18:21:18 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



NTG Clarity Networks Inc
Symbol NCI
Shares Issued 147,972,355
Close 2023-11-17 C$ 0.03
Market Cap C$ 4,439,171
Recent Sedar Documents

NTG Clarity arranges $1.11-million financing

2023-11-17 20:00 ET - News Release

Mr. Adam Zaghloul reports

NTG CLARITY NETWORKS INC. ANNOUNCES PRIVATE PLACEMENT OF COMMON SHARES

NTG Clarity Networks Inc. plans to complete a non-brokered private placement of up to 37 million common shares of the company at a price of three cents per common share for gross proceeds of up to $1.11-million. The common shares issued pursuant to the private placement will be subject to a four-month hold period. The completion of the private placement is subject to customary conditions, including approval of the TSX Venture Exchange.

The company anticipates using the proceeds of the private placement for reducing accounts payable and for working capital and general corporate purposes.

The private placement will be a related party transaction within the meaning of applicable securities laws as it is anticipated that officers, directors or other insiders will subscribe for all or a substantial portion of the common shares issued pursuant to the private placement. The private placement will be exempt from the valuation and minority approval requirements applicable to related party transactions on the basis that the value of the private placement will be less than 25 per cent of the company's market capitalization.

The company anticipates filing a material change report less than 21 days prior to closing the private placement in order to provide the company with access to the additional capital as expeditiously as possible.

About NTG Clarity Networks Inc.

NTG Clarity's vision is to be a global leader in providing networking solutions. As a Canadian company established in 1992, NTG Clarity has delivered networking, IT (information technology) and network enabled application software solutions to network service providers and large enterprises. More than 600 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading enterprises.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.