(TheNewswire)
Toronto, ON / T heNewswire / July 2, 2024 / NTG Clarity Networks Inc.(TSX.V:NCI, OTC: NYWKD); NTG Clarity is excitedto announce that it has received new purchase orders (POs) for a totalof $5M CAD in renewals for existing customers in the Financial, Government,and Telecom sectors.
NTG has been a go-to provider of outsourced softwaredevelopment solutions for several of the Middle East’s largestfinancial institutions, and these POs show a deepening of thoserelationships. The breakdown of the work is as follows, with allcustomers in the Middle East:
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$5M in POs and contracts for renewed work:
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$4.8M to provide onsite and offshore professionalservices for 10 months for an existing customer in the Financialsector
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$136K across two POs to provide onsite and offshoreprofessional services for one year for an existing customer in theGovernment sector
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$59K to provide NTGapps product enhancements for threemonths for an existing customer in the Telecom sector
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$5K to provide NTGapps product enhancements for anexisting customer in the Telecom sector
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Following last month’s announcement of two largecontracts with Middle Eastern financial institutions, we now haveanother large financial institution choosing to expand theirrelationship with NTG as their provider of outsourced softwaredevelopment services. We are continuing to see a trend of financialinstitutions investing in becoming the region’s financial hub,requiring more and more digital infrastructure.
“It’s amazing that another one of our financialservices customers is expanding our engagements to enhance theirdigital infrastructure,” said Adam Zaghloul, Vice President,Strategy & Planning of NTG Clarity. “With this $4.8M PO, morethan 40 professionals will be working onsite and offshore on allaspects of the software development lifecycle.”
As our second quarter comes to a close, we look forwardto releasing and discussing the financial results by the exchange’sdeadline, as well as reviewing our targets for the year and updatingour published figure of unbilled work on hand.
About NTG Clarity NetworksInc.
NTG Clarity Networks’ vision is to be a global leaderin digital transformation solutions. As a Canadian company establishedin 1992, NTG Clarity has delivered software, networking, and ITsolutions to large enterprises including financial institutions andnetwork service providers. More than 700 IT and network professionalsprovide design, engineering, implementation, software development andsecurity expertise 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.
For Further Information:
Adam Zaghloul, Vice President, Strategy &Planning
NTG Clarity Networks Inc.
Ph: 905-305-1325
Fax: 905-752-0469
Email: adam@ntgclarity.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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