00:49:02 EDT Thu 01 Jun 2023
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Nuran Wireless Inc (2)
Symbol NUR
Shares Issued 32,970,357
Close 2022-09-13 C$ 0.65
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Nuran increases Cameroon live sites to 58

2022-09-13 17:20 ET - News Release

Mr. Francis Letourneau reports


Five new sites have been deployed in Cameroon. Nuran Wireless Inc. now has a total of 58 live sites in Cameroon and 87 live sites in total across five countries in Africa covering a total population of approximately 530,000.

The company is also pleased to provide the following update on scheduled site deployments previously announced:

  • As announced on Aug. 11, 2022, 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 Oct. 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 of 242 sites.
  • Nuran intends to resume site deployments in the Democratic Republic of the Congo in partnership with Orange DRC with the expected completion of 118 sites in the DRC, which was initially announced on Feb. 8, 2021. The contract with Orange DRC is for a total of 2,000 sites.
  • Nuran is expected to launch live sites in South Sudan with a total of 10 sites to be deployed. The contract announced on Dec. 16, 2021, with MTN South Sudan, is for 250 total sites to be deployed with the potential for more sites to be added.
  • As previously announced on Aug. 11, 2022, Nuran is 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.

"We are pleased to announce new site deployments in Cameroon. Crossing the initial milestone of over 500,000 people covered is only an initial short-term goal achieved as we drive to cover millions of Africans with affordable and reliable mobility. 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 predominantly through debt at the African level. As we await the completion of the proposed $27-million (U.S.) of African debt financing, we are pleased to continue the process of deploying sites. We remain committed to accelerating 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 3,142 sites already under contract," stated Francis Letourneau, chief executive officer and president of Nuran."

About Nuran Wireless Inc.

Nuran 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 offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably.

We seek Safe Harbor.

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