NuRAN Wireless Inc. announced it has signed a Memorandum of Understanding ("MOU") with Telinno-Consulting Limited ("Telinno") for the deployment of rural sites under the network-as-a-service model ("NAAS") in Mali, West Africa and with Sierra Leone Telecommunication Company Limited ("Sierra Tel") in Sierra Leone, West Africa for the deployment of sites through the build, own, operate, and transfer ("BOOT") revenue share model. Pursuant to the terms of the Telinno MOU, the parties intend to install a minimum of 150 rural networking sites in Mali, West Africa within the next 18 months, subject to the conclusion of a definitive agreement with a ten-year term within four months of the signature of the MOU. The agreement is intended to provide mobile connectivity solutions through the NuRAN NAAS model in partnership with Mobile Network Operators ("MNO") in Mali. Telinno Consulting Limited is the leading Telecoms Service Provider in West Africa, specializing in design, roll out, management and performance improvement of the cellular network to ensure the cellular operator offers best in class service to its customers while maximizing return on its network infrastructure investment. Telinno's team of experienced engineers has successfully delivered its full range of services to a wide range of cellular operators around the world. The NuRAN NAAS model facilitates network expansion for mobile operators by managing and controlling the build, operation, and maintenance of cellular sites along with associated capital expenditures. The sites are then monetized by providing connectivity on a paid for service basis. Leveraging its carrier-grade mobile network infrastructure solutions as well as its extensive expertise in the building of cost-effective cellular infrastructure, NuRAN is able to setup network operations from the ground up with an exceptional return on investment. While deployments under the NAAS model require the Company to make upfront investments, they generate significant value whereby NuRAN benefits from long-term recurring revenues with compelling returns. The Company intends to fund such deployments mostly through asset-based project financing or similar debt-oriented facilities. Such financing options and sources are being investigated with a view of carrying out deployments in the most efficient manner.