NovaTeqni Receives Purchase Order From United Nations Population Fund, Shares Rallying Off Recent Lows
Shares of NovaTeqni Corp. (TSX-Venture:NTQ) (OTCQB:NVTQF) are on the move higher as the company announces that they have won a tender worth approximately $2,300,000 U.S. for the supply of a cellular based mobile management system for the United Nations Population Fund (UNFPA) to be used for digital census data collection in Burkina Faso.
NovaTeqni will soon be sending a team to Burkina Faso to co-ordinate logistics, support and skills transfer training. The project is scheduled to complete within three and a half months.
Gerhard Mynhardt, CEO of NovaTeqni stated, "This tender is the first project with the UNFPA for NovaTeqni. NovaTeqni has worked with other branches of the United Nations and we see this as a very exciting move into new areas of business. The Company is confident that this will lead to other projects for its mobile data collection solutions, including biometrics-based solutions for accurate and convenient field data capture including remote capture of hand written forms."
With today’s news, shares of NTQ have rallied in mid-day trading up 21% to $0.20 on strong volume. While the trading action is impressive today, the stock is currently flirting near 52-week lows with shares in a prolonged downtrend which began in late-November. Perhaps today’s news will be the catalyst needed for a trend direction change.