NuRAN Wireless Inc. Obtains Approval for US$5 Million Loan

On February 29, 2024, NuRAN Wireless Inc., a leading provider of mobile and broadband wireless infrastructure solutions, announced that it received formal approval for a US$5 million loan from the lender's investment committee . This approach constitutes a significant step in NuRAN's Naas operations financing strategy, particularly for the refinancing of renewable energy assets.

Established as a secure short-term financing bridge, the loan will promote the development and achievement of important milestones before the end of 2024. It will enable the construction of new sites in Africa, notably in Cameroon and the DRC, facilitating thus an ambitious expansion. This funding will play a key role in supporting the company financially, covering the material and construction costs of the new sites from available funds and operational income.

Francis Letourneau, CEO of NuRAN Wireless Inc., expressed his gratitude to the lenders for their support, highlighting the positive impact of this financing on the company's operations in Africa. The loan, planned to be refinanced with long-term senior debt, represents a major step forward in realizing NuRAN's expansion plans.