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, 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.
NuRAN Wireless has launched its first site in the Democratic Republic of the Congo (DRC) and has 15 sites operational in Cameroon. After one month, these sites achieved an impressive 32.68% penetration rate. The company secured a 2.87M CAD loan from Afriland First Bank, aimed at financing the rollout of 122 sites. Additionally, NuRAN has changed its financial year-end to align with other companies in the sector. The company expects to have 120 sites live by March 2022.
NuRAN Wireless Inc. (OTC PINK: NRRWF) updates on its operations, reporting 10 active sites in Cameroon with a promising average subscription rate of 37%. The company anticipates increasing revenue projections based on higher population densities and ARPU from its sites. Despite missing its initial target of 48 sites due to supply chain delays, all required materials have arrived and deployment is underway. NuRAN is also in advanced negotiations for over 1,000 additional sites and plans to finance its contracts with development banks.
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