VANCOUVER, BC--(Marketwired - January 10, 2017) -
For the audio version of today's news release please visit http://nexoptic.com/investors/news/
NexOptic Technology Corp. ("NexOptic") (OTCQB: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN:
E301) and Spectrum Optix Inc. of Calgary, Canada ("Spectrum,") and together with NexOptic, the
"Companies") are pleased to announce that Mr. Stephen Petranek has joined the Board of Directors of NexOptic Technology
Corp.
A widely-recognized technology futurist and award-winning author, Mr. Stephen Petranek is the former editor-in-chief of
several respected scientific and financial publications. He is also Co-Executive Producer of the National Geographic mini-series
"MARS", which is based on, and inspired by, his book, "How We'll Live on Mars," published by Simon and Shuster and the TED
Conferences. Petranek's critically acclaimed book was partly a result of extensive conversations and interviews with Elon Musk,
CEO of Space-X, and senior management and leading scientists at NASA.
Petranek is the former editor-in-chief of the world's largest scientific magazine, Discover, and was the senior editor for
sciences at Life Magazine. Earlier in his career Petranek was the editor of The Washington Post's magazine and editor-in-chief of
The Miami Herald's Sunday magazine. Mr. Petranek is also a recipient of the prestigious John Hancock Award for Business and
Financial Writing, considered by many to be the Pulitzer of financial writing.
Paul McKenzie, President, and CEO of NexOptic, commented:
"Stephen's tremendous knowledge and his many connections within the scientific community, including to leading technology
corporations, combined with his experience with publicly traded companies and ties to financial networks, make him an excellent
addition to our team. We are proud to have him join us and very much look forward to working closely with Stephen as we work to
advance our Company and our technologies."
Upon his appointment to NexOptic's Board of Directors, Petranek stated:
"I am honored and excited to be joining such an innovative company at the cutting edge of a technological revolution. The
team at NexOptic is energetic, dedicated and determined to succeed and I believe that the Blade Optics technology has the
potential to completely alter our current concept of how we think of lenses and what they can do. I look forward to being part of
a potential disruptive shift in how we observe the world around us."
Stock Option Grant
NexOptic also reports that it has granted an aggregate of 550,000 stock options to employees and consultants having an
exercise price of $0.95 and a term of five years.
Further, and at the request of IIROC, NexOptic confirms that, other than as set forth herein, it is not aware of any material
change in its operations or affairs that would account for recent increase in the market activity of its common shares. However,
as previously disclosed, the Company and Spectrum Optix Inc. ("Spectrum") continue to steadily advance their business strategy,
including completing their proof of concept ("POC") imaging prototype, which is in its final stages.
About NexOptic Technology Corp.
NexOptic is a publicly traded company, which has an option to acquire, in the aggregate, 100% of Spectrum Optix Inc., a
private corporation. The Companies are, in essence, working as a single corporation at this time, with their respective CEOs
sitting on each other's boards of directors. Please see NexOptic's news release dated November 18, 2014 for additional details
regarding this relationship.
Spectrum is developing technologies relating to imagery and light concentration applications. Utilizing its patent-pending
Blade Optics™ technology, which contains flat lenses, the company aims to disrupt conventional lens and image capture-based
systems.
Benefits of Blade Optics™ Technology
The Companies' believe that Blade Optics™ has the potential to breakdown many of the limitations associated with conventional,
curved lens stacks, including:
- Aperture size: Allowing the aperture-to-depth ratio to be increased in depth-limited optical devices to permit increased
resolution compared to conventional curved optical devices with similar depth.
- Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging
devices.
Spectrum is currently developing a proof-of-concept telescope prototype that will utilize its Blade Optics™ technology, other
optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Spectrum's Blade
Optics™ technology and its potential to serve as a platform to be used in various optical applications. Please see the Companies'
joint press release dated May 25, 2016 for the latest progress report on this first of its kind prototype.
NexOptic trades on the OTCQB under the symbol "NXOPF," on the TSX Venture as "NXO," on Frankfurt as "E301" and Berlin as
"E301." More information is available at www.nexoptic.com.
On behalf of the Boards of Directors
NexOptic Technology Corp.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
www.NexOptic.com
Look@NexOptic.com
+1 (604) 669 - 7330
OTCQB: NXOPF
TSX VENTURE: NXO
Frankfurt: E301
Berlin: E301
Forward Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable
securities laws, including, but not limited to, statements with respect to expectations concerning the development of its
technology, the development of the prototype, the potential applications of Spectrum's technologies and the technology's
potential market impacts. The reader is cautioned that forward looking statements are not guarantees of future performance and
involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause
actual results or events to differ materially from those anticipated in such forward looking statements. Forward looking
statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the
industry and markets in which the Companies operate and are qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations, including, among others: risks commonly associated with the development of new technologies,
including that the prototype development is at an early stage and additional work will be required to confirm potential
applications and feasibility of Spectrum's technologies; the Companies may not be able complete the prototype as currently
expected; the potential applications and market assessment set forth in the Study are based on limited studies and may not be
representative of the broader market; the risk that the prototype may not achieve results expected by the Companies; NexOptic may
not have access to necessary financing on acceptable terms or at all, including, in order to exercise the options under
NexOptic's formal agreement with Spectrum and its shareholders or the conditions to NexOptic's options to acquire Spectrum shares
may not be otherwise satisfied; and other risks inherent with the patent process, transactions of this type and the business of
Spectrum and/or NexOptic. Such forward looking statements should therefore be construed in light of such factors. Other than in
accordance with its legal or regulatory obligations, NexOptic is not under any obligation and it expressly disclaims any
intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events
or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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