Quebec, QC / TheNewswire / March 31, 2017 - NuRAN Wireless Inc. (“NuRAN Wireless” or the “Company”) (CSE:NUR) (OTC: NRRWF), a leading supplier of mobile and broadband wireless solutions to connect the next billion, is pleased to announce its financial results for the three months ended January 31, 2017. All dollar amounts are expressed in Canadian currency.

 

"2017 will prove to be a very exciting year for NuRAN as we successfully transitioned to our next generation product, the LiteCell 1.5 base station. As stated previously, this next generation product will ensure our continued goal of “connecting the next billion” on every continent around the world. Our hardware and software is the lowest OPEX and CAPEX solution for rural and remote cellular access.  Our pipeline of sales opportunities continues to substantively increase each quarter and will be reflected in our much-anticipated improved financial performance over the coming months as we head towards profitability. We currently have many units in the field which have already proven to surpass all of the interoperability and functionality hurdles and we expect to continue to announce a number of important contracts for deployment. Our quarterly performance will improve substantively over the next few quarters in anticipation of the deployments, states Martin Bedard, Co-CEO of NuRAN Wireless.

  

Highlights of the Company’s financial results for the three months ended January 31st, 2017 included the following:

 

-Revenue of $1,104,756; a decrease of approximately 30% from Q1 2016 attributable in part to a strategic shift in the company’s revenue model from an OEM (white label) sales model to a production TCO Sales or direct product sales model providing the company with recurring revenue from warranty and hardware and software maintenance ;

 

-Gross Profit of $558,049 or approximately 50%; unchanged from Q1 2016;

 

-Net Loss of $820,630 compared to a Net Loss of $198,799 in Q1 2016; attributable in part to extraordinary expenses related to financial fees with respect to the final tranche of the private placement of 2016 and an increase in sales and marketing expenses as previously anticipated.

  

Other Highlights in the Quarter Include;

 

-Selected by Globe Telecom for rural mobile deployment the LiteCell 1.5 base stations in the Philippines

-Successfully launched a new software offering known as NuRAN Open Access (NOA) including Facebook’s Community Cellular Manager (CCM) Software for the LiteCell Base Station

-Showcased the Open Cellular Prototype at the Mobile World Congress developed in conjunction with the Telecom Infra Project initiative of Facebook

-Retained by Facebook to develop a 4G LTE base station with an expected launch later this calendar year

-Successfully closed a fully subscribed $3.5 Million Convertible Debenture

-Selected by Global Communications Extension Services Ltd (GCES) to deploy it LiteCell 1.5 base stations in 5 Sites in Nigeria

-Received an over $1 Million dollar contract from Africa Mobile Network to deploy its LiteCell 1.5 base stations in Africa.

-Successfully filed an International Process Patent for 5G

-Awarded an over $1 Million dollar engineering contract in wireless

  

About NuRAN Wireless

 

NuRAN Wireless, with its wholly owned subsidiary Nutaq Innovation, is a leading supplier of mobile and broadband wireless solutions. Its innovative GSM, LTE, and White Space radio access network (RAN) and backhaul products dramatically drop the total cost of ownership, thereby creating new opportunities for mobile network operators and internet service providers.

The Company provides a variety of specialist systems for indoor coverage, rural and urban connectivity in emerging markets, connectivity to offshore platforms and ships, and for emergency and crisis communications.

For further Information about NuRAN Wireless or Nutaq Innovation:

www.nuranwireless.com or www.nutaq.com

Martin Bédard and Patrice Rainville
Co-Presidents and Co-CEOs

Tel: (418) 914-7484  Fax: (418) 914-9477
Toll Free: 1-855-914-7484  Email: info@nuranwireless.com ; info@nutaq.com

Direct Financial Strategies and Communication

Frank Candido

514-969-5530        Email: directmtl@gmail.com

FIRST REPUBLIC CAPITAL CORPORATION

Richard C. Goldstein
Tel: (416) 957-6303  Email: info@firstrepubliccapital.com
www.firstrepubliccapital.com

No regulatory authority has approved or reviewed the contents of the information contained in this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of NuRAN Wireless to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include: the intention to expand the business and operations of NuRAN Wireless and its product line, the completion of the Offering on the above terms and the use of proceeds. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of NuRAN Wireless to obtain necessary approvals for and to complete the Offering; general economic conditions in Canada and globally; competition for, among other things, capital and skilled personnel; our ability to hire and retain qualified employees and key management personnel; possibility that government policies or laws may change; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to acquisitions and international expansion; reliance on large customers; reliance on a limited number of suppliers; risks related to the Corporation’s competition; and the Corporation’s failure to adequately protect its intellectual property; interruption or failure of information technology systems and other risk factors described in the Corporation’s reports filed on SEDAR (www.sedar.com), including its financial statements for the year ended October 31, 2016, and those referred to under the heading “Risk Factors”.  These forward-looking statements should not be relied upon as representing NuRAN Wireless’ views as of any date subsequent to the date of this press release.