NuRAN Receives Second Drawdown of US$ 1.05M from Cygnum Capital
NuRAN Wireless has secured approval for a second drawdown of US$1.05M from the Facility for Energy Inclusion (FEI), managed by Cygnum Capital. This follows their first drawdown of US$2.5M received on July 16, 2024, as part of a US$5M loan facility agreement announced on April 26, 2024.
The company plans to allocate these funds to expand its Network as a Service (NaaS) operations in Cameroon, where recent results have exceeded expectations. The investment will support the construction of renewable energy-powered mobile infrastructure to connect rural and underserved communities. NuRAN aims to accelerate deployments and strengthen financial performance with the goal of achieving EBITDA positive status.
NuRAN Wireless ha ottenuto l'approvazione per un secondo prelievo di 1,05 milioni di dollari USA dal Facility for Energy Inclusion (FEI), gestito da Cygnum Capital. Questo segue il primo prelievo di 2,5 milioni di dollari USA ricevuto il 16 luglio 2024, nell'ambito di un accordo di prestito di 5 milioni di dollari USA annunciato il 26 aprile 2024.
L'azienda prevede di destinare questi fondi all'espansione delle sue operazioni di Network as a Service (NaaS) in Camerun, dove i risultati recenti hanno superato le aspettative. L'investimento supporterà la costruzione di infrastrutture mobili alimentate da energia rinnovabile per connettere comunità rurali e svantaggiate. NuRAN mira ad accelerare i dispiegamenti e rafforzare le performance finanziarie con l'obiettivo di raggiungere uno stato di EBITDA positivo.
NuRAN Wireless ha obtenido la aprobación para un segundo desembolso de 1,05 millones de dólares estadounidenses del Facility for Energy Inclusion (FEI), gestionado por Cygnum Capital. Esto sigue a su primer desembolso de 2,5 millones de dólares estadounidenses recibido el 16 de julio de 2024, como parte de un acuerdo de préstamo de 5 millones de dólares estadounidenses anunciado el 26 de abril de 2024.
La empresa planea destinar estos fondos para expandir sus operaciones de Network as a Service (NaaS) en Camerún, donde los resultados recientes han superado las expectativas. La inversión apoyará la construcción de infraestructura móvil alimentada por energía renovable para conectar comunidades rurales y desatendidas. NuRAN tiene como objetivo acelerar los despliegues y fortalecer el rendimiento financiero con la meta de alcanzar un estado positivo de EBITDA.
NuRAN Wireless는 Cygnum Capital이 관리하는 에너지 포용 기금(Facility for Energy Inclusion, FEI)에서 105만 달러의 두 번째 인출 승인을 받았습니다. 이는 2024년 7월 16일에 받은 250만 달러의 첫 번째 인출에 이어지는 것으로, 2024년 4월 26일에 발표된 500만 달러의 대출 계약의 일환입니다.
회사는 이 자금을 카메룬에서의 Network as a Service (NaaS) 운영 확장을 위해 사용할 계획입니다. 최근 결과가 기대를 초과했습니다. 이 투자로 인해 농촌 및 소외된 지역 사회를 연결하는 재생 가능 에너지를 이용한 모바일 인프라 구축이 지원될 것입니다. NuRAN은 배치를 가속화하고 재무 성과를 강화하여 EBITDA 긍정 상태를 달성하는 것을 목표로 하고 있습니다.
NuRAN Wireless a obtenu l'approbation pour un deuxième tirage de 1,05 million de dollars américains du Facility for Energy Inclusion (FEI), géré par Cygnum Capital. Cela fait suite à leur premier tirage de 2,5 millions de dollars américains reçu le 16 juillet 2024, dans le cadre d'un accord de prêt de 5 millions de dollars américains annoncé le 26 avril 2024.
L'entreprise prévoit d'allouer ces fonds à l'expansion de ses opérations de Network as a Service (NaaS) au Cameroun, où les résultats récents ont dépassé les attentes. L'investissement soutiendra la construction d'infrastructures mobiles alimentées par des énergies renouvelables pour connecter des communautés rurales et défavorisées. NuRAN vise à accélérer les déploiements et à renforcer la performance financière dans le but d'atteindre un statut EBITDA positif.
NuRAN Wireless hat die Genehmigung für eine zweite Abhebung von 1,05 Millionen US-Dollar aus dem Facility for Energy Inclusion (FEI), das von Cygnum Capital verwaltet wird, erhalten. Dies folgt auf die erste Abhebung von 2,5 Millionen US-Dollar, die am 16. Juli 2024 erhalten wurde, im Rahmen eines 5 Millionen US-Dollar Darlehensvertrags, der am 26. April 2024 angekündigt wurde.
Das Unternehmen plant, diese Mittel zur Erweiterung seiner Network as a Service (NaaS) Aktivitäten in Kamerun zu verwenden, wo die jüngsten Ergebnisse die Erwartungen übertroffen haben. Die Investition wird den Bau von mobilen Infrastrukturen unterstützen, die mit erneuerbarer Energie betrieben werden, um ländliche und unterversorgte Gemeinschaften zu verbinden. NuRAN zielt darauf ab, die Einsätze zu beschleunigen und die finanzielle Leistung zu stärken, mit dem Ziel, einen positiven EBITDA-Status zu erreichen.
