QIS Update #13 - 2017 - NTG Clarity Networks secures $4.5 million contract and Opawica Explorations management changes - October 23rd 2017
Included in this update:
- - NTG Clarity Networks announces $4.5 million contract
- Opawica Explorations announces management changes
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NTG Clarity Networks Inc. (NCI:TSX-V)
Current Price: $0.045 (coverage commenced Feb. 4/10 - $0.045)
NTG CLARITY NETWORKS ANNOUNCES $4.5 MILLION CONTRACT
NTG Clarity Networks Inc. has signed a significant frame agreement contract with an operator in the Gulf region, to support the country's most advanced mobile telecommunications service provider, to help enhance its operational efficiency. The initial phase is estimated at $4.5-million over a three-year period. NTG will provide technical professional resources and services to support various technology operations within the company.
NTG will provide on-site resources over the next three years commencing in October, 2017. The company expects the contract value to increase in 2018 as it supplies additional resources.
"We are very proud to be chosen by one of the most advanced mobile telecommunications service companies in the Gulf region to provide this important service. The increased presence in this country will enable NTG to expand our service offerings and further increase our customer base," said Kristine Lewis, NTG Clarity's president.
QIS Capital: The market initially responded very favourably to this contract press release last week trading more than 3 million shares the following day. This has helped to clean up a lot of the stock overhang after a very challenging couple of years. NTG Clarity has continued to show quarter over quarter growth over the past year and has its next financials to report by the end of November. Management remains confident that the company can continue to bring new contracts to the table and is committed to bringing NTG Clarity back to profitability by the end of 2017.
Opawica Explorations Inc. (OPW:TSX-V)
Current Price: $0.03 (coverage commenced May 11/17 - $0.045)
OPAWICA EXPLORATIONS INC. ANNOUNCES OFFICER AND DIRECTOR CHANGES
Opawica Explorations Inc. has confirmed that, further to its news release of Oct. 20, 2017, David Taylor has withdrawn his resignation as president, chief executive officer and a director of the company due to unsatisfied conditions.
In this regard the company advises that, at a directors meeting held on Friday, Oct. 20, 2017, the agreement pursuant to which Mr. Taylor served as president and chief executive officer of the company was terminated effective forthwith. Paul Antoniazzi, a director of the company, was appointed chairman, president and chief executive officer.
QIS Capital: As alluded to in our last QIS Update, Opawica is undergoing some significant restructuring and management changes are not immune. We continue to expect this restructuring to take 1-2 months following which the company will likely need to engage in another round of financing activity. While we were anticipating a robust period of drilling activity for Opawica when we commenced coverage, we are now placed in a holding pattern until the company can sort through its management changes, share consolidation and financing requirements.
Disclaimer: This article is for informational purposes only. The information contained within this article should not be construed as offering investment advice. Those seeking direct investment advice should consult a qualified, registered, investment professional. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The company profiled assumes no liability for the information presented. This is not a direct or implied solicitation to buy or sell securities. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. The author(s) owns directly or indirectly 1,661,000 shares of NTG Clarity Networks Inc. and 250,000 shares and 150,000 warrants of Opawica Explorations Inc. QIS Capital may have a financial relationship with these companies and may trade in the stocks mentioned. No stock exchange has approved or disapproved of the information contained herein. Copyright © 2003 - 2017 QIS Capital Corporation.