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    NXO   CA65341P1053

NEXOPTIC TECHNOLOGY CORP.

(NXO)
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Pristine Surgical and NexOptic Announce Commercial Agreement To Use AI for Single-Use Surgical Endoscopy Explains NexOptic Chairman Rich Geruson

04/07/2021 | 09:15am EDT

MANCHESTER, N.H. and VANCOUVER, British Columbia, April 07, 2021 (GLOBE NEWSWIRE) -- Pristine Surgical LLC and NexOptic Technology Corp. (“NexOptic”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1) announced that they have entered into an exclusive partnership to deploy NexOptic’s artificial intelligence (AI) powered imaging technology in Pristine’s single-use endoscopic visualization platform.

NexOptic’s proprietary neural networks, which power their All Light Intelligent Imaging Solutions (ALIIS™), are machine-learning-enabled and allow for more compact, lower-cost, lighter-weight optics with extreme low-light, anti-glare and data compression performance. Combined with faster shutter speeds and reduced motion blur on a variety of platforms, the result is always-sharper images with a myriad of downstream processing advantages.

Pristine Surgical’s single-use endoscopes use high-performance digital image sensors, advanced high-brightness LEDs and powerful graphics-processing hardware and software to deliver high-definition, high-quality images in a single-use surgical endoscope at reduced cost.

The companies will work together to incorporate NexOptic’s Aliis technology into Pristine’s single-use endoscopic visualization platform for image optimization.

“At Pristine, we are able to increase patient safety, improve economics and efficiency and advance the state of the art in endoscopy by incorporating powerful, cutting-edge technologies in a single-use visualization platform,” said Bryan Lord, CEO of Pristine Surgical. “We’re excited to work with NexOptic to use their ALIIS platform to advance our deployment of artificial intelligence capabilities and help us further that mission.”

“Pristine has built the endoscopy platform of the future. By combining our AI expertise with their unique single-use scope design, there’s an immediate opportunity to further advance the surgical visualization platform of tomorrow,” added Paul McKenzie, CEO of NexOptic Technologies. “Today’s announcement is a milestone for NexOptic’s artificial intelligence imaging solutions. I look forward to the future and fully anticipate signing additional clients this year.”

“This is a revolutionary solution that could help millions of patients annually and ensure surgeons can do their jobs in a safer manner, and more effectively,” said Rich Geruson, NexOptic Chairman.

About Pristine Surgical

Pristine Surgical LLC is a single-use surgical visualization company dedicated to improving patient care, safety and efficacy for the more than 25 million endoscopic (arthroscopy and laparoscopy) procedures performed worldwide each year. Pristine’s platform combines high-performance digital image sensors, advanced high-brightness LEDs and powerful graphics processing hardware and software with Pristine Connect, a cloud-based SaaS platform which makes the full surgical episode more efficient for patient, surgeon and surgery center. Pristine’s single-use design eliminates the risks posed by cross-contamination, reduces sterilization and maintenance costs and provides consistently clear images, every time. Headquartered in Manchester, N.H., Pristine Surgical is led by an experienced management team, a seven-person board of managers and a 10-person medical advisory board. For more information on how we See Beyond™, visit pristinesurgical.com.

What You Need to Know About ALIIS and NexOptic Technology Corp.

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering a world-leading AI platform for imaging known as ALIIS™ (All Light Intelligent Imaging Solutions). NexOptic simultaneously influences the optics 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.

Pristine Surgical Contacts
Dave Carey
General Manager, Marketing
Pristine Surgical LLC
dcarey@pristinesurgical.com
585.770.0778

Brad Perriello
Founder, Circle Hill Life Science Communications
brad@circlehillcommunications.com
617.817.1385

NexOptic Media and Investor Inquiries
Look@nexoptic.com
604.669.7330 x 202 

NexOptic Sales
Advantage@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 the Company’s 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.


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ę GlobeNewswire 2021
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Financials
Sales 2020 - - -
Net income 2020 -5,81 M -4,59 M -4,59 M
Net cash 2020 2,29 M 1,81 M 1,81 M
P/E ratio 2020 -11,2x
Yield 2020 -
Capitalization 112 M 88,3 M 88,4 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 89,4%
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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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