NexTech AR announces a public offering of shares Other OTC: NEXCF

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SANTA CRUZ, Calif. And TORONTO, July 23, 2020 (GLOBE NEWSWIRE) – NexTech AR Solutions Corp. (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29) (the ” Company ” or ” NexTech“), Is pleased to announce that it has filed and received a preliminary short form prospectus receipt with securities regulators in all provinces of Canada (except Quebec) in connection with a public offering to the savings (the “Offer“) Units of the Company (the”Units”). The Offer is being conducted by Mackie Research Capital Corporation as sole agent and sole bookrunner (the “Agent”).

Each Unit will consist of one ordinary share in the capital of the Company (each being a “Common share“) And one half of the Company’s common share purchase warrant (each whole common share purchase warrant being a”Mandate”). Each warrant may be exercised in one common share (eachShare of mandates») At an exercise price to be determined in the context of the market.

The final price of each Unit, the exercise price of each Warrant and the term of each Warrant will be determined in the market context prior to the filing of the final short form prospectus in respect of the Offering.

The Company has granted the Agent an option (the “Over-allotment option») To cover over-allotments and for market stabilization purposes, exercisable in whole or in part at the Agent’s sole discretion, at any time up to 30 days after the closing of the Offer, to increase the size of the Offer up to 15% of the number of units (and / or their components) sold under the placement, under the same terms and conditions of the placement.

The net proceeds raised in connection with the offering will be used for selling and marketing expenses, research and development, working capital and general business purposes.

The closing of the Offer is currently expected to take place around the week of August 17, 2020 and is subject to certain conditions, including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange (the “Exchange”).

The Company will use commercially reasonable efforts to list the Common Shares and the Subscription Shares on the Exchange, provided that the Company meets all the listing requirements of the Exchange.

Units must be sold “at best” through the Agent by means of a simplified prospectus which will be filed in each of the provinces of Canada except Quebec and in such other territories outside of Canada and the States. -United in exemption. in accordance with applicable securities laws. The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (“US Securities Act”) Or any state securities law. Therefore, the securities may not be offered or sold in the United States (as that term is defined in Regulation S of the US Securities Act) or to, or on behalf of or for the benefit of a US person ( as that term is defined in Regulation S under the US Securities Act), except under transactions exempt from registration under the US Securities Act and under the securities laws of any applicable state. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About NexTech AR Solutions

NexTech is one of the leaders in the rapidly growing augmented reality (AR) industry, estimated at $ 120 billion by 2022, according to Statista. NexTech, the first publicly traded pure-play AR company, began trading on October 31, 2018. NexTech has a two-pronged strategy for rapid growth, including growth through the acquisition of e-commerce companies and the growth of its omnichannel AR SaaS platform called ARitize ™.

The company is pursuing four verticals in AR.

ARitize ™ for e-commerce: The company launched its technologically advanced webAR for e-commerce in early 2019. Current customers include Walther Arms, Wright Brothers, Mr. Steak and Budweiser. NexTech Offers First End-to-End Full-Funnel E-Commerce Solution for AR Industry Including Its 3D Product Capture, 3D Ads for Facebook and Google, “Try it On” Technology for Apparel online, 3D and 360-degree product views, and “one-click shopping”.

ARitize ™ 3D / AR advertising platform: The company launched this ad platform in the first quarter of 2020. The ad platform will be the industry’s first end-to-end solution through which the company will leverage its creation of 3D assets into 3D, 360, AR ads. In 2019, according to IDC, global ad spend will be around $ 725 billion.

InfernoAR: InfernoAR is a SaaS video platform that integrates interactive video, artificial intelligence and augmented reality into a secure platform to enable businesses to create learning experiences and virtual event management. InfernoAR offers automated captions in over 64 languages.

ARitize ™ Hollywood Studios: The studio has created an exclusive entertainment venue for which it produces immersive content using 360 video and AR as its primary display platform.

To find out more, follow us on Twitter, Youtube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.nextechar.com.

For more information, please contact:

Evan Gappelberg
General manager
[email protected]
(631) 655-6733

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution regarding forward-looking information

Certain information presented in this press release, including, without limitation, information regarding required regulatory approvals and anticipated development of NexTech’s products and markets, is forward-looking information within the meaning of applicable securities laws. By their nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond NexTech’s control. The forward-looking information contained in this press release is based on certain key expectations and assumptions made by NexTech, including expectations and assumptions regarding the conditions, timing and potential completion of the Offer, the satisfaction of regulatory requirements in various jurisdictions and use of the product. of the Offering.

Forward-looking information is subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this press release. Principal risks and uncertainties include, but are not limited to: general global and local (national) economic, business and trade conditions; government and regulatory requirements and actions of government authorities; and relationships with customers, business partners and competitors, the company’s ability to win business with new customers and grow the businesses of existing customers, when new customers win and the achievement of development goals of the society. In view of the foregoing, readers should not place undue reliance on the forward-looking information contained in this press release regarding the development of NexTech’s products and markets and obtaining all required regulatory approvals. A full discussion of other risks that impact NexTech can also be found in NexTech’s public reports and filings which are available under NexTech’s profile at www.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking information, as actual results may differ materially from forward-looking information. NexTech does not undertake to update, correct or revise forward-looking information as a result of any new information, future events or otherwise, except as required by applicable law.

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