Business
NTG Clarity Networks Inc. Announces Private Placement of Common Shares
(TheNewswire) Toronto, ON – TheNewswire - November 17, 2023 - NTG Clarit...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Networks Inc. Announces Private Placement of Common Shares\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, ON –\n \n \n TheNewswire\n-\n \n \n November 17, 2023 - NTG\nClarity Networks Inc. (TSXV:NCI\n \n \n )\n \n \n ;\n \n \n (\n \n \n OTC:NYWKF)\n \n \n (the “\n \n \n Company\n \n \n ”) today\nannounced that it plans to complete a non-brokered private placement\nof\n \n \n \n up to 37,000,000\ncommon\n \n \n \n shares\n \n \n \n of the Com\n \n \n \n \n \n \n pany (“\n \n \n \n \n Common Shares\n \n \n \n \n ”)\n \n \n \n at a price\nof $0.03 per Common Share for gross proceeds of up to\n \n \n \n $1,110,000 (the “\n \n \n \n \n Private\nPlacement\n \n \n \n \n ”). The Common\nShares issued pursuant to the Private Placement will be subject to a\nfour month hold period. The completion of the Private Placement is\nsubject to customary conditions including approval of the TSX Venture\nExchange.\n \n \n \n \n \n \n The Company anticipates using the\nproceeds of the Private Placement for reducing accounts payable and\nfor working capital and general corporate purposes.\n \n \n \n \n \n \n \n The Private Placement\nwill be a related party transaction within the meaning of applicable\nsecurities laws as it is anticipated that officers, directors or other\ninsiders will subscribe for all or a substantial portion of the Common\nShares issued pursuant to the Private Placement. The Private Placement\nwill be exempt from the valuation and minority approval requirements\napplicable to related party transactions on the basis that the value\nof the Private Placement will be less than 25 percent of the\nCompany’s market capitalization.\n \n \n \n \n \n The Company\nanticipates filing a material change report less than 21 days prior to\nclosing the Private Placement in order to provide the Company with\naccess to the additional capital as expeditiously as\npossible.\n \n \n \n \n \n \n About NTG Clarity\nNetworks Inc.\n \n \n \n \n \n \n NTG Clarity Networks’ vision is to be\na global leader in providing networking solutions. As a Canadian\ncompany established in 1992, NTG Clarity has delivered networking, IT\nand network enabled application software solutions to network service\nprovid...