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    NXO   CA65341P1053

NEXOPTIC TECHNOLOGY CORP.

(NXO)
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NexOptic Technology : Director Mel Klohn Retires. Employee and Director Incentive Packages Set.

09/29/2021 | 07:12pm EST

VANCOUVER, British Columbia, September 29, 2021 - NexOptic Technology Corp. ("NexOptic" or the "Company") (TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1), an innovator in cutting-edge patented and patent pending Artificial Intelligence (AI) announced today that Mel Klohn has resigned from the Company's Board of Directors, as part of his personal retirement plan. Mr. Klohn will remain a consultant to the Company.

"Mel has been a great Director as well as a great personal friend." said Paul McKenzie, Co-Founder and CEO of NexOptic. "On behalf of every NexOptic team member, we all thank him for his exceptional contributions, and wish Mel a fulfilling retirement."

Stock Option & RSU Grant

NexOptic also reports that it has granted an aggregate of 1,835,000 stock options to Company employees, consultants, and officers for a term of 5 years and an exercise price of CAD $0.75. It has also granted an aggregate of 1.5 million restricted share units (the "RSUs") to its directors, officers, and employees pursuant to the Company's Incentive plan at a deemed value of CAD $0.74.

NexOptic's stock and RSU based plans are aimed to compensate the many NexOptic team members working towards the Company's long-term objectives and in alignment with our shareholders' best interest.

ALIIS™ in a Nutshell

ALIIS™ (All Light Intelligent Imaging Solutions) is a machine-learning AI suite providing instant enhancement to images and videos in the areas of edge processing, shutter speed, resolution and sharpness, image-noise and motion-blur, and image colour and detail. These patented and patent pending solutions can be integrated with imaging devices such as smartphones, smart security cameras, Internet of Things (IoT) devices, automotive platforms, medical imaging technologies, DSLR cameras and more. Additionally, Aliis does all of this while compressing data and reducing media file size, making it ideal for the storage and transmission of image data.

Qualcomm featured Aliis in its 5G Summit 2021 press kit announcing the new 700-series chipset for mobile devices: the Snapdragon 778G, and a recent webinar hosted by ARM and their Senior AI Ecosystem Manager set a live global audience attendance record. Ongoing marketing support from our partners is anticipated. For more information, visit www.nexoptic.com/aliis.

What You Need to Know About NexOptic

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering world-leading patented and patent pending AI solutions for imaging known as ALIIS™ (All Light Intelligent Imaging Solutions). NexOptic simultaneously influences the imaging and AI industries and is a Preferred Partner in the NVIDIA Partner Network, a member of the Arm® AI Partner Program, and a member of the Qualcomm® Platform Solutions Ecosystem. For more information, visit www.nexoptic.com.

Media and Investor Enquiries

Tel: +1 (604) 669-7330 x 202

Email: look@nexoptic.com

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 artificial intelligence technologies, 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 the Company's AI technologies, sport optics product designs and additional work may be required to confirm potential applications and feasibility of such technologies or for the successful commercialization of its offerings; the Company may not be able to 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 all designs may not achieve expected results; the Company may not be able to reach commercial success; the Company may not be able to source components for some of 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.

Disclaimer

NexOptic Technology Corp. published this content on 29 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 September 2021 23:11:05 UTC.


ę Publicnow 2021
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Financials
Sales 2020 - - -
Net income 2020 -5,81 M -4,55 M -4,55 M
Net cash 2020 2,29 M 1,79 M 1,79 M
P/E ratio 2020 -11,2x
Yield 2020 -
Capitalization 106 M 83,0 M 83,1 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 89,5%
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Managers and Directors
Paul Tavis McKenzie President, Chief Executive Officer & Director
Samantha Shorter Chief Financial Officer
Richard J. Geruson Chairman
Kevin Gordon Vice President-Technologies
Juliette Vanderhorst Head-Administration
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