Toronto, ON / TNW-Accesswire / August 11, 2022 / NTG Clarity Networks Inc. (TSX.V:NCI);NTG Clarity is pleased to announce that it has received a Purchase Order (PO) from a major financial institution in the Middle East valued at approximately $4.16M. NTG will provide professional resources both onshore and offshore to this major institution.

 

This renewal and extension of the services is 15.5% more than the PO issued by this customer last year. The increase is attributed to the onboarding of additional resources and an increase in the rates charged. The value of this PO, added to the $8.7M of POs on-hand that was discussed in our previous release, brings our backlog to a healthy $12.86M. We are also in the process of negotiating renewals of other contracts with our other existing customers.

 

“We are excited to receive this contract from our customer. This PO highlights our customers’ continuing trust in our abilities and eagerness to expand our professional relationship. This contract continues to validate our strategy of expanding in the financial/banking sector and contributes to the growth of our offshoring services offering.” said Kristine Lewis, NTG Clarity’s President.

 

 

In an unrelated matter, the Company announced that share options will be issued for each member of the Company’s Board of Directors; Ashraf Zaghloul and Kristine Lewis will receive 700,000 share options each; Saleem Siddiqi and Zeeshan Hasnain will receive 350,000 share options each. Each option will be exercisable at a price of $0.05 per share and will vest immediately.

 

About NTG Clarity Networks Inc.

NTG Clarity Networks’ vision is to be a global leader in providing networking solutions. As a Canadian company established 30 years ago 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.

 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

 

For Further Information:

Kristine Lewis, President, NTG Clarity Networks Inc.

Ph: 905-305-1325

Fax: 905-752-0469

Email: klewis@ntgclarity.com