NTG Clarity Announces Work Valued at $11.1 Million

Rhea-AI Summary

NTG Clarity Networks has secured three Purchase Orders worth $11.1 million under a Master Service Agreement announced in December 2024. The agreement, originally valued at $22 million over three years, has seen a significant 50% increase in anticipated service levels for its first year of operations, which began in January 2025.

The Purchase Orders cover both offshore and onsite software development services. This expansion aligns with Saudi Arabia's Vision 2030 digital transformation initiatives, where NTG is experiencing increased contract renewals with larger engagements over extended periods.

According to Adam Zaghloul, VP of Strategy & Planning, the expanded orders reflect growing client demand and satisfaction with NTG's services, leading to accelerated growth for both the company and its partners.

Positive

• Secured $11.1M in new purchase orders, 50% higher than anticipated first-year service levels
• Three one-year POs received against $22M Master Service Agreement
• Expanded contract value indicates growing client trust and satisfaction
• Successfully executing on Saudi Arabia's Vision 2030 digital transformation projects

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - April 30, 2025) - NTG Clarity Networks Inc. (TSXV: NCI) (OTC Pink: NYWKF); NTG Clarity ("NTG") is pleased to announce it has received three Purchase Orders ("POs") against the Master Service Agreement previously announced in December 2024 estimated to be worth $22 million over three years.

The $11.1 million, across three one-year POs, is for a mix of offshore and onsite software development services. These POs represent an approximately 50% increase over the anticipated service levels for the first year of work related to the $22 million agreement, for which work began in January 2025.

As digital transformation work related to Saudi Arabia's vision 2030 continues to accelerate, NTG is seeing continued renewals of contracts for larger engagements over longer periods of time.

"The growing demand for our services is clearly reflected in these expanded purchase orders," said Adam Zaghloul, Vice President of Strategy & Planning at NTG Clarity. "Clients are seeing real business impact from our work, and that success is fueling both the size and number of projects they entrust to us. It's incredibly rewarding to see the results we're delivering translate into accelerated growth for both NTG and our partners."

About NTG Clarity Networks Inc.
NTG Clarity Networks' vision is to be a global leader in digital transformation solutions. As a Canadian company established in 1992, NTG Clarity has delivered software, networking, and IT solutions to large enterprises including financial institutions and network service providers. More than 1000 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.

For Further Information:
Adam Zaghloul, Vice President, Strategy & Planning
NTG Clarity Networks Inc.
Ph: 905-305-1325
Fax: 905-752-0469
Email: adam@ntgclarity.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250234

FAQ

How much are the new purchase orders worth for NTG Clarity (NYWKF) announced in April 2025?

NTG Clarity received three purchase orders totaling $11.1 million, spread across three one-year terms for offshore and onsite software development services.

What percentage increase do the new POs represent for NTG Clarity's (NYWKF) December 2024 agreement?

The new purchase orders represent a 50% increase over the expected service levels for the first year of work related to the previously announced $22 million agreement.

When did NTG Clarity (NYWKF) begin work on their $22 million Master Service Agreement?

NTG Clarity began work on the $22 million Master Service Agreement in January 2025.

What type of services will NTG Clarity (NYWKF) provide under the $11.1 million purchase orders?

NTG Clarity will provide a mix of offshore and onsite software development services related to Saudi Arabia's Vision 2030 digital transformation work.

How long is the duration of NTG Clarity's (NYWKF) new purchase orders announced in April 2025?

The purchase orders are structured as three one-year POs, supporting work related to the broader three-year Master Service Agreement.