- Secured additional US$1.05M funding from FEI
- Operations in Cameroon exceeding expectations
- Progress toward EBITDA positive status
- Expanding NaaS infrastructure in growing market
- Company still not EBITDA positive
- Increasing debt with new drawdown
QUEBEC, QC / ACCESS Newswire / February 28, 2025 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTCQB:NRRWF)(FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, is pleased to announce that it has received approval for the second drawdown of US
Following the recently announced impressive results which continue to exceed expectations in Cameroon, NuRAN has chosen to dedicate more resources to the region, reinforcing its commitment to accelerate deployments and strengthen its financial performance under the objective of achieveing EBITDA positive as soon as possible. The second drawdown will support the expansion of its Network as a Service ("NaaS") operations in Cameroon, allowing the Company, further from previously announced objectives to construct renewable energy-powered mobile infrastructure to connect rural and underserved communities.
"We are grateful to Cygnum Capital and the Facility for Energy Inclusion for their continued support and flexibility," said Francis Létourneau, CEO of NuRAN Wireless Inc. "The receipt of this second drawdown is a testament to the strong partnership between NuRAN and FEI as we continue our mission to expand mobile connectivity in remote areas across Africa. These funds will help us achieve further significant progress towards our 2025 objectives."
The first drawdown, which was announced on July 16, 2024, was allocated toward operational and construction costs for the deployment of mobile network infrastructure in Cameroon.
NuRAN Wireless remains committed to bridging the digital divide by deploying affordable, renewable-powered mobile networks to rural Africa, providing greater access to communication, education, and economic opportunities.
About Cygnum Capital
Cygnum Capital Group is an investment bank and asset manager, operating across frontier and emerging markets. Cygnum Capital Asset Management manages five pioneering funds: four debt funds including: (i) the African Local Currency Bond Fund ("ALCBF"), a ground-breaking investment vehicle established to support local currency capital markets, (ii) Off-Grid Energy Access Fund ("OGEF") which supports companies in off-grid energy such as SHS and small- medium mini-grids, (iii) FEI which support companies that provide a range of renewable energy solutions such as medium-large mini- grids, C&I and IPP with a maximum capacity of 25 MW, and (iv) AfricaGoGreen Fund ("AGG") which supports companies combating climate change by reducing the use of fossil fuels through new technologies and that increase energy efficiency and promote economic development in high impact target sectors; and a VC private equity fund (v) E3 Low Carbon Economy Fund for Africa ("E3 LCEF") which invests in climate-smart services, digital connectivity & applications, low-carbon productivity enablers. Cygnum Capital Asset Management has over
About the Facility for Energy Inclusion
FEI is designed to support small-scale independent power producers delivering power to the grid, mini-grids, commercial and industrial and captive power projects. FEI was set up by the African Development Bank ("AfDB") as part of its New Deal for Africa initiative. In addition to the investment by the AfDB, FEI received equity funding from the German Federal Ministry for Economic Cooperation and Development through KfW and Norfund and loan commitments from the Austrian Development Bank and the International Finance Corporation (IFC). The AfDB also invested on behalf of the Clean Technology Fund and the European Commission.
The transaction was supported by FEI's Project Preparation Facility ("PPF"), funded by the Global Environment Facility, through the AfDB. The PPF provides returnable grant funding for last-mile processes crucial to closing transactions and to fund due diligence and preparatory costs incurred in establishing innovative structures or transactions that FEI seeks to lend to.
About NuRAN Wireless
NuRAN Wireless is a leading rural telecommunications company that meets the growing demand for wireless network coverage in remote and rural regions around the globe. With its affordable and innovative scalable solutions of 2G, 3G, and 4G technologies, NuRAN Wireless offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably. "Bridging the Digital Divide, One Connection at a Time."
Additional Information:
For further information about NuRAN Wireless: www.nuranwireless.com
Francis Létourneau,
Director and CEO
Francis.letourneau@nuranwireless.com
Tel: (418) 264-1337
Frank Candido
Investor relations
Frank.candido@nuranwireless.com
Tel: (514) 969-5530
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 the signing of and drawdowns under the Loan Facility, statements with respect to setting up our construction plan for 2024 and accelerating the achievement of major milestones by the end of the calendar year from proceeds of the Loan Facility, statements with respect to any potential restructuring of debt and that the execution of the loan agreement with the DFIs will propel NuRAN to build towers at an aggressive pace and fulfil our 2024 and 2025 expectation. 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 include risks such as the uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, risks relating to NuRAN's business and the economy generally; NuRAN's ability to drawdown under the Loan Facility and obtain any required consents for the drawdowns under the Loan Facility, NuRAN's ability to adequately restructure its operations with respect to its new model of NaaS service contracts; NuRAN's ability to complete the DFI financings, our ability to collect fees from our telecommunication providers and reliance on the network of our telecommunications providers, the capacity of the Company to deliver in a technical capacity and to import inventory to Africa at a reasonable cost; NuRAN's ability to obtain project financing for the proposed site build out under its NaaS agreements with Orange, MTN and other telecommunication providers, 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; effects of the global supply shortage affecting parts needed for NuRAN's sites and site installations; NuRAN's ability to retain key employees and protect its intellectual property; compliance with local laws and regulations and ability to obtain all required permits for our operations, 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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FAQ
How much is NuRAN's (NRRWF) second drawdown from FEI and when was it approved?
What is the total loan facility agreement amount for NRRWF with Cygnum Capital?
How will NuRAN (NRRWF) use the second drawdown funds in Cameroon?
What was the amount of NRRWF's first drawdown from FEI and when was it received?
