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NuRAN Wireless Inc. (NRRWF) is a prominent player in the mobile and broadband wireless infrastructure solutions market. The company recently secured an $800K credit facility from a local bank in Cameroon to support site deployment, has completed 19 new sites, and upgraded 5 sites in Africa. NuRAN Wireless specializes in providing affordable 2G, 3G, and 4G technologies to bridge the digital divide.
With a focus on enabling effective communication over long distances, NuRAN Wireless aims to connect over a billion people worldwide. The company's collaborations with major industry players like MTN highlight its commitment to expanding network coverage and empowering underserved communities.
NuRAN Wireless has received final authorizations to operate in the Democratic Republic of the Congo (DRC) as part of its expansion efforts. This follows the approval of a senior credit facility of US $18 million from the European Investment Bank (EIB) and EURO $8 million from the DFI, totaling approximately US $27 million. The EIB has confirmed the necessary licenses, with final approval pending a legal review. The company plans to announce the signing of the definitive loan agreement soon, which will enable initial fund drawdown. NuRAN aims to enhance rural telecommunications coverage globally.
NuRAN Wireless has announced a US $1.41 million purchase order from the Marshall Islands National Telecommunication Authority to extend 4G coverage in their network. This purchase aligns with the capex model used in previous deployments. The order includes LiteCell technology and additional infrastructure, set for deployment in mid to late 2023.
Furthermore, NuRAN has completed its application to list on the OTCQB, enhancing accessibility for U.S. investors. The company is also in the final stages of securing a US $27 million non-dilutive financing with the European Investment Bank, expected to close in March 2023.
NuRAN Wireless has entered a significant Network-as-a-Service (NaaS) agreement with Orange Madagascar, deploying 500 rural telecommunications sites on Madagascar's east coast. Announced on January 17, 2023, this 10-year contract has a potential gross revenue of over US$90 million, equating to approximately US$1,500 per site monthly, with a 70% gross margin. This partnership is expected to enhance mobile connectivity for underserved populations and marks NuRAN's third contract with Orange, contributing to its objective of 10,000 sites within five years.
NuRAN Wireless provided a corporate update on its €8 Million and $18 Million credit facilities, cumulatively totaling approximately $27 Million. NuRAN is finalizing loan agreements pending third-party deliverables, specifically a telecom license in the DRC and a consent letter from the Ministère des Finances. The financing will support the deployment of up to 242 sites in Cameroon and 850 in the DRC. Short-term bridge loans of CAD $1.6 Million were secured to meet immediate needs prior to drawdowns. Over 100 sites have already been deployed, accelerating efforts to bridge the digital divide.
NuRAN Wireless Inc. (CSE:NUR, OTC PINK:NRRWF) reported significant financial growth for the nine months ending September 30, 2022, with gross revenue soaring 298% to $3,730,808 and gross profit increasing 625% to $1,580,867. Total expenses decreased 20% to $9,337,747, reducing net loss by 27% to $8,369,386. The company secured a EUR 8 million facility and a $2 million private placement while advancing agreements to deploy mobile sites in Africa. Despite current cash flow constraints, NuRAN aims to accelerate its rollout once pending debt financing is finalized.
NuRAN Wireless has secured a US $75 million contract with MTN Ivory Coast to deploy 1,000 rural sites under a renewable 5-year NaaS agreement. This contract is anticipated to generate substantial revenue, potentially contributing to over 4,142 sites under contract as the company aims for 10,000 sites in five years. Additionally, 11 new live sites have been added, including its first in South Sudan. The ownership of the infrastructure ensures recurring revenue for over 25 years. NuRAN continues to expand its presence in Africa, enhancing connectivity for millions.
NuRAN Wireless has secured a total of approximately US$26 million in financing to accelerate the deployment of telecommunication towers in rural areas of Sub-Saharan Africa. The European Investment Bank approved a senior credit facility of US$18 million, with additional funding expected from another development finance institution. This funding aims to support the rollout of 850 sites in the Democratic Republic of Congo and 242 sites in Cameroon. The financing underscores the effectiveness of NuRAN's Network As A Service strategy and expands access to crucial mobile services.
NuRAN Wireless Inc. announced that the European Investment Bank (EIB) is nearing final approval for $18M USD financing for its $36M project aimed at accelerating digital infrastructure in sub-Saharan Africa. This funding is part of the COVID-19 DIGITAL AFRICA LOAN ENVELOPE and will support the deployment of up to 1100 live sites, impacting over 5 million people. The project, which includes contributions from NuRAN and another development finance institution, signifies a crucial step in bridging the digital divide in underserved areas.
NuRAN Wireless has deployed five new sites in Cameroon, raising its total to 58 sites in this country and 87 across five African countries, reaching approximately 530,000 individuals. The company aims to complete the initial 122 sites in Cameroon by October 2022. Future deployments include 118 sites in the DRC and 10 in South Sudan. However, the target for total sites has decreased from 500 to 400 by December 2022. NuRAN plans to finance site expansions mainly through a proposed $27M USD debt financing.
NuRAN Wireless has restructured the secured convertible debenture financing originally closed on March 18, 2022, amounting to $2,222,222. The restructuring allows for an additional $900,000 and extends the maturity date to August 19, 2023. The new debentures total $3,517,512 with a blended conversion price of approximately $0.905. The funds will support the rollout of Network as a Service (NaaS) agreements in Africa. NuRAN also settled outstanding fees of $220,979 through new debentures and warrants, aiming to repay existing convertible debentures before maturity.
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