NuRAN Selected by a Tier 1 Mobile Operator for RPF for Thousands of Mobile Sites in the Middle East and Africa

Rhea-AI Summary

NuRAN Wireless Inc. (CSE:NUR)(OTC PINK:NRRWF)(FSE:1RN) announced its selection by a Tier-One Mobile Network Operator for a Rural RFP, enabling them to establish thousands of network sites across over 15 countries in the Middle East and Africa. This partnership may connect an estimated 50 million people, enhancing NuRAN's growth potential. The company is finalizing a general framework agreement and plans to sign a NaaS Services Agreement with each country subsidiary. However, the completion of these agreements is not guaranteed.

Positive

• Selected by a Tier-One Mobile Network Operator for thousands of network sites.
• Opportunity to connect approximately 50 million additional people.
• Potential for accelerated revenue growth and long-term profitability.

Negative

• No assurance of entering a definitive general framework agreement.
• Significant risks exist including economic uncertainties and operational challenges.

• Potential for thousands of sites
• Over 15 countries
• Over 50 Million population coverage

QUEBEC, QC / ACCESSWIRE / April 28, 2022 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTC PINK:NRRWF)(FSE:1RN), a leading rural telecommunications company, is pleased to announce that the Company has been selected by a Tier-One Mobile Network Operator as part of its Rural RFP for thousands of network sites in over 15 countries in Middle East and Africa. This selection assures NuRAN the opportunity to bring its unique turnkey rural and remote mobile connectivity solutions to over 15 countries and therefore potentially connect up to 50 million additional people.

"This selection provides NuRAN with a seat at the table with a significant Tier 1 mobile operator with the potential to accelerate our projected hyper revenue growth and long-term profitability. We believe this is a game changing selection for our company and our shareholders. This selection further emphasizes the confidence in our solutions and our ability to be an effective partner in this crucial social global endeavor of bringing essential mobile connectivity to the unconnected" stated Francis Letourneau, CEO of NuRAN.

Following its successful selection by the operator pursuant to the RFP, the Company is working with the operator to finalize a general framework agreement which is intended to set the global terms for the Group. Then NuRAN is expected to complete the process by signing a NaaS Services Agreement with each selected country subsidiary to establish the number of sites commitment under the contract. The Company intends to provide a further update once the general framework agreement is entered into. There is no assurance that the Company will enter into a definitive general framework agreement as planned or at all.

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

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 the proposed general framework agreement with a tier 1 mobile operator, the terms and conditions, proposed agreements respecting the general framework agreement, the number of potential connected people in Africa and the Middle East pursuant to the RFP and the number of sites and countries to be covered by the agreements underlying the RFP, the Company's proposed build out of network sites and ability to obtain project financing in relation to same. 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 refinance its long term debt that is currently in default; NuRAN's ability to adequately restructure its operations with respect to its new model of NAAS service contracts; 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; 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.

View source version on accesswire.com:
https://www.accesswire.com/699236/NuRAN-Selected-by-a-Tier-1-Mobile-Operator-for-RPF-for-Thousands-of-Mobile-Sites-in-the-Middle-East-and-Africa

FAQ

What recent announcement did NuRAN Wireless Inc. make regarding its operations?

NuRAN Wireless announced it was selected by a Tier-One Mobile Network Operator for a Rural RFP to establish thousands of network sites in over 15 countries.

How many people could NuRAN Wireless potentially connect through its new agreement?

NuRAN could potentially connect up to 50 million additional people through this agreement.

What is the significance of the partnership for NuRAN Wireless?

The partnership may accelerate NuRAN's projected revenue growth and enhance long-term profitability.

What are the risks associated with NuRAN's recent announcement?

Risks include uncertainties in finalizing agreements and challenges related to operational execution and economic conditions.