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NTG Signs a Framework Agreement for Outsource/Offshore Services with an Estimated Value of $3 Million CAD


Toronto, ON / TNW-Accesswire / May 16, 2022 / NTG Clarity Networks Inc. (TSX.V:NCI);NTG Clarity is pleased to announce that it has signed a 7-month renewable Framework Agreement for outsource and offshore resources for a digital factory with a leading bank in the Gulf Region. We will provide resources in most IT disciplines, 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 estimated to be $3M CAD and the estimated expenses for this revenue are expected to be $2M CAD.


This renewable agreement is with a different department within the same customer whose $3.5M agreement was previously announced in January 2021. This brings the estimated total value for these two agreements to $6.5M, once all resources are onboard.


 “It is important to recognize that this will be one of the largest contract values in the history of NTG Clarity, validating management’s strategy of expanding our services in digital transformation specially with the financial sector to achieve growth and profitability.


This affirms the continued recognition of the NTG brand as a provider of high quality, competitively priced resources and services both with our existing customers, and new ones in diverse sectors. In 2022, we look forward to capitalizing on this brand recognition and to further expand the reach of our offshore services.” said Kristine Lewis, NTG Clarity’s President.


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 325 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.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts 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