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 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.
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.
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