Nuran receives OK for DRC infrastructure licence

Executive Summary

• Nuran Wireless Inc. has obtained the final authorization for its infrastructure license to operate telecom sites in the Democratic Republic of the Congo (DRC), confirmed by the settlement of the license fee invoice.
• This approval satisfies the final condition required to draw down the portion of the $5-million (U.S.) loan facility for energy inclusion (FEI) managed by Cygnum Capital specifically allocated for DRC operations.
• The company expects to complete final documentation and execute the drawdown within the next seven days.

Key Details

• Regulatory Milestone: Authorization received from the approval committee for the DRC infrastructure license; license fee invoice issued and settled.
• Financing Impact: The license award was the final condition for the drawdown of the DRC-related portion of the $5-million (U.S.) loan facility for energy inclusion (FEI) managed by Cygnum Capital.
• Next Steps: Nuran is working with Cygnum Capital to complete final documentation; drawdown is expected within seven days.
• Context: The DRC license is similar in nature to the Category 1 license obtained in Cameroon (announced Oct. 17, 2023). The initial application for this license was announced on Nov. 16, 2023.

Notable Quotes

• None provided in the text.