Welcome to our dedicated page for Nuran Wireless news (Ticker: NRRWF), a resource for investors and traders seeking the latest updates and insights on Nuran Wireless stock.
NuRAN Wireless Inc. (NRRWF) is described in its public disclosures as a rural telecommunications company and a supplier and provider of mobile and broadband wireless infrastructure. The company’s news flow centers on extending 2G, 3G and 4G mobile coverage to remote and rural regions, particularly in parts of Africa, and on the financing and regulatory steps that support these activities.
On this news page, readers can review NuRAN’s press releases covering operational updates, such as the restoration of sites in Ghana, relocation and integration of sites in the Democratic Republic of the Congo, and ongoing deployment activities in Cameroon. The company also reports on contracts for rural network expansion projects in West Africa, where it is engaged to deploy sites to expand mobile coverage to underserved communities.
NuRAN’s releases provide insight into its Network as a Service (NaaS) revenue, infrastructure license approvals, and the use of financing from the Facility for Energy Inclusion, a fund managed by Cygnum Capital, to expand mobile sites and support its NaaS model. In addition, the news stream documents capital markets and restructuring events, including private placements, a comprehensive restructuring transaction involving debt conversion and new equity, and a share consolidation tied to the company’s objective of meeting conditions for potential listing on a U.S. national securities exchange.
Investors and researchers can use this page to follow NuRAN’s announcements on governance matters, such as Annual General and Special Meeting results, board changes, and updates related to the British Columbia Securities Commission’s Continuous Disclosure Review. Bookmark this feed to access NuRAN’s official communications on its rural telecom projects, financing arrangements and regulatory milestones.
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.
NuRAN Wireless has finalized a US$5M Loan Facility with the Facility for Energy Inclusion, managed by Cygnum Capital. The initial drawdown of US$2.5M will be disbursed within 5 to 10 business days. This financing will help NuRAN enhance rural and remote connectivity in Africa, focusing on Cameroon and the Democratic Republic of the Congo (DRC). The funds will support completing 122 existing sites and adding up to 120 new ones in Cameroon, and over 100 sites in the DRC, with potential expansion in Ivory Coast and South Sudan. Additionally, NuRAN has restructured its outstanding debentures and factoring agreement to extend the maturity date and increase the principal amount to US$2.53M with a 24% interest rate.
NuRAN Wireless announced a five-year Network-As-A-Service (NaaS) agreement with MTN Group to deploy 250 sites in Africa. This agreement represents approximately $27 million in revenues over five years. This is the fifth agreement with MTN, totaling 2,150 sites across five countries. NuRAN retains ownership of the infrastructure post-contract, enhancing the agreement's value. The project supports 2G and 3G networks and various site categories. Funding for deployment will be sourced through asset-based project financing or similar debt facilities.
NuRAN Wireless has announced the results of its 2024 Annual General Meeting held on May 30, 2024. Six directors were re-elected to the board with the following vote percentages: Francis Letourneau (91.760%), Jim Bailey (86.724%), Vitor Fonseca (90.432%), Brendan Purdy (90.078%), Binyomin Posen (86.561%), and Navindran Naidoo (92.868%). Jeremy Levi, CPA, was appointed as the auditor with 94.868% approval. Additionally, the stock option plan was approved with 81.341% votes in favor, and the restricted share unit plan was approved with 79.393% votes in favor.
NuRAN Wireless has signed a non-binding Term Sheet and Mandate Letter with a Global Asset Management Company for a US$15,000,000 long-term senior secured credit facility, which can be increased to US$70,000,000 through syndication. This funding will support the installation of network infrastructure across Cameroon, DRC, Ivory Coast, and Madagascar. The Loan Facility has a seven-year term with a two-year grace period, and interest is fixed up to 10% per tranche. The proposal marks a significant step in NuRAN’s strategy to enhance telecom infrastructure in Africa.
Summary not available.
Summary not available.
Summary not available.
FAQ
What is the current stock price of Nuran Wireless (NRRWF)?
What is the market cap of Nuran Wireless (NRRWF)?
