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Nuran Wireless Inc (2)
Symbol NUR
Shares Issued 28,110,370
Close 2021-07-19 C$ 1.98
Market Cap C$ 55,658,533
Recent Sedar Documents

Nuran signs MOU with MTN for rural sites in Sudan

2021-07-20 12:48 ET - News Release

Mr. Francis Letourneau reports

NURAN SIGNS MOU WITH MTN IN THE REPUBLIC OF SOUTH SUDAN

Nuran Wireless Inc. has signed a memorandum of understanding (MOU) with MTN for the deployment of rural sites under the network-as-a-service model (NaaS) in south Sudan for the deployment of sites through the build/own/operate/transfer (BOOT) revenue share model.

"We are extremely pleased to have concluded this MOU with MTN, a leader in bringing connectivity to the African continent. Adding south Sudan to the Nuran portfolio is another important step towards achieving our goal of 10,000 sites. Bringing connectivity to the unconnected is at the heart of our business strategy and the benefits extend beyond communication, including e-commerce, education and health care. We are very proud to be working with MTN on this important project," stated Francis Letourneau, chief executive officer at Nuran Wireless.

Pursuant to the terms of the MTN MOU, the parties intend to install a minimum of 250 rural networking sites in south Sudan within the next 24 months, subject to the conclusion of a definitive agreement with a 10-year term within four months of the signature of the MOU. The agreement is intended to provide mobile connectivity solutions through the Nuran NaaS model.

MTN is an emerging market mobile operator at the forefront of technological and digital changes. It provides a diverse range of voice, data, digital, fintech, wholesale and enterprise services to more than 280 million customers in 21 markets. Established in South Africa at the dawn of democracy in 1994 as a leader in transformation, it offers services to communities across Africa and the Middle East.

The Nuran NaaS model facilitates network expansion for mobile operators by managing and controlling the build, operation and maintenance of cellular sites, along with associated capital expenditures. The sites are then monetized by providing connectivity on a paid-for-service basis. Leveraging its carrier-grade mobile network infrastructure solutions as well as its extensive expertise in the building of cost-effective cellular infrastructure, Nuran is able to set up network operations from the ground up with an exceptional return on investment. While deployments under the NaaS model require the company to make upfront investments, they generate significant value whereby Nuran benefits from long-term recurring revenues with compelling returns. The company intends to finance such deployments mostly through asset-based project financing or similar debt-oriented facilities. Such financing options and sources are being investigated with a view of carrying out deployments in the most efficient manner.

About Nuran Wireless Inc.

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 is set to bridge the digital divide.

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