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Nuran Wireless Inc (2)
Symbol NUR
Shares Issued 43,043,579
Close 2024-01-29 C$ 0.115
Market Cap C$ 4,950,012
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Nuran Wireless to install 21 more sites in Cameroon

2024-01-30 11:43 ET - News Release

Mr. Francis Letourneau reports

NURAN RE-ACTIVATES SITES DEPLOYMENTS IN CAMEROON

Nuran Wireless Inc. has deployed 21 additional sites in Cameroon, as well as made capacity upgrades to five sites.

Following the continued improving and impressive site performance over the last quarter, Nuran Cameroon is moving forward with additional site deployments. The current 79 sites in Cameroon are generating important operating cash flow, with revenues having increased by over 50 per cent since September and surpassing previous projections. Eighty-four per cent of the sites have surpassed the guaranteed minimum revenue stipulated in the contract with Orange and the company reports that over 10 per cent of the sites are now generating over $5,000 (U.S.) of gross revenue, with the top site now averaging $7,200 (U.S.) monthly.

Nuran's global network operations centre (NOC) allows the operations team to closely monitor site performance, which has allowed it to pinpoint the criteria necessary for high-performing sites.

With over 24 months of historical data, the operations team in charge of site selection and acquisition has established the formula for high-performing sites, which has significantly mitigated the risk of deploying non-performing sites. Both Orange and Nuran have agreed to relocate five non-performing sites to better locations, and this action is expected to take place after the site deployments and site upgrades.

The company has now launched the build of 21 sites and capacity upgrade on five sites. The remaining investment required to complete this build is approximately $4,600 (U.S.) per site and will be deployed over the next two months. This build is being financed by cash flow generated in country to deploy equipment previously paid for in inventory and ready to be deployed. The expected payback on typical site capex (capital expenditure) investment is now projected at approximately 16 months, while recent capacity upgrade spend is expected to be recovered in less than two months.

About Nuran Wireless Inc.

Nuran Wireless 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 Wireless 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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