For the audio version of today’s news release please visit https://nexoptic.com/news/
VANCOUVER, British Columbia, Jan. 31, 2019 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. ("NexOptic" or
the "Company") (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) reports today that it is pursuing significant
opportunities to accelerate its growth, some of which were generated at the 2019 Consumer Electronic Show (CES) in Las Vegas
earlier this month.
At CES, NexOptic held prearranged meetings with some of the world’s largest technology companies, where
conversations are ongoing, and the Company received strong expressions of interest to distribute and market
DoubleTake™ globally.
The awards, expressions of interest, and accolades from multiple media outlets, retailers, distributors, and
technology companies were in part due to NexOptic showcasing the significant power of its DoubleTake lenses as well as the
revolutionary capabilities of its artificial intelligence and smartphone lenses for photography at a private NexOptic viewing suite
throughout the multi-day CES event.
NexOptic’s unique DoubleTake lens is a near diffraction-limited 95mm F1.8 (35mm equivalent of 530mm) lens
consisting of plastic, glass, and mirrored elements in a novel telescope-like configuration. The Blade
Optics™ module allows the longer focal length lens to be compressed into a much smaller volume, so a
lightweight device can take exceptional long-range images.
DoubleTake will be featured at the Outdoor Retailer Snow Show in Denver, Colorado January 30-February 1.
If you’d like to schedule a meeting to preview DoubleTake at the Outdoor Retailer Show, please contact Matt Fitzgerald at Elevator
North, 781-740-4050 or at mfitzgerald@elevator-north.com. NexOptic will be exhibiting at booth 51060-UL.
The company is on track to sell DoubleTake to consumers in late 2019.
What separates DoubleTake from any other binocular product is its Blade Optics technology. NexOptic's patented
and patent-pending suite of optical technologies has put the power of a telescope in a rugged handheld device. By utilizing dual
lenses, one wide-field and one narrow-field, DoubleTake makes finding, focusing, and zooming in on objects far quicker, easier, and
more enjoyable than when using conventional products. It digitally supports 4K video, 12 MP photos, and audio with an SD card slot
option. Users can also wirelessly share their media and/or display screen with smartphones.
DoubleTake recently made its debut at the SHOT Show in Las Vegas as well as the Seattle Boat Show.
NexOptic also reports that effective today, founding Director, G. Arnold Armstrong has retired at the age of 93
from its Board of Directors.
“The technology NexOptic is developing is very exciting, and I have full faith the team will accomplish its
goals,” said Mr. Armstrong. “I’m proud to have been part of this remarkable venture at its earliest stages, and I’m looking forward
to what comes next as the Company continues with its advancements.”
“On behalf of NexOptic’s Board of Directors, I wish to extend my sincere gratitude to Arnold,” said Paul
McKenzie, NexOptic’s President and Chief Business Officer. “From the very beginning, Arnold saw the value and the potential of what
NexOptic’s technologies could become. It’s been my great pleasure to have had the good fortune to work closely with Arnold.”
NexOptic also reports that it has granted an aggregate of 2,650,000 stock options to some of its Directors,
Officers and Consultants having an exercise price of $0.65 and a term of five years.
About NexOptic Technology Corp.
NexOptic is an innovative 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 market, NexOptic is aggressively pursuing a multi-pronged optical innovation
strategy. Utilizing Blade Optics™, the Company’s developing suite of optical technologies, NexOptic can increase aperture sizes
within given depth constraints of various imaging applications. Increasing the aperture size enables a lens system to have an
improved near diffraction-limit, providing the potential for greatly increased resolution. In 2018 we grew our suite of innovations
to include artificial intelligence (AI), developing ground-breaking AI for our optics.
Blade Optics refers to NexOptic’s lens designs, algorithms, and mechanics, which vary from patented to
patent-pending, and includes all of the Company’s intellectual property and know-how.
NexOptic trades on the TSX Venture as “NXO”, on the OTCQX under the symbol “NXOPF,” and on Frankfurt as “E3O1”.
More information is available at www.nexoptic.com.
Investor Enquiries
Rhys Hanak
Tel: +1 (604) 669-7330 x 202
look@nexoptic.com
TSX-V: NXO
OTCQX: NXOPF
Frankfurt: 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 sports-optic device and technology, and expected results, specifications, capabilities and applications thereof. 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, product
designs and prototype are at an early stage and additional work will be required to confirm potential applications and feasibility
of its technologies or bring product designs to market; the Company may not be able complete product development 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 be able to source components for its products on a cost-effective basis; the Company may not
have access to necessary financing on acceptable terms or at all; pending or future patent applications may not be approved as
contemplated or at all; and other risks inherent with technology and product development and the business of the Company. Such
forward-looking statements should therefore be construed considering 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 because 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.