NuRAN Wireless Inc. (“NuRAN Wireless” or the “Company”) (CSE:NUR) (OTC:NRRWF) (FSE:1RN) announces that it has received new orders totaling more than CAD $500,000 in the month of March, mostly recurring revenue business.
NuRAN Wireless Inc. (“NuRAN Wireless” or the “Company”) (CSE:NUR) (OTC:NRRWF) (FSE:1RN) announces that it has received new orders totaling more than CAD $500,000 in the month of March, mostly recurring revenue business. These sales are related to NuRAN’s rural connectivity solutions as well as Nutaq Innovations, NuRAN’s wholly owned engineering services subsidiary. Over 80% of these new orders in March 2019 represent recurring business revenue from existing NuRAN customers.
Francis Letourneau, VP Sales and Marketing of NuRAN Wireless stated: “Since our October 2018 pivot to being both a physical device and service driven business, NuRAN has seen considerable growth in recurring revenue from existing clients as well as subscription based income from new clients.” Mr. Letourneau continued: “The relationship with our clients is extremely positive and it has resulted in higher repeat sales to existing customers. As it stands since our Q1 2019, we have a monthly average of CAD $1.0M of new purchase orders which are all connected to our portfolio of wireless solutions. The uptick in business and the stickiness of our client base should begin to be reflected in our Q3 2019 and Q4 2019 financials and revenue ramp up from there going into 2020.”
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.
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Direct Financial Strategies and Communication
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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.