WINNIPEG, Jan. 5, 2018 /CNW/ - Novra Technologies Inc. ("Novra") (TSX-V: NVI) announces that it has completed the acquisition of the 51% controlling interest of Wegener Corporation ("Wegener") effective December 29, 2017, after concluding a successful debt restructuring with Wegener's major secured creditor.
Harris Liontas, President and CEO stated, "I'm very pleased that we have closed the first phase of the two-step approach for acquiring 100% of Wegener. I am also thrilled that Wegener's major secured creditor believes in our vision and strategy. Subject to completing the remaining 49% acquisition by December 31, 2019, the restructured debt with this secured creditor will be extended up to eight years with flexible repayment terms at a low financing cost."
About Novra Technologies Inc.:
Novra (TSX-V: NVI) is an international technology provider of products, systems and services for the distribution of multimedia broadband content. Novra's applications focus includes: broadcast video and radio, digital cinema, digital signage, and highly reliable data communications.
For more information visit: www.novragroup.com
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SOURCE Novra Technologies Inc.