- Completion of Phase 1 - 122 sites in Cameroon
- Completion of 118 sites in DRC for October
- Initial 10 sites in South Sudan for September
- Appointment of new Managing Director and Director of Operations for Africa
QUEBEC, QC / ACCESSWIRE / August 11, 2022 / NuRAN Wireless Inc. ("NuRAN Wireless") (CSE:NUR) (OTC:NRRWF) (FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions is pleased to announce the resumption of and revised rollout schedule of sites in Cameroon, DRC and South Sudan.
The new schedule for site deployments includes the completion of the initial 122 sites in Cameroon in partnership with Orange Cameroon initially announced in a press release dated October 29, 2020 by the end of October 2022. Additionally, On March 11, 2021, NuRAN had also announced that this contract was expanded to include an addition 120 sites for a total 242 sites.
NuRAN will additionally resume site deployments in the DRC in partnership with Orange DRC with the expected completion of 118 sites in the DRC which was initially announced on February 8, 2021. The contract with Orange DRC is for a total of 2000 sites.
Lastly, NuRAN will launch live sites in South Sudan with a total of 10 sites to be deployed. The contract announced on December 21,2021 with MTN South Sudan is for 250 total sites to be deployed with the potential for more sites to be added.
"We are pleased to announce the resumption of site deployments in Africa. To date, NuRAN has had to finance all site deployments from equity at the corporate level. Our plan has always been to finance site deployments predominately through debt at the African level. As we await the release of $27M USD of African debt financing, we are pleased that we can continue to deploy more sites in the mean time. We are as anxious as all our shareholders and stakeholders to accelerate the deployment of sites while we continue to announce new and significant contracts. Our goal has been to reach 10,000 sites under contract, and we are quickly approaching that goal with 3142 sites already under contract" stated Francis Letourneau, CEO and President of NuRAN Wireless Inc.
NuRAN has currently deployed 82 live sites in Cameroon (53) and DRC (29) covering a total population of approximately 487,000. With this new batch of sites to be deployed, NuRAN expects to have a total of 250 sites live by the end of October 2022. During the last few weeks, the team in Cameroon has completed the capacity upgrade of 9 sites of the 22 planned. The remaining will be done concurrently with the new build plan for optimization due to the proximity of the new planned sites.
NuRAN is also announcing an important reorganization of senior staff. NuRAN is pleased to announce the appointment of Christian Marcoux as Managing Director of corporate operations. Mr. Marcoux currently resides in the Quebec City, Canada area and is a bilingual management engineer with 28 years of experience in technology. His expertise is in leading the implementation of new business strategies and best business practices, particularly when they concern operations, the development of new products, sales, and marketing. His considerable experience and know-how in coordination and personnel management has allowed him to form strong teams that mobilize to achieve the expected results. Mr. Marcoux is graduate of Laval University with a Bachelor's in Engineering.
NuRAN is also pleased to announce the appointment of George Benson as Director of Operations for Africa. Mr. Benson is currently residing in Johannesburg, South Africa and is a highly experienced in mobile network deployment and project engineering with over 28 years of experience and having worked in the UK, South Africa, Taiwan, Philippines, USA, UAE, Tanzania, Zimbabwe and Myanmar. Mr. Benson is a graduate of Heriot-Watt University with a Bachelor of Science in Planning.
"NuRAN is focused on the next phase of the company's development and site rollouts will be at the center of our long-term success. The addition of Mr. Marcoux and Mr. Benson to our team will ensure a managed and efficient process achieving our short and long-term goal of sustained growth" commented Francis Letourneau, CEO and President of NuRAN Wireless Inc.
NuRAN would like to thank Mr Gael Campan and Mr. Badi Abdallah for their efforts and dedicated service and we wish them the best of luck in their future endeavors.
Due to short term delays with respect to the release of debt financing, management reports that it now targeting the completion of 400 sites by the end of December 2022, a decrease of 100 sites from its initial target of 500 sites.
About NuRAN Wireless:
NuRAN Wireless is a leading rural telecommunications company that meets the growing demand for wireless network coverage in remote and rural regions around the globe. With its affordable and innovative scalable solutions of 2G, 3G, and 4G technologies, NuRAN Wireless offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably. "Bridging the Digital Divide, One Connection at a Time."
For further information about NuRAN Wireless: www.nuranwireless.com
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Tel: (418) 264-1337
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Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "anticipates", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include those relating to securing 10,000 sites by 2026, the Company's revenues and future revenues relating to the Company's NAAS agreement and ongoing site installations, and the potential revenues from ancillary services pursuant to the Company's distribution agreement with Orange DRC and other telecommunication providers. Forward-looking statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from the results projected, expressed or implied by these forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, such as the uncertainties regarding include risks such as the uncertainties regarding the impact of the COVID-19 outbreak, and measures to prevent its spread, risks relating to NuRAN's business and the economy generally; NuRAN's ability to adequately restructure its operations with respect to its new model of NAAS service contracts; the capacity of the Company to deliver in a technical capacity and to import inventory to Africa at a reasonable cost; NuRAN's ability to deal with global supply shortages for telecommunication equipment and its ability to find alternate suppliers; the Company's ability to secure lease agreements with local landowners for site installations, NuRAN's ability to obtain project financing for the proposed site build out under its NAAS agreements with Orange, MTN and other telecommunication providers, the loss of one or more significant suppliers or a reduction in significant volume from such suppliers; NuRAN's ability to meet or exceed customers' demand and expectations; significant current competition and the introduction of new competitors or other disruptive entrants in the Company's industry; NuRAN's ability to retain key employees and protect its intellectual property; compliance with local laws and regulations and ability to obtain all required permits for our operations, access to the credit and capital markets, changes in applicable telecommunications laws or regulations or changes in license and regulatory fees, downturns in customers' business cycles; and insurance prices and insurance coverage availability, the Company's ability to effectively maintain or update information and technology systems; our ability to implement and maintain measures to protect against cyberattacks and comply with applicable privacy and data security requirements; the Company's ability to successfully implement its business strategies or realize expected cost savings and revenue enhancements; business development activities, including acquisitions and integration of acquired businesses; the Company's expansion into markets outside of Canada and the operational, competitive and regulatory risks facing the Company's non-Canadian based operations. Accordingly, readers should not place undue reliance on forward looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com.
To the extent any forward-looking information in this press release constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated revenues of the Company from the installation of sites under its NAAS agreements and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out above under the heading " Forward-Looking Information". The estimates included in this news release relating to the calculation of the gross revenue of the Company's NAAS Agreements are based on multiplying an average population per site by the expected penetration rate which yields the number of mobile customers. This is then multiplied by the average revenue per customer per month (ARPU) to derive total revenue. Our NAAS partner's direct costs associated with this revenue are deducted and the resulting amount is shared by both parties. The revenue share only applies to revenue in excess of a guaranteed amount which is the minimum paid to NuRAN. A penetration rate reduction factor has been used to mitigate risk. The base data used to calculate the total potential revenue of this agreement was provided by our NAAS partners based on average population, penetration rate and ARPU. Management of the Company believes that the estimates have been prepared on a reasonable basis, reflecting best estimates and judgments, and based on a number of assumptions management believes are reasonable as well as information provided to the Company by our NAAS partner. However, because this information is highly subjective and subject to numerous risks, including the risks discussed above, it should not be relied on as necessarily indicative of future results. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the estimates prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
SOURCE: NuRAN Wireless Inc.
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