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    NXO   CA65341P1053

NEXOPTIC TECHNOLOGY CORP.

(NXO)
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NexOptic Technology : Rich Geruson, NexOptic Chairman, Announces Global Sales Distribution Agreement with NTek Device for NexOptic AI

10/13/2021 | 10:35am EST

VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) -- 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 it has entered a commercial partnership with NTek Device (“NTek”) of South Korea.

NTek Device is an indispensable partner to a vast array of clients in mobile cameras, surveillance cameras, and automotive cameras. Today’s announcement has NexOptic joining the likes of some of the most respected and influential imaging solution companies as chosen by NTek for their overwhelming quality and reliability in the image enhancement sector for CMOS image sensor (“CIS”) based solutions.

“A key to our success is discovering the next big solutions in imaging early, and so we’re very excited to be able to now bring artificial intelligence solutions as impactful as Aliis to large segments of the imaging industry,” said Hyun-Chul Kim, CEO of NTek Device. “Aliis is a major breakthrough that will deliver enormous value to us by allowing us to immediately provide effective artificial intelligence integration directly to our clients.”

NTek is partnered with virtually all Korean camera image development firms and module manufacturers. It is a leading semiconductor supplier to the mobile, video security, and automotive industries as well as a provider of embedded solutions for internet and data communication equipment throughout the Asia Pacific region and beyond. NTek has significant product distribution centres in Korea and Hong Kong and partnership distribution networks in Shenzhen, China and Taipei, Taiwan. Its voluminous list of customers includes Partron and Powerlogics, as well as Korean leaders in video security with global reach. It delivers CIS hardware and software to its vast customer network which includes Hanhwa Techwin, IDIS, CPRO, and Truen in addition to key automobile imaging companies like Thinkware, Finedigital, and NC&.

CIS, “the eyes of a camera,” is a keystone product in the imaging tech industry and is key to NTek and NexOptic’s plans for positioning themselves into expanding roles in the 5G ecosystem. NTek customer firms in the CIS sector include Sony, Samsung, Omnivision, Onsemi, Hynix, Galaxycore, Lexar, Harvetek and others. NTek provides customized solutions to client firms by cross-checking available CIS products; this is part of what makes NTek so successful and why they’ve been able to sustain their robust 20% growth rate year over year.

“It is exciting to be able to introduce a company with the influence and reach of NTek as our first ‘ALIIS™ Certified Distributor,’” said Richard Geruson, Chairman of NexOptic. “NTek’s impeccable reputation for selecting best in breed partnerships, and its strong relationships with some of Asia’s largest and most respected corporations in imaging, speaks volumes as to what Aliis can deliver to NTek’s global customer base.”

For more information, visit www.ntek-device.com

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. 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

What You Need to Know About NTek Device

NTek Device is a global supplier and distributor of CMOS Image Sensor (CIS) technologies to the mobile, automotive and security imaging industries, as well as a provider of embedded internet and data communications equipment. NTek is headquartered in South Korea, with operations in Hong Kong, Taipei and Shenzhen, and has partnered with some of the most respected names in imaging. For more information, visit www.ntek-device.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.


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Source: NexOptic Technology Corp

2021 GlobeNewswire, Inc., source Press Releases

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Financials
Sales 2020 - - -
Net income 2020 -5,81 M -4,53 M -4,53 M
Net cash 2020 2,29 M 1,79 M 1,79 M
P/E ratio 2020 -11,2x
Yield 2020 -
Capitalization 81,1 M 63,3 M 63,2 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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