NCI:CC - NTG Clarity Networks Inc. Reports Results of Annual and Special Meeting of Shareholders
(TheNewswire)
Toronto, ON – TheNewswire- July 19, 2023 - NTG Clarity Networks Inc. (TSXV:NCI) (the “ Company ”) announced that its annualand special meeting of shareholders was held on July 7, 2023 andshareholders voted in favour of all matters of business considered atthe meeting and described in the management information circular datedMay 23, 2023. A total of 78,114,007 common shares, representing 52.79%of the outstanding common shares of the Company, were represented inperson or by proxy at the meeting.
At the meeting, all four nominees for election to theCompany’s board of directors (the “ Board ”), beingAshraf Zaghloul, Kristine Lewis, Mohammed Saleem Siddiqi and SyedZeeshan Hasnain, were elected for the ensuing year. In addition, NVSChartered Accountants Professional Corporation were appointed asauditors of the Company.
Shareholders also passed a special resolutionauthorizing the Board to consolidate the common shares of the Companyon the basis of up to five (5) pre-consolidation common shares foreach post-consolidation common share. The completion of the shareconsolidation and the applicable exchange ratio are subject toapproval of the Board and all necessary regulatory approvals,including the approval of the TSX Venture Exchange. If the Boarddetermines to proceed with the share consolidation and obtains allnecessary regulatory approvals, the share consolidation will occur ata time determined by the Board and announced by a press release of theCompany.
About NTG ClarityNetworks Inc.
NTG Clarity Networks’ vision is to be a global leader in providingnetworking solutions. As a Canadian company established in 1992, NTGClarity has delivered networking, IT and network enabled applicationsoftware solutions to network service providers and large enterprises.More than 500 IT and network professionals provide design,engineering, implementation, software development and securityexpertise to the industry’s leading enterprises.
This press release includes certain statements that maybe deemed to be “forward-looking information” within the meaningof applicable securities laws. All statements in this press release,other than statements of historical fact, that address events ordevelopments that management of the Company expects to occur, areforward-looking statements. Forward-looking statements include, butare not limited to, statements with respect to the proposed shareconsolidation. Forward-looking statements are necessarily based upon anumber of estimates and assumptions that, while considered reasonable,are subject to known and unknown risks, uncertainties, and otherfactors which may cause the actual results and future events to differmaterially from those expressed or implied by such forward-lookingstatements. Such factors include, but are not limited to: futuredemand for the Company’s products and services; access to thecapital necessary to execute the Company’s business plan;intellectual property protection; general business, economic,competitive, political and social uncertainties; delays in obtaininggovernmental approvals; and failure to obtain regulatory approvals.There can be no assurance that such statements will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers shouldnot place undue reliance on forward-looking statements. The Companydisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of thisrelease.
For furtherinformation contact:
Kristine Lewis, President
Phone: 905-305-1325
Fax 905-752-0469
Email: KLewis@ntgclarity.com
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