NCI:CC - NTG Clarity Signs a Framework Agreement for Outsource/Offshore Services with an Estimated Value of $3 Million CAD
(TheNewswire)
Toronto, ON – TheNewswire - May 16, 2022 / NTG Clarity Networks Inc.(TSX.V:NCI); NTG Clarity is pleased to announcethat it has signed a 7-month renewable Framework Agreement foroutsource and offshore resources for a digital factory with a leadingbank in the Gulf Region. We will provide resources in most ITdisciplines, with a focus on specialized skills such as full stack,mobile app, UI/UX, and QA developers, as well as Product Managers.Once all of the resources are onboard, the annual income is estimatedto be $3M CAD and the estimated expenses for this revenue are expectedto be $2M CAD.
This renewable agreement is with a different department within thesame customer whose $3.5M agreement was previously announced inJanuary 2021. This brings the estimated total value for these twoagreements to $6.5M, once all resources are onboard.
“It is important to recognize that this will be one of the largestcontract values in the history of NTG Clarity, validatingmanagement’s strategy of expanding our services in digitaltransformation specially with the financial sector to achieve growthand profitability.
This affirms the continued recognition of the NTG brand as a providerof high quality, competitively priced resources and services both withour existing customers, and new ones in diverse sectors. In 2022, welook forward to capitalizing on this brand recognition and to furtherexpand the reach of our offshore services.” said Kristine Lewis, NTGClarity’s President.
About NTG Clarity NetworksInc.
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 325 network professionalsprovide design, engineering, implementation, software development andsecurity expertise to the industry’s leading network serviceproviders and enterprises.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in policies of the TSX Venture Exchange) acceptsresponsibility for 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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