NuRAN Wireless Partners with Spacecom’s AMOS-17 Satellite for up to $9M CAD Project in Africa
NuRAN Wireless Inc. (“NuRAN Wireless” or the “Company”) (CSE:NUR) (OTC: NRRWF) (FSE: 1RN) is pleased to announce the conclusion of a conditional trilateral sales agreement with an undisclosed African Mobile Network Operator (the “MNO” or the “Client”) andSpacecom, operator of the AMOS satellite fleet.
NuRAN Wireless Inc. (“NuRAN Wireless” or the “Company”) (CSE:NUR) (OTC: NRRWF) (FSE: 1RN) is pleased to announce the conclusion of a conditional trilateral sales agreement with an undisclosed African Mobile Network Operator (the “MNO” or the “Client”) andSpacecom, operator of the AMOS satellite fleet. NuRAN will be offering a turnkey solution to the undisclosed MNO under the Mobile Network Enabler (“MNE”) business model which was launched on October 9, 2018.
Martin Bedard, Chief Executive Officer and President of NuRAN Wireless, stated: “This is our first major project under the MNE model and could result in up to $9 million CAD in sales over 12 months and a total of ten times that, or close to $90 million CAD, over the lifetime of the scale up.” Mr. Bedard continued: “It is through contracts like these with global players in the space that the Team’s efforts really become apparent. Over the years, Spacecom has launched five satellites and partnered with innovators like SpaceX and Facebook. The entire Team at NuRAN is proud to be their most recent partner.”
In the conditional trilateral agreement, NuRAN will be supplying the MNO with the mobile infrastructure, installation and managed services. Spacecom will be providing all satellite bandwidth and connectivity aboard their new AMOS-17 communications satellite, manufactured by Boeing Satellite Systems International, a world leading manufacturer. AMOS-17, currently undergoing testing and final integration stages, is scheduled to be launched in the second quarter of 2019. Once operational, AMOS-17 will be the most advanced digital high-throughput satellite to provide satellite communication services to Africa.
Assuming the MNO can secure financing, the initial order will be for 200 sites, which will result in approximately $9 million CAD in revenue for the Company over a 12 month period. The expected scope of the entire project scale up is for a total of 2,000 or more sites, which could represent upwards of $90 million CAD in revenue. Feasibility of the project is dependent on a variety of outside factors.
Under the MNE model, the Client will be purchasing hardware on a five (5) year lease period (the “Period”) whereby after the Period, the Client may acquire the equipment entirely. During the Period, NuRAN will be responsible for providing everything to sustain the network including, but not limited to: towers, solar cells and batteries.
No regulatory authority has approved or disapproved the information contained in this news release.
About NuRAN Wireless
NuRAN Wireless is a leading supplier of mobile and broadband wireless infrastructure solutions. Its innovative radio access network (RAN), core network, and backhaul products dramatically drop the total cost of ownership, thereby creating new opportunities for established, as well as emerging mobile network operators. Indoor coverage, isolated rural communities, offshore platforms and ships, NuRAN Wireless helps its customers reach everyone, everywhere.
About Spacecom
Spacecom (Space-Communication Ltd.), operator of the AMOS-3 and AMOS-7 satellites co-located at 4?W, and AMOS-4 at 65?E, provides high-quality broadcast and communication services to Europe, the Middle East, Africa, and Asia via direct-to-home (DTH), Internet service providers (ISPs), mobile network operators (MNOs), telecom operators, network integrators and government agencies.
With the addition of AMOS-17 in 2019, Spacecom will further expand its reach reinforcing its position as a leading multi-regional satellite operator.
For more information, please visit: http://www.amos-spacecom.com/
For further information about NuRAN Wireless;
Martin Bedard
President and CEO
info@nuranwireless.com
(418) 914-7484
Frank Candido
Direct Financial Strategies and Communication
frank.candido@nuranwireless.com
(514) 969-5530
US Investor Contact
Trevor Brucato
Managing Director
RB Milestone Group, LLC
Stamford, CT & New York, NY
No regulatory authority has approved or disapproved the information contained in this news release.
Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the timing of the Offering, the use of proceeds from the Offering, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NuRAN Wireless Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information. 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. 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. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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