Business
NTG Clarity Provides a Corporate Update for Work Valued at Approximately $6.89 Million CAD
(TheNewswire) Toronto, ON - T heNewswire - January 25, 2023 - NTG Clarity Netwo...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Provides a Corporate Update for Work Valued at Approximately $6.89 Million CAD\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 Toronto, ON - T\n \n \n heNewswire -\n \n \n January 25, 2023 -\n \n \n NTG Clarity Networks Inc.\n \n \n (TSXV:NCI)\n \n \n NTG\nClarity is pleased to announce that it has received 3 purchase orders\n(POs), 1 resource Agreement contract and 1 Letter of Intent (LOI). The\nPOs are from existing customers for renewal of services. The resource\nAgreement is for new resources for a new customer in the Middle East,\nand the LOI is for an existing customer to renew and expand the\nprovision of technical resources.\n \n \n \n \n The breakdown is approximately as follows (based on\nconversions to CAD):\n \n \n \n \n \n \n A Letter of Intent (LOI) for a 1-year renewable\nresource Agreement with an estimated value of $3.5M. NTG will provide\ntechnical resources to this existing customer in the banking sector in\nthe Middle East. The estimated cost of delivery is $2.28M.\n \n \n \n \n \n \n A 1-year renewable resource Agreement with an estimated\nvalue of $2.8M, to provide resources to this new customer in the\nfinancial sector in the Gulf Region. The estimated cost of delivery is\n$1.76M.\n \n \n \n \n \n \n The following business as usual renewals over the last\nfew months:\n \n \n \n \n \n \n A 1-year PO renewal for $400K to provide a technical\nresource to an existing customer in the finance sector in the Middle\nEast.\n \n \n \n \n \n \n A PO for $171K to provide a technical resource for an\nexisting customer in the banking sector in the Middle East.\n \n \n \n \n \n \n A PO for $20K for an IoT pilot for an existing customer\nin the telecommunications sector in the Middle East.\n \n \n \n \n \n \n The value of these POs/Agreements, added to the\nestimated $13M CAD of POs on hand at the end of December 2022, brings\nour backlog to almost $20M CAD in unbilled amounts.\n \n \n \n \n “We are excited to start the new year on a high note\nwith these POs and new work.” said Kristine Lewis, President of NTG\nClarity. “Our continued success with our existing customers and the\naddition of a new customer in the financial sector solidifies our\nposition as a key player in providing products and services to this\nlarge potential mark...