MARKHAM, ONTARIO--(CCNMatthews - June 8, 2007) - NTG Clarity Networks Inc. (TSX VENTURE:NCI) ("NTG" or the "Corporation") announces that it is proceeding, with a private placement of up to 2,000,000 units ("Units") at a purchase price of $0.12 per Unit for aggregate consideration of up to $240,000 (the "Offering"). Each Unit will consist of one common share in the capital of NTG ("Common Share") and one-half of a Common Share purchase warrant ("Warrant"). Each whole Warrant will be exercisable into one Common Share at a price of $0.20 per Common Share for a period of one year from the date of issuance. In connection with the Offering, that number of Common Shares equal to 10% of the total Units sold under the Offering may be issued as a finder's fee to an arm's length party. The Offering and the proposed finder's fee are subject to the approval of the TSX Venture Exchange.
NTG will use the proceeds of the Offering for marketing activities and working capital.
Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
NTG Clarity Networks Inc.
Ashraf Zaghloul
Chief Executive Officer and Chairman
(905) 305-1325
(905) 752-0469 (FAX)
Email: azaghloul@ntgclarity.com
Website: www.ntgclarity.com
