NTG Clarity Networks Inc. announced that it has received 3 purchase orders (POs), 1 resource Agreement contract and 1 Letter of Intent (LOI). The POs are from existing customers for renewal of services. The resource Agreement is for new resources for a new customer in the Middle East, and the LOI is for an existing customer to renew and expand the provision of technical resources.

The breakdown is approximately as follows (based on conversions to CAD): A Letter of Intent (LOI) for a 1-year renewable resource Agreement with an estimated value of $3.5 million. NTG will provide technical resources to this existing customer in the banking sector in the Middle East. The estimated cost of delivery is $2.28 million.

A 1-year renewable resource Agreement with an estimated value of $2.8 million, to provide resources to this new customer in the financial sector in the Gulf Region. The estimated cost of delivery is CAD 1.76 million. The following business as usual renewals over the last few months: A 1-year PO renewal for $400,000 to provide a technical resource to an existing customer in the finance sector in the Middle East.

A PO for $171,000 to provide a technical resource for an existing customer in the banking sector in the Middle East. A PO for $20,000 for an IoT pilot for an existing customer in the telecommunications sector in the Middle East. The value of these POs/Agreements, added to the estimated CAD 13 million of POs on hand at the end of December 2022, brings its backlog to almost CAD 20 million in unbilled amounts.