NYWKF - NTG Clarity Receives Demand Letter from its Lender
(via TheNewswire)
Toronto, ON - TheNewswire - September 17, 2019 - NTG Clarity Networks Inc. (TSXV:NCI) (OTC:NYWKF), announces that the Company has received a formal demand for payment of its Bank facilities. As stated in the 2018 year end and subsequent quarterly reports, NTG is in breach of its requirements under the Existing Loan Agreement with the bank.
The Bank has formally demanded payment of our facilities, amounting to CAD $7,644,350.27 and US $178,088.52 and has requested payment in full by no later than (10) days from September 16, 2019. If payment is not received, the Bank "..will take such steps as it may consider necessary or appropriate to collect the Indebtedness.."
Management is reviewing the Company's options of how to extend the loan or settle with the Bank.
About NTG Clarity Networks Inc.
As a Canadian company established in 1992, NTG Clarity has delivered networking, IT and network enabled application software solutions to network service providers and large enterprises.
Forward Looking Information
Certain statements in this release, other than statements of historical fact, are forward looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature.
These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward looking statements should circumstances or management's estimates or opinions change.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For Further Information:
Kristine Lewis, President
Phone: 905-305-1325
Fax 905-752-0469
Email: KLewis@ntgclarity.com
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