Ms. Kristine Lewis reports
2729252 ONTARIO INC. ACQUIRES SHARES OF NTG CLARITY NETWORKS INC.
2729252 Ontario Inc. (acquirer) has acquired 28 million common shares of NTG Clarity Networks Inc. by way of a non-brokered private placement at a price of three cents per share, for an aggregate purchase price of $840,000. The acquirer is controlled by Ashraf Zaghloul, chief executive officer of NTG, and Kristine Lewis, president of NTG.
Prior to completion of the private placement, the acquirer held 100,000 common shares, which represented 0.07 per cent of the outstanding common shares. After giving effect to the private placement, the acquirer owns 28.1 million common shares, which represent 15.18 per cent of the outstanding common shares.
The common shares were acquired for investment purposes. In the future, the acquirer may, subject to applicable law, acquire or dispose of securities of NTG depending upon a number of factors, including, but not limited to, general market and economic conditions, and other available investment opportunities.
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