NCI:CC - NTG Clarity Provides a Corporate Update for Work Valued at Approximately $6.89 Million CAD

(TheNewswire)

Toronto, ON - T heNewswire - January 25, 2023 - NTG Clarity Networks Inc. (TSXV:NCI) NTGClarity is pleased to announce that it has received 3 purchase orders(POs), 1 resource Agreement contract and 1 Letter of Intent (LOI). ThePOs are from existing customers for renewal of services. The resourceAgreement is for new resources for a new customer in the Middle East,and the LOI is for an existing customer to renew and expand theprovision of technical resources.

The breakdown is approximately as follows (based onconversions to CAD):

• A Letter of Intent (LOI) for a 1-year renewableresource Agreement with an estimated value of $3.5M. NTG will providetechnical resources to this existing customer in the banking sector inthe Middle East. The estimated cost of delivery is $2.28M.

• A 1-year renewable resource Agreement with an estimatedvalue of $2.8M, to provide resources to this new customer in thefinancial sector in the Gulf Region. The estimated cost of delivery is$1.76M.

The following business as usual renewals over the lastfew months:

• A 1-year PO renewal for $400K to provide a technicalresource to an existing customer in the finance sector in the MiddleEast.

• A PO for $171K to provide a technical resource for anexisting customer in the banking sector in the Middle East.

• A PO for $20K for an IoT pilot for an existing customerin the telecommunications sector in the Middle East.

The value of these POs/Agreements, added to theestimated $13M CAD of POs on hand at the end of December 2022, bringsour backlog to almost $20M CAD in unbilled amounts.

“We are excited to start the new year on a high notewith these POs and new work.” said Kristine Lewis, President of NTGClarity. “Our continued success with our existing customers and theaddition of a new customer in the financial sector solidifies ourposition as a key player in providing products and services to thislarge potential market. We are committed to upholding our reputationfor professionalism and quality of work in delivering innovativesolutions to help its clients achieve their business goals.”

About NTG Clarity NetworksInc.

NTG Clarity Networks’ vision is to be a global leaderin providing networking solutions. As a Canadian company establishedin 1992, NTG Clarity has delivered networking, IT and network enabledapplication software solutions to network service providers and largeenterprises. More than 500 IT and network professionals providedesign, engineering, implementation, software development and securityexpertise 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 their entirety by thisnotice. The Company assumes no obligation to update forward lookingstatements should circumstances or management's estimates or opinionschange.

The TSX Venture Exchange does not accept responsibilityfor the adequacy or accuracy of this release.

For Further Information:

Kristine Lewis, President, NTG Clarity NetworksInc.

Ph: 905-305-1325

Fax: 905-752-0469

Email: klewis@ntgclarity.com

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