Nuran Wireless Stock Price, News & Analysis

NuRAN Wireless, a leading supplier of mobile and broadband wireless infrastructure solutions, has released a new presentation detailing their Site Deployment Schedule through June 2025 along with key economic metrics of their current operational sites. The company has made available both a slide presentation and an explanatory video featuring CEO Francis Letourneau and IR representative Frank Candido discussing these updates.

NuRAN Wireless has received a full payment of CA$ 788,000 in outstanding arrears from its Mobile Network Operator partner in Cameroon. The company has established a revised site acceptance procedure, expected to be completed for Cameroon sites by end of January 2025. In November, NuRAN invoiced 79 sites with an average monthly revenue of CA$ 4,300 per site.

The company has completed materials procurement for up to 183 additional sites. Due to new importation restrictions since August 2024, particularly for hazardous goods, management is transferring inventories between countries to support the rollout plan and add 21 extra sites. Given Cameroon's exceptional performance, primary deployments will continue there, with new site rollouts planned for February 2025.

3G trial materials are in transit to Cameroon, with deployment scheduled for Q1. Site identification is complete, and 3G core network implementation is set for February. The company aims to achieve continued EBITDA growth and reach breakeven in Q2 2025.

NuRAN Wireless has announced several significant corporate updates. The company's Cameroon subsidiary reached an agreement with its MNO Partner regarding site acceptance and settlement of arrears, which will increase monthly revenue by over 20% starting November 2024. Additionally, NuRAN has extended its secured convertible debentures to December 31, 2026, with a reduced interest rate of 10%.

The company has also amended its factoring agreement, increasing the maximum facility amount to $25.5 million with reduced interest of 5% for 2024, while capping conversions at 30 million Units instead of the previous 80 million Units. The company plans to issue 500,000 common shares to pay interest owing to an arm's length creditor.

NuRAN Wireless has announced achieving positive EBITDA in its wholly owned Cameroon subsidiary, marking a significant milestone for the company. The improvement is attributed to accelerated site acceptance leading to increased subscriptions in the region. The company views this success as a template for future market expansions where it has secured NaaS contracts.

Additionally, NuRAN has appointed Zeifmans LLP as its new auditor following the resignation of its former auditor. The company confirmed there were no reservations, modified opinions, or reportable events in the former auditor's reports for the period ending December 31, 2023.

NuRAN Wireless reported Q3 2024 financial results showing significant growth. Revenue increased 96% to $1,563,061, with gross profit reaching $765,737 compared to a loss in the previous year. The company's Network as a Service (NaaS) expansion in Cameroon drove revenue growth. Total expenses increased 30% to $4,185,595, mainly due to higher financial expenses from short-term borrowings. The company recorded a net loss of $3,220,575. Notable developments include a US$32.2 million NaaS agreement with MTN Benin for up to 200 sites, receipt of a US$2.5M drawdown from FEI, and closing of a US$1.6M convertible debenture.

NuRAN Wireless Inc. (CSE:NUR)(OTC Pink:NRRWF)(FSE:1RN) has released its second Insights Video on Q2 2024 results and finance Q&A. CFO Jim Bailey elaborates on the financial statements, highlighting that key metrics for revenue and gross profit in Cameroon align with projections. The video discusses capital expenditures, debt repayments, and financing potential for NuRAN Africa.

The company reports progress on site deployments, completing 11 sites in Cameroon and progressing with 10 more. Procurement for 60 out of 120 sites is complete. NuRAN expects to unlock a second US$1.5M drawdown from the Cygnum facility in October. Operations are launching in Benin and Ivory Coast, with core network integration expected by early November. The company aims to deliver 600 sites from the Cygnum Capital loan facility, focusing on multi-country expansion to diversify its business.

NuRAN Wireless Inc. (CSE:NUR)(OTCQB:NRRWF) reported its Q2 2024 financial results, showing significant growth:

- Revenue increased 151% to $1,512,457
- Gross profit rose 646% to $1,188,180
- Net loss decreased 14% to $2,425,696

Key developments include:
- Securing a $5M loan facility with FEI
- Signing a term sheet for a potential $70M credit facility
- Agreeing to a $27M NaaS deal with MTN for 250 sites
- Securing a $32.2M NaaS agreement with MTN Benin for up to 200 sites
- Closing a $1.6M convertible debenture offering

NuRAN's expansion in Africa continues, now operating in 8 countries with 5,092 NaaS sites under agreement.

NuRAN Wireless Inc. (CSE:NUR, OTC:NRRWF) has closed a non-brokered private placement of an unsecured convertible debenture for US$1,600,000. The debenture, issued to a US-based family office and existing shareholder, matures on August 16, 2026, with a 15% annual interest rate. The principal amount is US$2,194,772 after a 25% original issuance discount and fees. It's convertible into units at CDN$0.225 per unit, each comprising one common share and one warrant exercisable at CDN$0.25 for 24 months. The proceeds will be used for working capital and debt repayment. This financing demonstrates investor confidence in NuRAN's mission to connect underserved areas in Africa.

NuRAN Wireless Inc. (CSE:NUR, OTC:NRRWF) has signed a 5-year renewable agreement with MTN Benin for up to 200 rural sites under its Network-as-a-Service (NaaS) model. This expands NuRAN's presence to 8 countries in Sub-Saharan Africa, with a total of 5,092 sites under contract, surpassing 50% of its 10,000-site goal. The project will support 2G, 3G, and 4G networks.

Additionally, NuRAN has received an initial drawdown of US$2.5 million from the Facility for Energy Inclusion (FEI), allowing the company to resume its rollout plan. The funds will primarily support projects in Cameroon, with portions allocated to initiate site builds in Ivory Coast, Benin, and Madagascar, as well as deliver sites in South Sudan.