VANCOUVER, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) --
For the audio version of today’s news release please visit https://nexoptic.com/news/
NexOptic Technology Corp. ("NexOptic") (OTCQX:NXOPF) (TSX VENTURE:NXO) (FRANKFURT:E3O1)
(BERLIN:E3O1) is pleased to announce that it has completed preliminary testing on its smartphone lens system. This lens system is
one of NexOptic's previously announced new optical systems and is engineered to impact the rapidly growing, smartphone, telephoto
marketplace.
Darcy Daugela, P.Eng and Chairman of NexOptic stated: “We are all very encouraged
by the results our team has achieved on its first mobile lens demonstration. Imaging capabilities from
our desktop testing of the assembled lens system appear to have met our
ambitious design targets.” Mr. Daugela continued: “If we incorporate
industry-standard image processing techniques used in virtually every mobile device, I believe this lens
design can provide unprecedented telephoto capabilities for smartphones and many other consumer imaging
products.”
The testing was completed upon receiving and assembling the Company's custom manufactured lenses from Diverse
Optics of California and consisted of testing the assembled lens system on a desktop. Bar target test results indicate that the
lens provides improved angular resolution when compared to market leading smartphone telephoto lenses, as it was able to resolve
two more bar targets (i.e., 25% better angular resolution) on the chart than one of the current, top-rated smartphone lenses.
Initial bar target test results from NexOptic’s benchtop prototype indicate that on-axis resolvable targets
(measuring resolution) are nearly identical to simulation values. NexOptic notes that its desktop demonstration was built to prove
the engineering and showcase the technology on a preliminary basis and to refine NexOptic’s path to a smartphone-based unit.
Off-the-shelf sensor configurations and rudimentary image processing features were used for NexOptic’s initial testing. NexOptic
will be engaging an industry-leading, independent third party to test optical resolution, and looks forward to reporting the
ongoing progress of its smartphone prototype as the Company continues to work towards completing a functional prototype of this
lens system.
Intellectual Property Update
NexOptic also reports that, as part of its strategy to protect intellectual property, it continues to file
additional patent applications with the United States Patent and Trademark Office (“USPTO”) in addition to filing in strategically
selected, global jurisdictions.
Recent provisional patents filed with the USPTO (including ones specific to and related to the mobile lens stack
design) utilize a variety of lens stack designs, all of which differ geometrically from NexOptic’s first patented lens, with which
the Company designed and built its original proof-of-concept (please see NexOptic’s news release dated June 29, 2017). NexOptic’s
original patent, as issued by the USPTO, is now pending in the following jurisdictions: China, South Korea, Japan, the European
Union (including Great Britain) and Canada.
NexOptic continues to expand its Blade Optics™ suite of optical technologies, which it believes will enable much
broader and more dynamic marketing strategies for the Company.
About NexOptic Technology Corp.
NexOptic is a creative optical development company which aims to enhance the way we view the world around us.
Currently focused on engineering its first consumer product for the growing outdoor recreation market, as well as a demonstration
prototype for the mobile device space, NexOptic is aggressively pursuing a multi-pronged optical innovation strategy. Utilizing
Blade Optics™, the Company’s developing suite of innovative optical technologies, NexOptic aims to increase aperture sizes within
given depth constraints of various imaging applications. Increasing the aperture size enables a lens system to have an improved
diffraction limit, thus providing the potential for increased resolution capabilities.
Blade Optics™ refers to NexOptic's lens designs, algorithms and mechanics which vary from patented, patent-pending and includes
all of the Company's intellectual property and know-how.
NexOptic trades on the OTCQX under the symbol "NXOPF," on the TSX Venture as "NXO," on Frankfurt as "E3O1" and
Berlin as "E3O1." More information is available at www.nexoptic.com.
On behalf of the Boards of Directors
NexOptic Technology Corp.
John Daugela, CEO & Director
www.NexOptic.com
Look@NexOptic.com
+1 (604) 669 – 7330
OTCQX: NXOPF
TSX-V: NXO
Frankfurt: E3O1
Berlin: E3O1
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, new products and designs, the potential applications of the Company's technologies and its potential markets. 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 Company
operates 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 Company's technology is at an
early stage and additional work will be required to confirm potential applications and feasibility of its technologies; the Company
may not be able complete the prototypes and designs as currently expected; potential applications of the Company's technology are
based on limited studies and may not be representative of the broader market; the risk that prototypes and designs may not achieve
expected results; the Company may not be able to commercialize its technology; the Company may not have access to necessary
financing on acceptable terms or at all; and other risks inherent with the patent process, transactions of this type and the
business of the Company. Such forward-looking statements should therefore be construed in light of such factors. Other than in
accordance with its legal or regulatory obligations, the Company 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.