Quebec, QC, Canada – TheNewswire – November 20th, 2020 – NuRAN Wireless Inc. ("NuRAN Wireless") (CSE:NUR) (CNSX:NUR.CN) (OTC:NRRWF) (FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, is pleased to announce that it has received its first purchase order from iSAT Africa for its initial commercial rural deployment in a Sub-Saharan African country.
In addition to this initial order, NuRAN and ISAT have signed a preliminary agreement to supply a complete turnkey solution under a vendor financed model including managed services.
ISAT Africa has a Network As A Service ("NAAS") contract signed with a Mobile Network Operator ("MNO") to supply and manage up to 500 sites over 5 years. NuRAN is selected to provide its Radio Access Network solution in addition to engineering services, installation, tower procurement, solar power systems and miscellaneous ancillaries.
All of this will be done under the NAAS Model in a lease to purchase structured agreement whereby the assets will be transferred after the maturity of the term with the exception of managed services which will continue indefinitely.
Nuran estimates that the total potential contract value is of over $13,000,000 with expected yearly revenue of over $2,600,000 once at full scale.
"This second agreement in the past month is further evidence that NuRAN holds a key position in enabling network expansion in rural areas. The structuring of its offering around a fully-managed Network As A Service outsourced network infrastructure model proves highly appealing to mobile operators. While the operations in these two countries are deemed to form a solid starting base, Management is working to secure additional similar business and expand these operations to a much larger scale.", states Francis Letourneau, President and CEO of NuRAN Wireless.
The signed preliminary agreement confirms the intent of NuRAN and iSAT Africa to engage in a network expansion project and lays out the main commercial parameters of an eventual agreement. The preliminary agreement allows NuRAN to further its network build strategy while the terms of the definitive contract are being finalized.
No regulatory authority has approved or reviewed the contents of 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.
About iSAT Africa
iSAT Africa is a UAE based company and a subsidiary of Wananchi Group Holdings, Mauritius a fast-growing fixed satellite solution and professional service provider in Africa. Our mission is to transform the way Africa gets and stay connected with rest of the world through its carrier grade connectivity for voice, data and video applications increasing business opportunities in all kinds of diverse & challenging environment.
For further information about NuRAN Wireless
Francis Letourneau, President & CEO
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.
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