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
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