(TheNewswire)
Toronto, ON / T heNewswire / September 1, 2022 / NTG Clarity NetworksInc. (TSX.V:NCI); (OTC:NYWKF) NTG Clarity is pleased to announcethat it has received multiple purchase orders (POs) with a total valueof approximately $6.33M CAD. $5.98M of this is for new work and $0.35Mis for the renewal of existing contracts. These include:
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$5.13M CAD for 42 resources both at the customer siteand at our offshore centre in Egypt. This PO is for new work for amajor Financial Institution in the Gulf region. NTG has alreadydeployed 10 resources and the remaining resources will be deployedwithin the next 6 weeks. The work on this contract should be completedwithin 12 months. This is among the largest valued POs received by NTGin its history.
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2 POs from existing customers to provide 3 resourceswith an estimated value of $252K.
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A PO from a Telecom Operator to renew resources for 3months with an estimated value of $197K.
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Multiple POs from a System Integrator to providemultiple resources with an estimated value of $171K.
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Multiple POs from a Telecom Operator to implement andsupport multiple projects with an estimated value of $157K.
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A PO to implement an ecommerce platform to be completedwithin 6 months with an estimated value of $155K.
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A Contract with a major Bank in the Middle East toprovide Technical Training to its employees to be completed within 2months with an estimated value of $112K.
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A Contract to provide one network professional in NorthAmerica with an estimated value of $80K.
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A PO renewal of onsite support for 6 months with anestimated value of $77.7K.
The value of these POs, added to the estimated $12M CAD of POs on handdiscussed in our previous releases, brings our backlog to over $18MCAD. We are also in the process of negotiating renewals of othercontracts with other existing customers.
To be able toaccommodate the high demand for our offshore services in Egypt, wehave relocated our product team to a new advanced facility in Cairo.This move enables us to house the offshore team in one location andalso enables the product team to focus on the next release of theNTGapps Digital Toolbox. This release will not only expand thecustomers’ verticals it serves, but will also add more advancedfeatures that have been requested by our customers.
These POs demonstrate our customers’ high level ofsatisfaction with NTG’s products and services. Not only arecustomers renewing with us, but they are also significantly increasingtheir business volume year over year. We at NTG have positionedourselves to be a key technology partner with our customers. We havebeen able to provide strong and reliable tier-one services at verycompetitive pricing. This new growth has validated our business modeland proven its scalability. We look forward to expanding our productsand services in other parts of the world, especially NorthAmerica.
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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