NuRAN Provides Corporate Update

NuRAN Wireless Inc., a prominent provider of mobile and broadband wireless infrastructure solutions, has released a significant corporate update that underscores its strategic growth and financial stability.

Cameroon Operating License Secured

In a major development, NuRAN has successfully obtained a Category 1 License, enabling the delivery and operation of shared passive infrastructure to support digital communication networks in Cameroon. This license empowers NuRAN to not only implement its innovative Network as a Service (NaaS) business model for Orange Cameroon but also opens doors for expansion by accommodating multiple mobile network operators (MNOs) as "tenants" on their infrastructure sites. This move positions NuRAN as a formidable player in the telecom infrastructure space, capable of providing services on par with established tower companies. While the license isn't an immediate requirement for the current NaaS offering, it satisfies crucial conditions precedent set by development finance institutions, strengthening the company's overall footing.

Factoring Agreement Revised

NuRAN is pleased to announce amendments to its Factoring Agreement dated August 28, 2023. Previously, the agreement stipulated additional cash payments, completion of DFI Financing, and the securing of indebtedness via a Hypothec by September 30, 2023. Now, the company has extended this deadline to October 31, 2023. NuRAN remains in close collaboration with the Factor, diligently working to ensure adequate funding during this period, leading up to securing additional financial support. This adjustment reflects NuRAN's commitment to financial prudence and long-term sustainability.

These developments signify NuRAN's proactive approach to strengthening its position in the market and its dedication to fostering partnerships that drive growth and innovation. As the company continues to evolve, its ability to deliver cutting-edge wireless infrastructure solutions and secure essential licenses sets the stage for a promising future in the telecommunications industry.

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