NuRAN Provides Update on Operations in Context of COVID-19 Pandemic
Quebec, QC, Canada - TheNewswire - April 7th, 2020 - NuRAN Wireless Inc. ("NuRAN Wireless") (CNSX:NUR) (OTC:NRRWF) (FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, wishes to provide an update on its operations in the context of the COVID-19 pandemic.
As a provider of telecommunications infrastructure, NuRAN operates commercial activities considered essential to the population and the economy, and therefore maintains its operations. In order to protect its employees from the risk of being exposed to the virus and to slow its propagation, following the guidelines of public health, all except a few employees have been working from home since March 16, and will continue to do so for as long as social distancing measures imposed by the government remain in place. During this time, the Company continues to support the operation of mobile operators and to develop its set of infrastructure solutions. NuRAN has experienced supply chain challenges due to exceptional merchandise import and export measures taken by governments in reaction to the pandemic. Those measures have since been lifted or relaxed, allowing the Company to resume business which had been temporarily hindered. The global situation may cause other disruptions which could affect the Company's ability to deliver its backlog. NuRAN has taken measures to mitigate the risk of such occurrences and minimize the impacts.
In its February 10th update, NuRAN had announced that its mobile infrastructure solutions would get connected to the core network of three African mobile operators within the next two months. The pandemic has altered the plan in the following way: of these three connection projects, one is still ongoing, one had started but had to be interrupted as NuRAN's employee working on-site needed to return to Canada while it was still possible (the remaining of the connection will be achieved remotely), and one has been postponed to a later date. While delays have been incurred in their completion, none of the projects are currently at risk of being canceled. The Company has been working, and continues to work on several other opportunities which are neither related to, nor dependent on the above connection projects to materialize.
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.
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Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the timing of the Offering, the use of proceeds from the Offering, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "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 information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NuRAN Wireless Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.