(via Thenewswire.ca)
Toronto, ON / TheNewswire / December 24, 2015 / NTG Clarity Networks Inc. (TSX.V:NCI) announced that it has filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid which shall commence on December 31, 2015 and terminate on the earlier of December 30, 2016 or such date as all shares which are subject to the Normal Course Issuer Bid are purchased.
In the opinion of the board of directors of NTG, the market price of the common shares of NTG does not accurately reflect the value of those shares. As a result, NTG's common shares may continue to become available for purchase at prices which make them an appropriate use of funds of the Company.
NTG intends to attempt to acquire up to an aggregate of 1,800,000 of its common shares over the next 12 month period representing approximately 5% of the issued and outstanding common shares. There were 36,065,891 common shares of NTG issued and outstanding as of December 10, 2015.
Purchases subject to this Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange by Global Maxfin Capital Inc. on behalf of NTG. Once purchased the common shares will be returned to treasury for cancellation.
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 400 network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading network service providers and enterprises.
Forward Looking Information
This press release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this press release includes references, express or implied, to NTG's intention to commence a normal course issuer bid, TSXV approval, the maximum number of common shares that may be purchased and the timing thereof. By its very nature, the forward-looking information contained in this press release requires NTG and its management to make assumptions that may not materialize or that may not be accurate. In addition, the forward-looking information is subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of NTG, which could cause actual results, expectations, achievements or performance to differ materially. Although NTG believes that the expectations reflected in its forward-looking information are reasonable, it can give no assurances that those expectations will prove to be correct. NTG undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release..
For Further Information:
Doren Quinton, President QIS Capital
Ph:250-377-1182
Fax:250-377-1183
Email:info@smallcaps.ca
Kristine Lewis, President, NTG Clarity Networks Inc.
Ph: 905-305-1325
Fax: 905-752-0469
Email: klewis@ntgclarity.com
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