NuRan Adds To Current Backlog With 250 Site Agreement For Telecom Towers

NuRan Wireless (CSE: NUR) has secured a new five year agreement with MTN Group for the deployment of additional telecommunications sites. The latest agreement adds to a current backlog the company has with MTN under a group framework agreement entered into in 2022.

This latest agreement reportedly represents US$27 million in revenue for NuRan over a five year period, assuming all sites are completed. That estimated revenue however is based on estimated revenue per user, as under the current working model NuRan maintains ownership of the infrastructure and is instead paid under a revenue sharing model.

The agreement, referred to as a network-as-a-service arrangement, is for an initial period of five years and can be renewed for a further five, subject to a renewal agreement.

The company is currently under contract to construct 2,150 telecommunications for MTN across five different countries in Africa. Funding for the sites, which historically has been a pain point for NuRan, is expected to come from asset-based project financing or other debt-oriented facilities.

“With the addition of these 250 sites, NuRAN now has a total of 4,892 sites under contract, and we are rapidly progressing towards our goal of reaching 10,000 sites within the next five years. NuRAN is proud to lead the way in our mission to provide essential mobile connectivity in a cost-effective, profitable, and environmentally friendly manner,” commented Francis Letourneau, CEO of NuRan.

No timeline was provided for the deployment of the sites.

NuRan Wireless last traded at $0.105 on the CSE.


Information for this briefing was found via Sedar, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Is Gold’s Bull Market About to Hit Junior Stocks? | Ken Armstrong – Westhaven Gold

Surge Battery Metals: The Nevada North Lithium PEA

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Nuran Wireless Included In Massive RFP For Middle Eastern Mobile Sites

NuRAN Wireless (CSE: NUR) may have a potentially significant contract on its hands this morning....

Thursday, April 28, 2022, 09:03:58 AM

NuRAN Wireless Secures Non-Binding Mandate Letter Worth US$5 Million

NuRAN Wireless (CSE: NUR) continues to do all that it can to survive, announcing this...

Wednesday, January 3, 2024, 08:57:30 AM

NuRan Issues Bold Guidance For 2024/5 While Cutting Costs Over Lack Of Funding

NuRan Wireless (CSE: NUR) is sending mixed signals to the market this morning, providing guidance...

Tuesday, July 25, 2023, 08:48:20 AM

NuRAN Wireless Issued Cease Trade Order Due To Modified Auditor Opinion

Popular small cap NuRAN Wireless (CSE: NUR) this morning saw its equity halted by the...

Friday, May 20, 2022, 11:53:00 AM

NuRAN Wireless Reduces Debt Significantly, Appoints Executives For African Operations

NuRAN Wireless (CSE: NUR) this morning provided a corporate update on its operations. The update...

Tuesday, February 16, 2021, 08:34:58 AM