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NTG Clarity Receives Over $1 Million in POs and LOIs
Toronto, ON / TNW-ACCESSWIRE / October 31, 2016 / NTG Clarity Networks Inc. (TSX.V:NCI), is pleased to announce that the Company has received several Purchase Orders and Letters of Intent from new and existing customers.
LOI from a new customer in the Gulf area, for the implementation of NTG Clarity's Smart Building technologies. This solution encompasses the latest innovations in Networking, Security CCTV, Access Control, Public Address Audio Visual, IPTV, Queuing and Nurse Call Systems. The value of this 5-month project is estimated to be $725,000.
A PO from a government agency to provide resources and support services for a 6-month period. This project is estimated to be $250,000.
A PO from a major system integrator to provide three resources for quality assurance work. The project for this new customer is estimated to be $100,000.
"We are beginning to observe positive signs of economic stabilization in the Gulf region. These new orders validate our strategy of retaining our regional resources base and we expect to see continued growth from various sectors across the Gulf for the remainder of 2016 and into 2017. " said Ashraf Zaghloul, NTG Clarity’s Chairman and CEO.
In an unrelated matter, the Company announced that 100,000 share options will be issued for each member of the Board of Directors for the Company; Ashraf Zaghloul, M. Adel Zaghloul, M. Zafar Farooqui, Sinclair Stevens, Kristine Lewis and Nick Hamilton-Piercy. An additional 50,000 options will be issued to each of the managing directors; Ashraf Zaghloul, M. Adel Zaghloul and Kristine Lewis. Each option will be exercisable at a price of $0.10 per share and will be to replace expired options.
About NTG Clarity Networks Inc.
NTG Clarity Networks’ vision is to be a global leader in providing networking solutions. 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. More than 400 network professionals provide design, engineering, implementation, software development and security expertise to the industry’s leading network service providers and 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.
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