NuRAN Wireless Inc. (CSE:NUR, FWB:1RN, OTCMKTS:NRRWF) announces that a contract valued at over $4M CAD is imminent, and wishes to provide its shareholders and stakeholders a corporate update.
NuRAN has been confirmed by a mobile network operator (“MNO”) as being the supplier of mobile infrastructure for a small network expansion. While the business cannot be officially confirmed at this time, all technical and commercial aspects have been addressed, with only the contractual agreement remaining pending. The contract is valued at over $4M CAD, and is expected to be executed within 12 months of signature. Through this contract, NuRAN will supply its award-winning mobile infrastructure solutions specifically built to bring mobile and broadband connectivity to emerging and isolated markets. This contract has not been the subject of any prior announcement of the Company.
NuRAN takes the opportunity to provide its shareholders with a corporate update in the form of a Q&A.
Q. Has progress been made in relation to the previously announced $9M CAD project in Africa in partnership with Spacecom’s AMOS-17?
A. As was stated in the announcement, the project is conditional to the mobile operator obtaining its financing. Financing is yet to be confirmed however substantial progress has been made since the announcement. Management remains confident that the contract will be awarded.
Q. Spacecom recently announced that there was further delay in the launch of AMOS-17. Is this impacting NuRAN and its opportunities?
A. No. The recently announced delay in launching AMOS-17 does not have any impact on NuRAN’s expected business.
Q. Is there any update with regards to the previously announced trial in Kenya?
A. The trial incurred scheduling delays due to nation-wide network issue which needed to be resolved in priority. Nevertheless, NuRAN could complete a significant portion of the trial on-site in April and expects the trial to be successfully completed by Q3.
Q. Is NuRAN’s Mobile Network Enabler (“MNE”) model yielding business opportunities?
A. NuRAN is in advanced discussions with a large MNO on significant business opportunities using this specific economic model. The MNE model is aimed at facilitating network rollouts for mobile network operators by providing them with a zero-CAPEX, as-a-service (aaS) infrastructure solution.
Q. There have been multiple announcements of global scale satellite constellations. Do they represent a threat to NuRAN’s business?
A. Most of the low-earth-orbit (“LEO”) satellite constellation programs that have been announced in the past few years are aimed at bringing “backhaul” connectivity, not “access” connectivity. In other words, the satellites will not communicate directly with people’s handsets or terminals. These LEO programs are planned to complement mobile communications infrastructure like NuRAN offers, and even more so, enable further expansion of mobile network by decreasing the cost of broadband backhaul capacity.
Q. Does NuRAN expect to close other contracts in the short or mid term?
A. NuRAN is working on a large number of opportunities. Proposals have already been submitted and are pending selection and/or negotiation. Management believes that the Company is well positioned to be awarded contracts associated to these specific opportunities in the next few months.
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.
For further information about NuRAN Wireless;
Direct Financial Strategies and Communication
United States Contact
RB Milestone Group, LLC
Stamford, CT & New York, NY
President & CEO
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.