NuRAN Releases Second Insights Video on Q2 Results and Financing

NuRAN Wireless Inc. has released a new Insights Video on its YouTube Channel. The video, continuing from the August 20, 2024, release, elaborates on Q2 financial results and addresses shareholder questions on business financing.

Jim Bailey, CFO, detailed the Q2 2024 financial statements. Key revenue and profit metrics in Cameroon align with forecasts, aiding discussions with partners. Bailey also discussed capital expenditures and debt repayments crucial for financing NuRAN Africa, mentioning progress in debt financing and potential equity additions.

Significant progress was made in site deployment. The company completed the first batch of 11 sites in Cameroon and is working on an additional 10. They also aim to complete conditions for a $1.5M drawdown from the Cygnum facility for use in the Democratic Republic of the Congo.

Additionally, NuRAN launched operations in Benin and Ivory Coast, expecting core network integration by early November. Procurement for initial site batches in these countries is ongoing, with aims for further expansions driven by the Cygnum Capital loan facility.