NuRAN Provides Corporate Update
NuRAN Wireless Inc. (OTC PINK: NRRWF) has provided an operational update highlighting significant progress in Cameroon, where the first revenue-generating sites are expected by September. Final negotiations for a non-dilutive debt financing facility are underway. The company is also pursuing an up-listing to the OTCQB and has generated interest in its LiteCell xG product. NuRAN is bidding on a large RFP for multiple sites with a Tier-One operator in Africa. Challenges in Sierra Leone persist, but the overall outlook is positive with ongoing site acquisitions in the DRC.
- First revenue-generating sites in Cameroon expected by September.
- Negotiations for non-dilutive debt financing with a local bank are progressing.
- Interest in LiteCell xG has been strong, indicating potential for future sales.
- Bidding on a large RFP with a Tier-One Operator in Africa for multiple sites.
- Ongoing acquisition of sites in the DRC, with 50 sites targeted for 2021.
- Delays in Sierra Leone due to organizational changes.
QUEBEC, QC / ACCESSWIRE / August 25, 2021 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTC PINK:NRRWF)(FSE:1RN) is pleased to provide the following corporate update on operations:
- Final negotiations are being completed within Cameroon for a debt financing facility with a local commercial bank. Although NuRAN has the funds needed to complete the Cameroon contract, this cash can be preserved and partially used as collateral supporting non-dilutive debt. It is also important to note that the same local bank is also operating in the DRC and many other targeted countries therefore it may be possible to replicate a similar facility for much larger opportunities with the same partner. Management will update its shareholders of these developments as they unfold.
- Cameroon will see its first sites generating revenue in September. The initial 48 sites should all be completed and live by the end of October as previously planned. The 74 remaining sites of the initial Cameroon contract will be delivered before network freeze which happens on December 15. Eutelsat is on schedule to ensure that the first sites go live in September. The Cameroon revenue projections will also likely be increased as the selected sites are showing more population or better ARPU (‘Average Revenue Per User') than the initial projected business case analysis.
- NuRAN has initiated the process of up listing to the OTCQB markets in the United States. Management will keep its shareholders appraised of any development as they occur. Typical delays are between 6-8 weeks.
- The LiteCell xG initial marketing campaign has already generated much interest. The company is now building its pipeline of direct sales leads but is also simultaneously working on its sales channels through its NaaS business model. The first units are planned to be delivered to the Marshall Islands and Ghana.
- NuRAN has been selected to bid on a large RFP ("request for proposal") with a Tier-One Mobile Network Operator in Africa for multiple thousand sites in multiple countries using the NaaS business model. The proposal is due for early September. To avoid long delays and demonstrate our commitment to deliver rural connectivity across Africa, the company has already started the process of incorporation, licensing, and export permitting to accelerate the pace of deployment. We believe that this commitment will position NuRAN ahead of the competition to be selected for this massive rollout. NuRan will keep its shareholders updated as this RFP progresses.
- The Orange RFP process referenced in earlier press releases is still ongoing. Final review of the proposals is partially due for the end of August for at least two of the four targeted countries.
- The company is pleased to announce that it has managed to overcome many challenges such as sourcing of components, logistics, export permits and transportation. Management mitigation plans have worked well so far and largely attributable to the experienced and talented team at NuRAN.
- The DRC site acquisition has already begun as materials have already begun to be sent to the country. NuRAN is still on target to deliver over 50 sites in 2021. The Amos Spacecom Teleport hub is live and operational. The two teams met last week in Kinshasa to plan the roll out of sites. NuRan continues to build its strategy for airtime sales and distribution in DRC as well. This strategy could yield an additional
5% of revenue however and as importantly also help NuRAN to secure and maintain control of the sales and distribution channels of Orange products and services and therefore ensure that the company's revenue targets are met. - Sierra Leone is delayed by a few weeks due to organizational changes. The potential contract is still part of the Sierratel strategy to cover rural Sierra Leone.
- The recently announced MTN South Sudan MOU is progressing well. NuRAN and its partner Tandem have begun the initial site surveys while working on the agreement. Even if the agreement is not concluded, the two companies have made the commitment to move forward immediately. Being one of the most important MTN divisions, it is an excellent initial entry for NuRAN. The company has strategically started the licensing process as well as its incorporation to expedite the process. Management believes that this initiative will provide a boost to MTN/NuRan relationship. The objective is to demonstrate NuRAN's capabilities to execute and deliver quality networks in time.
About NuRAN Wireless
NuRAN Wireless is a leading supplier of mobile and broadband wireless infrastructure solutions. Its innovative radio access network (RAN), core network, and backhaul products dramatically drop the total cost of ownership, thereby creating new opportunities for established, as well as emerging mobile network operators. Indoor coverage, isolated rural communities, offshore platforms and ships, NuRAN Wireless helps its customers reach everyone, everywhere.
Additional Information
For further information about NuRAN Wireless: www.nuranwireless.com
Francis Letourneau,
Director and CEO
info@nuranwireless.com
Tel: (418) 264-1337
Frank Candido
Investor relations
Frank.candido@nuranwireless.com
Tel: (514) 969-5530
Cautionary Statement: Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "anticipates", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements include those relating to agreements with Orange Cameroon SA and the Company's guarantees of the build out of network sites project with GSMA in Ghana. Forward-looking statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, such as the uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, on NuRAN's business and the economy generally; NuRAN's ability to obtain financing for the proposed site build out under the agreement with Orange DRC, the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; NuRAN's ability to meet or exceed customers' demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in the Company's industry; compliance with local laws and regulations and ability to obtain permits for our operations in Cameroon, access to the credit and capital markets, changes in applicable telecommunications laws or regulations or changes in license and regulatory fees, downturns in customers' business cycles; and insurance prices and insurance coverage availability, the Company's ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; the Company's ability to successfully implement its business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; the Company's expansion into markets outside of Canada and the operational, competitive and regulatory risks facing the Company's non-Canadian based operations. Accordingly, readers should not place undue reliance on forward looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com.
SOURCE: NuRAN Wireless Inc.
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