Nuran Wireless - NRRWF STOCK NEWS

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.

NuRAN Wireless Inc. (OTC: NRRWF) announced a revised rollout of wireless sites in Africa, completing 122 sites in Cameroon and 118 sites in DRC by October 2022. The company aims to deploy an additional 10 sites in South Sudan. CEO Francis Letourneau expressed confidence in reaching a goal of 10,000 contracted sites, currently at 3,142. However, they are targeting 400 sites by December 2022, down from an initial 500 due to financing delays. The company has appointed Christian Marcoux as Managing Director and George Benson as Director of Operations for Africa.

NuRAN Wireless has signed a $125 million NaaS contract with MTN Sudan for rural mobile infrastructure deployment. The 10-year agreement involves a minimum of 500 sites across Sudan, potentially increasing based on project dynamics. Revenues will be shared, contingent on site completion and operational expenses. This partnership aligns with NuRAN's goal of securing 10,000 sites under contract, building on previous agreements with MTN in other African nations. NuRAN aims to leverage its expertise in mobile infrastructure to foster connectivity in underserved regions.

NuRAN Wireless has signed a Group Framework Agreement with MTN Group on July 21, 2022, to deploy rural sites in the Middle East and Africa under a Network-as-a-Service (NaaS) model. This agreement allows NuRAN to work with MTN subsidiaries on the development of up to 19,000 network sites. CEO Francis Letourneau expressed confidence in achieving contracts for 10,000 sites through this partnership. The NaaS model is designed to generate long-term recurring revenues, although it involves upfront investment. NuRAN plans to utilize asset-based project financing to support this initiative.

NuRAN Wireless Inc. (CSE:NUR, OTC PINK:NRRWF) has successfully closed a $2,000,000 non-brokered private placement of convertible debentures with a strategic investor. The principal amount of $2,222,222 is convertible at $1.35 per share, due one year from closing, and includes 1,481,481 share purchase warrants exercisable at $2.00 for 24 months. Additionally, the company has received confirmation from a development finance institution regarding a $27,000,000 loan facility, meeting a pre-closing fundraising condition of $6,000,000.