NuRAN Wireless Set To Connect Africa With $800M In Signed Contracts

In today's connected world, we often take high-speed internet access for granted, but for billions living in rural and remote regions, it remains an elusive dream. NuRan Wireless ($NUR / $NRRWF), a leader in mobile and broadband wireless infrastructure solutions, is changing that narrative. With a staggering $800 million in signed contracts over the next decade across seven countries, including partnerships with two of the world's largest mobile network operators, NuRan is making waves in the telecommunications industry.   5 YEAR PLAN TARGETS $200,000,000 IN ANNUAL REVENUE Within five years, NuRan aims to operate 10,000 sites, generating $200 million in revenue and $100 million in EBITDA, spanning 15 countries across two continents. The heart of NuRan's mission lies in extending the reach of mobile network operators into remote areas where they've traditionally hesitated to invest. NuRan takes on the risk and responsibility to deploy comprehensive network infrastructure, from towers to power systems and radios, all managed under ten-year contracts with mobile operators. Think of NuRan as the essential left arm extending connectivity to the unconnected villages scattered across Africa and beyond. US$15 MILLION DEBT FINANCING  In a significant move, NuRAN Wireless announced a non-binding Letter of Intent for a substantial US$15M debt financing. This strategic financing, subject to due diligence and finalization, comes from a Development Financial Institution (DFI) and is poised to fuel NuRAN's mission of expanding mobile and broadband wireless infrastructure solutions across Africa. KEY HIGHLIGHTS: Expansion Plans: The proposed debt financing, spanning a 7-year period with a 2-year grace period, is targeted at building an additional 800 sites within Africa, amplifying NuRAN's impact on mobile and broadband connectivity. Operational Milestone: The transition of a US$5M Mandate Letter into a term sheet signifies a concrete step forward, with operational, business, and commercial due diligence already completed, leaving only environmental and legal aspects pending. Rural Connectivity Focus: NuRAN's commitment to enhancing connectivity in underserved areas is underscored by the allocation of funds to build more rural and remote mobile sites within Africa, aligning with the company's mission. CEO SEES ACCELERATION THROUGH 2024 AND BEYOND Francis Letourneau, CEO of NuRAN Wireless expressed enthusiasm about the recent developments,  "We have been looking for alternative sources for financing our site build in Africa since we launched this initiative. With over 4600 sites currently under contract, having access to various capital sources is imperative. With the recent stats from our current 79 live sites in Cameroon, NuRAN is gaining more confidence in the financing process with the expectation that site deployment will accelerate throughout 2024 and beyond." NuRAN Wireless is positioned for a transformative phase. As the demand for mobile and broadband connectivity in Africa rises, NuRAN stands at the forefront, ready to deploy an additional 800 sites. Watch the exclusive video interview for insights directly from CEO Francis Letourneau and discover why NuRAN's vision is set to reshape the wireless infrastructure landscape in Africa.