,655.26 | $491,357.71 | |
| Services – Cameroon | NR10254 | 2022-09-30 | $234,000.00 | $320,580.00 | |
| Services – Cameroon | NR10258 | 2022-09-30 | $251,703.69 | $344,834.06 | Recourse Notice (April 25, 2024) |
| Services – Cameroon | NR10258 | 2022-09-30 | $251,703.69 | $344,834.06 | Added Pursuant to 5th Amendment |
| Services – Cameroon | NR10279 | 2022-12-31 | $40,158.52 | $55,017.17 | |
| Services – Cameroon | NR10282 | 2022-12-31 | $87,170.95 | $119,424.20 | |
| Services – Cameroon | NR10284 | 2022-12-31 | $110,511.21 | $151,400.36 | |
| Services – Cameroon | NR10285 | 2022-12-31 | $94,200.00 | $129,054.00 | |
| Services – Cameroon | NR10288 | 2022-12-31 | $168,272.88 | $230,533.85 | |
| Services – Cameroon | NR10289 | 2022-12-31 | $58,595.43 | $80,275.74 | |
| Services – Cameroon | NR10298 | 2023-03-31 | $22,926.48 | $31,409.28 | |
| Services – Cameroon | NR10300 | 2023-03-31 | $78,588.00 | $107,665.56 | |
| Services – Cameroon | NR10302 | 2023-03-31 | $126,395.66 | $173,162.05 | |
| Services – Cameroon | NR10304 | 2023-03-31 | $58,823.55 | $80,588.26 |
C-3
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
| Services – Cameroon | NR10337 | 2023-06-30 | $18,044.12 | $24,720.44 | |
|---|---|---|---|---|---|
| Services – Cameroon | NR10336 | 2023-06-30 | $85,845.62 | $117,608.50 | |
| Services – Cameroon | NR10335 | 2023-06-30 | $58,823.55 | $80,588.26 | |
| Services – Cameroon | NR10334 | 2023-06-30 | $101,235.65 | $138,692.84 | |
| Services – Cameroon | NR10352 | 2023-07-31 | $86,331.14 | $118,273.66 | |
| Services – Cameroon | NR10355 | 2023-08-31 | $87,401.70 | $119,740.33 | |
| Services – Cameroon | NR10357 | 2023-09-30 | $87,162.58 | $119,412.73 | |
| Services – Cameroon | NR10370 | 2023-11-30 | $88,652.58 | $121,454.03 | |
| Services – Cameroon | NR10375 | 2023-12-31 | $87,266.98 | $119,555.76 | |
| Services – Cameroon | FAC/2024/00006 | 2024-01-31 | $86,971.63 | $119,151.13 | |
| Services – Cameroon | FAC/2024/00010 | 2024-02-29 | $89,927.76 | $123,201.03 | |
| Services – Cameroon | FAC/2024/00018 | 2024-03-31 | $89,810.85 | $123,040.86 | |
| Services – Cameroon | NR10366 | 2023-10-31 | $83,565.34 | $114,484.52 | Added Pursuant to 5th Amendment |
| Services – Cameroon | FAC/2024/00032 | 2024-04-30 | $89,361.27 | $122,424.94 | Added Pursuant to 5th Amendment |
| Services – Cameroon | FAC/2024/00036 | 2024-05-31 | $90,139.27 | $123,490.80 | Added Pursuant to 5th Amendment |
| Services – Cameroon | TOTAL | $3,415,896.79 | $4,679,778.60 | ||
| Invoice Category | Date | ($USD) | ($USD) Increase | ($CAD) | ($CAD) Increased amount see s. 4 of 4th Amendment |
| --- | --- | --- | --- | --- | --- |
| MINTA | Dec-23 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Jan-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Feb-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Mar-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Apr-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | May-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Jun-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Jul-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Aug-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Sep-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Oct-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
C-4
DocuSign Envelope ID: 76DB0D9A-77CF-46E6-AE6C-B250E57959CA
| MINTA | Nov-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
|---|---|---|---|---|---|
| MINTA | Dec-24 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Jan-25 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Feb-25 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Mar-25 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | Apr-25 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| MINTA | May-25 | $47,554.10 | $62,554.10 | $65,149.12 | $85,699.12 |
| TOTAL | $855,973.80 | $1,125,973.80 | $1,172,684.11 | $1,542,584.11 | |
| Invoice Category | Invoice number | Date | ($USD) | ($CAD) | Notes |
| --- | --- | --- | --- | --- | --- |
| Monthly Service Invoice | Jul-24 | $200,000.00 | $274,000.00 | Added Pursuant to 5th Amendment | |
| Monthly Service Invoice | Aug-24 | $200,000.00 | $274,000.00 | Added Pursuant to 5th Amendment | |
| Monthly Service Invoice | Sep-24 | $200,000.00 | $274,000.00 | Added Pursuant to 5th Amendment | |
| Monthly Service Invoice | Oct-24 | $200,000.00 | $274,000.00 | Added Pursuant to 5th Amendment | |
| Monthly Service Invoice | Nov-24 | $200,000.00 | $274,000.00 | Added Pursuant to 5th Amendment | |
| Monthly Service Invoice | Dec-24 | $200,000.00 | $274,000.00 | Added Pursuant to 5th Amendment | |
| New Equipment Invoices | Jul-24 | $300,000.00 | $411,000.00 | Added Pursuant to 5th Amendment | |
| New Equipment Invoices | Aug-24 | $300,000.00 | $411,000.00 | Added Pursuant to 5th Amendment | |
| New Equipment Invoices | Sep-24 | $300,000.00 | $411,000.00 | Added Pursuant to 5th Amendment | |
| New Equipment Invoices | Oct-24 | $300,000.00 | $411,000.00 | Added Pursuant to 5th Amendment | |
| New Equipment Invoices | Nov-24 | $300,000.00 | $411,000.00 | Added Pursuant to 5th Amendment | |
| New Equipment Invoices | Dec-24 | $300,000.00 | $411,000.00 | Added Pursuant to 5th Amendment | |
| New Invoices | TOTAL | $3,000,000.00 | $4,110,000.00 |
C-5