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Classified in: Science and technology
Subject: MISCELLANEOUS

NexTech AR Files to Uplist on NASDAQ Capital Markets


NEW YORK, July 09, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, Video Conferencing and Virtual Events, is pleased to announce that NexTech has filed to uplist its stock to the Nasdaq Capital Market.

Evan Gappelberg, CEO of NexTech comments, "We have worked very hard to be able to meet the requirements for Nasdaq and believe that we check all the boxes. Our plan to move to a national exchange reflects our capital raising success, as well as the success and momentum in growing our video conferencing software platform InfernoAR and augmented reality business. We believe that listing on Nasdaq will help broaden our shareholder base, increase appeal to institutional investors, indexes and ETF's and provide shareholders with better liquidity."

Kashif Malik, CFO of NexTech comments, "I'm excited for the prospect of being listed on such a prestigious exchange as NASDAQ and have been working with our council and NASDAQ to ensure that we meet the criteria to be approved and to get our form 40-F registration statement and form F-X to the SEC."

After extensive discussions with our council and the NASDAQ, the Company believes it will meet the requirements for listing NexTech's common stock on The Nasdaq Capital Market. Although the timing is not certain and there can be no guarantee that the company gets approved to be listed the company is expecting the process to take 60 days.

Before any listing of the Company's common stock on The NASDAQ Capital Market can occur, Nasdaq will need to give final approval of the Company's listing application. The Company believes it currently meets all listing requirements for listing on The Nasdaq Capital Market. Notwithstanding the foregoing, no assurance can be given that the Company's common stock will ultimately be listed on The Nasdaq Capital Market.

As part of the company's compensation plan it has issued 50,000 stock options to a consultant to the company at a strike price of $6.20 with 3 year vesting terms.

Recent Company Highlights in 2020:

About NexTech AR Solutions Corp.

NexTech is one of the leaders in the rapidly growing AR industry, estimated to hit $120 billion by 2022, according to Statista. NexTech, the first publicly traded "pure-play" AR company, began trading on the CSE on October 31st, 2018. NexTech has a two-pronged strategy for rapid growth including growth through acquisition of eCommerce businesses and growth of its omni-channel AR SaaS platform called ARitizetm.

The company is pursuing four verticals in AR.

ARitizetm For eCommerce: The company launched its technologically advanced webAR for eCommerce early in 2019 and has been rapidly signing up customers onto its SaaS platform. Customers include Walther Arms, Wright Brothers, Mr. Steak, and Budweiser. NexTech has the first ??full funnel' end-to-end eCommerce solution for the AR industry including its 3D product capture, 3D ads for Facebook and Google, ?Try it On' technology for online apparel, 3D and 360-degree product views, and ?one click buy'.

ARitizetm 3D/AR Advertising Platform: launched in Q1 2020 the ad platform will be the industry's first end-to-end solution whereby the company will leverage its 3D asset creation into 3D, 360, AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.

InfernoAR:  the world's most advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world's most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages put InfernoAR in a class by itself.

ARitizetm Hollywood Studios: expected to launch in 2020, the studio has created a proprietary entertainment venue for which it is producing immersive content using 360 video, and augmented reality as the primary display platform.

To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.nextechar.com.

On behalf of the Board of NexTech AR Solutions Corp.
"Evan Gappelberg"
CEO and Director

For further information, please contact:

Evan Gappelberg
Chief Executive Officer
[email protected]  

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", "looking forward" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of NexTech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. NexTech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.


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