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NTG
Clarity Announces
Shares for Debt
Private Placement |
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TORONTO,
ONTARIO--(CCNMatthews
- Aug. 25,
2005) - NTG
Clarity Networks
Inc., (TSX
VENTURE:NCI)
a leader in
delivering
network, IT
and infrastructure
solutions,
today announced
that it has
issued 4 million
common shares
of the Company
at a deemed
price of $0.06
per share
to settle
indebtedness
owed to employees,
senior officers,
directors
and consultants
of the Company.
The transaction
will help
NTG reduce
it debts and
improve its
balance sheet.
The private
placement
was been approved
by the board
of directors
of the Company
and conditionally
approved by
the TSX Venture
Exchange.
The private
placement
is not subject
to the requirements
of Ontario
Securities
Commission
Rule 61-501
applicable
to related
party transactions
as the value
of the transaction
is below 25
percent of
the Companys
market capitalization.
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NTG Clarity
Networks’
mission is
to be the
worlds leading
networking
solutions
company. Established
in 1992, NTG
Clarity is
a Canadian
leader in
delivering
networking,
IT and network
enabled application
software solutions
to network
service providers
and large
enterprises.
More than
120 network
professionals
provide design,
engineering,
implementation,
software development
and security
expertise
to the industry's
leading network
service providers
and enterprises.
NTG Clarity's
services are
offered internationally,
with offices
and operations
currently
in Toronto,
Ottawa, Montreal,
Calgary. and
Cairo.
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For
Further Information,
Contact:
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