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NTG Signs an Offshoring MOU for an Estimated $2.5 Million CAD


Toronto, ON / TNW-Accesswire / February 16, 2021 / NTG Clarity Networks Inc. (TSX.V:NCI);NTG Clarity is pleased to announce that it has signed a Memo of Understanding (MOU) with a major bank in the Gulf region to provide offshore resources and facilities. NTG will provide software development and IT resources through its Egypt subsidiary. The work is expected to start within 30 days. It is estimated that the annual revenue will reach $2.5 Million CAD as the resource build-up takes place.


It is worth mentioning that this is the fourth offshoring project for NTG. The other three (included in previous news releases) were smaller in size but are as important because they expand our services to a transportation company and to government agencies.


“As a result of COVID, there is an increase in working remotely and there is proven productivity for remote work in the software development field. The offshoring of resources to Egypt is becoming increasing popular due to the availability of resources and the competitive pricing. NTG is working hard to capitalize on this trend. We look forward to establishing our Egypt subsidiary as a major hub for offshoring in Egypt” 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 250 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