NCI - NTG Clarity Announces $4.5M in Contracts Bringing Us Closer to $50M Target Revenue for 2024

March, 19 2024 06:05 PM Navigant Consulting Inc.

(TheNewswire)

Toronto, ON / T heNewswire / March 19, 2024 / NTG Clarity NetworksInc. (TSX.V:NCI, OTC: NYWKF); NTG Clarity ispleased to announce that it has signed two new contracts. Thesecontracts are for $4.5M CAD in new work and renewals for two differentdepartments of the same existing customer in the Financial sector inthe Middle East.

These contracts are to perform data platform anddigital factory work, and this is the third institution for whom wehave performed this type of work. Billable work is to beginimmediately for both contracts. The breakdown of t he work is as follows:

$2.35M in contracts for new work:

to provide onsite professional services for one year todo digital factory work for an existing customer in the FinancialSector in the Middle East

$2.17M in contracts for renewal work:

to provide onsite professional services for one year toperform data platform enhancements for an existing customer in theFinancial Sector in the Middle East

NTG’s current work on hand (which includes unbilledPOs as of January 1, 2024, and new POs/contracts received andpreviously announced since then) is approximately $44.5M, the majorityof which is expected to be completed in 2024.

“It’s exciting to see another institution decide towork with us to build their digital factory,” said Adam Zaghloul,Vice President – Strategy & Planning of NTG Clarity. “Thesecontracts solidify our path to reaching our ambitious revenue targetof $50,000,000 for 2024.”

About NTG Clarity NetworksInc.

NTG Clarity Networks’ vision is to be a global leaderin digital transformation solutions. As a Canadian company establishedin 1992, NTG Clarity has delivered software, networking, and ITsolutions to large enterprises including financial institutions andnetwork service providers. More than 600 IT and network professionalsprovide design, engineering, implementation, software development andsecurity expertise to the industry’s leading enterprises.

Forward Looking Information

Certain statements in this release, other thanstatements of historical fact, are forward looking information thatinvolves various risks and uncertainties. Such statements relating to,among other things, the prospects for the company to enhance operatingresults, are necessarily subject to risks and uncertainties, some ofwhich are significant in scope and nature.

These uncertainties may cause actual results to differfrom information contained herein. There can be no assurance that suchstatements will prove to be accurate. Actual results and future eventscould differ materially from those anticipated in such statements.These and all subsequent written and oral forward-looking statementsare based on the estimates and opinions of the management on the datesthey are made and expressly qualified in theirentirety by this notice. The Company assumes no obligation to updateforward looking statements should circumstances or management'sestimates or opinions change.

For Further Information:

Adam Zaghloul, Vice President, Strategy &Planning

NTG Clarity Networks Inc.

Ph: 905-305-1325

Fax: 905-752-0469

Email: adam@ntgclarity.com

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

Company Name:	Navigant Consulting Inc.
Stock Symbol:	NCI
Market:	NYSE
Website:	neo-concept.com/

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