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.
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NuRAN Wireless has successfully closed a non-convertible bridge loan of US$1,500,000 from a US-based lender. This funding aims to support the company's operations until it meets conditions for a European Investment Bank (EIB) drawdown. The loan will also facilitate site installations under existing Network as a Services (NaaS) contracts, particularly in Cameroon, where traffic demand is surging. The loan, repayable in six months with an interest rate of 10% per annum, comes with specific terms, including repayment of a total of US$1,653,947. As of April, NuRAN reported a 20% revenue increase following a successful upgrade to its Radio Access Network (RAN).
Additionally, NuRAN has engaged AGORA for marketing services to enhance its visibility in the market.
NuRAN Wireless has secured a non-convertible bridge loan of US$1.5 million from a US-based institution to support its capital needs and resume site rollouts. The initial funding of US$400,000 has been received, with US$1.1 million expected by April 18, 2023. This financing will aid in accelerating site installations under existing contracts, with additional growth expected in regions like Cameroon and South Sudan. Loan terms include 10% interest and a repayment total of US$1.578 million. Concurrently, NuRAN issued 1.25 million stock options for internal consultants to enhance team capabilities.
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.
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