NTG Clarity Receives POs Valued at Approximately $900K CAD

Markham, Ontario --News Direct-- NTG Clarity Networks Inc.

Toronto, ON – TheNewswire - October 6, 2022 - NTG Clarity Networks Inc. (TSXV:NCI); NTG Clarity is pleased to announce that it has received multiple purchase orders (POs) with a total value of approximately $900K CAD. $390K of this is for our NTGapps product and the balance is for new resources at one new and one existing customer. These include:

  • 2 POs from an existing telecom customer to provide NTG’s Fixed Ticketing System on our NTGapps platform with an estimated value of $390K.

  • A PO from a new customer in the financial sector to provide resources with an estimated value of $406K.

  • A PO from a major bank in the Middle East to provide a new resource for 6 months with an estimated value of $104K.

The first 2 POs are for our NTGapps Service Management Suite. IT teams use this product to manage the end-to-end delivery of IT services to customers. It includes all the processes and activities to design, create, deliver, and support IT services. It should be mentioned that this is our third implementation for this system, which is gaining momentum for its ease of use and inclusion of best practices based on the ITIL standards. Added to this is our powerful workflow automation that has been part of the NTG products for the last 20 years.

NTG showcased this product at the Mobile World Congress (MWC) in Las Vegas last week and we will demonstrate it in Dubai’s GITEX next week.

These POs demonstrate the trust that NTG builds with its customers. Upon seeing the quality and value of NTG’s products and services, customers are quick to expand their relationship with NTG and procure additional licenses and resources. This trust gives NTG the reputation needed to expand its offering to new customers in growing industries such as the financial sector.

The value of these POs, added to the estimated $18M CAD of POs on hand discussed in our previous releases, brings our backlog close to $19M CAD. We are also in the process of negotiating renewals of other contracts with other existing customers.

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 500 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry’s leading 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

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