NCI:CC - NTG Clarity Receives POs Valued at Approximately $2.656 Million CAD
(TheNewswire)
Toronto, ON – TheNewswire - October 25, 2022 - NTG Clarity Networks Inc.(TSXV:NCI); NTG Clarity is pleased to announcethat it has received multiple purchase orders (POs) with a total valueof approximately $2.656M CAD. $1.148M of this is for the upgrade andsupport of our NTS OSS/BSS product installed in a Smart City in theMiddle East. The balance is for new resources at existing customers.
The details are:
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A PO from an existing customer serving the publicsector to upgrade and support our existing installation of NTS, ourOSS/BSS software product. This one-year contract has an estimatedvalue of $1.148M.
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A PO from an existing systems integrator customer toprovide 5 new resources for 8 months with an estimated value of$577K.
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Multiple POs from a major bank in the Middle East toprovide new resources with an estimated value of $931K. This isagainst the $3.5M, one-year renewable Framework Agreement announcedJanuary 11, 2022.
These POs speak to NTG’s commitment to fulfilling its agreement withthe highest possible quality. While we continue to close new deals, asignificant portion of our sales comes in the form of expandedbusiness from satisfied customers. We have distinguished ourselves asproviders of high-quality software products and professionalresources; when it comes time to renew licenses and contracts ourcustomers consistently and emphatically agree.
The value of these POs, added to the estimated $19M CAD of POs on handdiscussed in our previous releases, brings our backlog close to $21MCAD since the end of Q2 2022. We also continue to negotiate therenewals of other contracts with other existing customers.
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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