Nuran Wireless Stock Price, News & Analysis

NuRAN Wireless has entered term sheets with lenders for a $17 million convertible debenture financing. This Bridge Financing aims to cover working capital and possibly fund the $30 million senior credit facility for network infrastructure in Cameroon and the Democratic Republic of the Congo. The financing will occur in two tranches, including a $2 million secured convertible debenture, with an initial advance of $1.3 million, and a second tranche of up to $15 million in unsecured debentures. Closing is contingent on due diligence and agreements.

NuRAN Wireless, a supplier of mobile and broadband wireless infrastructure, has won the 2022 Mobile World Live Pitch 2Pitch Contest at Mobile World Congress in Barcelona. The competition, showcasing over 60 companies, recognized the winner for serving a large market, rapid growth, and social impact. CEO Francis Letourneau emphasized the importance of providing connectivity worldwide. NuRAN's NAAS model allows mobile operators to expand networks efficiently, generating long-term recurring revenues through upfront investments.

NuRAN Wireless has signed a Memorandum of Understanding (MOU) with MTN Namibia to deploy a minimum of 150 rural and suburban networking sites within 24 months. The sites will utilize 2G and 4G technologies, aligning with NuRAN's goal of establishing 10,000 sites. This collaboration highlights the company’s strategy to enhance connectivity and generate long-term revenue through its network-as-a-service model. The average revenue per user in Namibia is expected to be significantly higher than in other African regions, indicating a lucrative market opportunity.

NuRAN Wireless has successfully deployed 41 sites in Cameroon and 12 sites in the DRC. As of January 31, 2022, these sites cover approximately 197,254 people in Cameroon, achieving a 49.4% penetration rate, significantly above the initial 24% target. Revenue generated from the sites averages approximately $2,144 CAD per site, surpassing the guaranteed fee of $1,225 CAD. The company aims to secure 10,000 sites by 2026 and estimates potential monthly revenue at around $5.3 million CAD once fully operational.

NuRAN Wireless Inc. has engaged Octagon Media Corp. for a six-month digital media advertising and investor marketing campaign, compensating them with US$125,000 and stock options for 300,000 shares at CAD$1.45. An additional bonus of US$100,000 is payable if the Company secures equity financing of CAD$4 million or more. Concurrently, 250,000 stock options were granted to directors and consultants at an exercise price of CAD$1.34, with various vesting schedules. The campaign aims to expand NuRAN's U.S. investor audience, enhancing visibility and potential investment opportunities.

NuRAN Wireless Inc. has received a second mandate letter for a senior secured credit facility of up to EUR 8,000,000 (approximately US$9,000,000) from a development finance institution. This funding will finance part of the US$30,000,000 expenditures for network infrastructure in Cameroon and the Democratic Republic of the Congo (DRC), facilitating the rollout of up to 970 rural sites. NuRAN aims to raise an additional US$6,000,000 and has contributed approximately US$5,100,000 in equity thus far. The Loan Facility has conditions and a seven-year term with a grace period.

NuRAN Wireless announced a significant update regarding its operations in Cameroon. The company deployed 32 sites, covering 140,757 inhabitants, achieving a penetration rate of 45.9%, significantly surpassing initial projections. Sixteen sites are generating over the guaranteed monthly fee of $1,225 CAD, with an expected run rate of $2,335 CAD per site. NuRAN has 2,492 Network as a Service (NaaS) sites under contract and anticipates up to $5,800,000 CAD monthly revenue. Additionally, a distribution contract with Orange DRC is set to enhance revenue through commissions on various products.

NuRAN Wireless Inc. has secured an agreement in principle for a senior secured credit facility of up to US$15 million to fund the installation of network infrastructure in Cameroon and the Democratic Republic of the Congo (DRC). This financing is part of a larger US$30 million expenditure for the rollout of 120 rural sites in Cameroon and 850 sites in DRC. The loan requires NuRAN to raise the remaining funds and is subject to standard conditions. The term is seven years with a two-year grace period for principal repayment, and interest may vary between fixed and floating rates.

NuRAN Wireless announced a significant partnership with MTN Group to deploy a minimum of 250 rural telecommunications sites in South Sudan. The 10-year network-as-a-service agreement is projected to generate approximately CAD $57 million in revenues, equating to about CAD $1,800 per site monthly. Installation is planned over the next 24 months, with potential for additional sites. This agreement reinforces NuRAN's commitment to expanding connectivity in underserved regions, using its unique revenue share model to ensure long-term profitability.