NCI:CC - NTG Clarity Receives a Purchase Order Valued at $4.16M CAD
(TheNewswire)
Toronto, ON / T heNewswire / August 11, 2022 / NTG Clarity Networks Inc.(TSXV:NCI); NTG Clarity is pleased toannounce that it has received a Purchase Order (PO) from a majorfinancial institution in the Middle East valued at approximately$4.16M . NTG will provide professionalresources both onshore and offshore to this major institution.
This renewal and extension of the services is 15.5% more than the POissued by this customer last year. The increase is attributed to theonboarding of additional resources and an increase in the ratescharged. The value of this PO, added to the $8.7M of POs on-hand thatwas discussed in our previous release, brings our backlog to a healthy$12.86M. We are also in the process of negotiating renewals of othercontracts with our other existing customers.
“We are excited to receive this contract from our customer. This POhighlights our customers’ continuing trust in our abilities andeagerness to expand our professional relationship. This contractcontinues to validate our strategy of expanding in thefinancial/banking sector and contributes to the growth of ouroffshoring services offering.” said Kristine Lewis, NTG Clarity’sPresident.
In an unrelated matter, the Company announced that share options willbe issued for each member of the Company’s Board of Directors;Ashraf Zaghloul and Kristine Lewis will receive 700,000 share optionseach; Saleem Siddiqi and Zeeshan Hasnain will receive 350,000 shareoptions each. Each option will be exercisable at a price of $0.05 pershare and will vest immediately.
About NTG Clarity NetworksInc.
NTG Clarity Networks’ vision is to be a global leader in providingnetworking solutions. As a Canadian company established 30 years agoin 1992, NTG Clarity has delivered networking, IT and network enabledapplication software solutions to network service providers and largeenterprises. More than 400 network professionals provide design,engineering, implementation, software development and securityexpertise to the industry’s leading network service providers andenterprises.
Forward Looking Information
Certain statements in this release, other than statements ofhistorical fact, are forward looking information that involves variousrisks and uncertainties. Such statements relating to, among otherthings, the prospects for the company to enhance operating results,are necessarily subject to risks and uncertainties, some of which aresignificant in scope and nature.
These uncertainties may cause actual results to differ frominformation 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 responsibility for theadequacy 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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