NTG Clarity Announces Proposed Private Placement of up to $1,000,000 Convertible Debentures
June 28 2013 - 1:05PM
Access Wire
June 28, 2013, Toronto, Ontario. NTG Clarity Networks
Inc., (TSX VENTURE:NCI) is pleased to announce that it intends to
complete a private placement of a series of unsecured convertible
debentures in the aggregate principal amount of up to CDN
$1,000,000 in units of CDN $5,000 (the "Debentures"). The
Debentures shall bear interest at the rate of ten (10%) percent per
annum and shall mature two (2) years following the date of
issuance.
The principal amount of the Debentures shall be
convertible into common shares of the Corporation at any time prior
to maturity at the option of the holder at a conversion price of
$0.25 per common share. The Debentures will also have a forced
conversion provision whereby the Corporation may force the
conversion of the Debentures at a price of $0.25 per common share
if at any time the closing price exceeds $0.35 for 7 consecutive
days.
Over the past 30 days, NTG Clarity has
announced over $8 million in new Letters of Intent with the
majority of the work to be completed over the balance of 2013. To
fund this growth and to provide financial flexibility to gain
additional revenue opportunities, the Company is required to
finance its receivables and other obligations. Proceeds from this
convertible debenture will be used predominantly as working capital
to fund NTG Clarity's growth.
Completion of the private placement
herein contemplated is subject to market and other conditions and
the Company obtaining all regulatory body approvals in connection
therewith including without limitation, approval of the TSX Venture
Exchange Inc. The private placement is only available to persons
and in jurisdictions permitted by the applicable securities
regulatory authorities.
About NTG Clarity Networks Inc.
NTG Clarity Networks'
(www.ntgclarity.com) vision is to be a global leader in providing
networking solutions. Established in 1992, NTG Clarity is a leader
in Canada in delivering networking, IT and network enabled
application software solutions to network service providers and
large enterprises. More than 200 network professionals provide
design, engineering, implementation, software development and
security expertise to the industry's leading network service
providers and enterprises.
For
more information please contact:
Doren Quinton, President QIS Capital
Ph: 250-377-1182
Fax:
250-377-1183
Email:
info@smallcaps.ca
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