Vancouver, Canada – May 3, 2016 – NexOptic Technology Corp. (“NexOptic”) (TSX VENTURE: NXO) and Spectrum Optix Inc. of Calgary, Canada (“Spectrum” and together with NexOptic, the “Companies”) are pleased to report that SinoSpec USA and SinoSpec Asia (collectively, “SinoSpec”), have been engaged to provide both external and internal user enhancement design features for Spectrum’s forthcoming imaging (telescope) proof of concept Prototype (the “Prototype”). Additionally, SinoSpec has been engaged to assist in securing potential global license agreements for Spectrum’s patent pending Blade Optics™ technology.
Consumer Interactive Design
SinoSpec is applying its expertise on the Prototype’s outer casing to enhance the design of the device from a consumer interactivity perspective. Additionally, SinoSpec will be assisting with the implementation of other experience enhancement features.
As part of its engagement, SinoSpec will assist the Companies in identifying and securing potential global license agreements for Spectrum’s Blade Optics™ technology. The Company’s existing strategy is to focus all initial licensing efforts on the consumer telescope, scope and binocular markets, which are most closely associated with the Prototype. The Companies believe that there are many other potential verticals for the technology, but these initial markets are most aligned with the Prototype and development of the technology to date. Additional potential verticals continue to be analyzed and explored by the Companies. The Companies expect that the Prototype will demonstrate to leading firms in the imaging industry clear cases for the applicability and marketability of Spectrum’s patent-pending Blade Optics™ lens technology.
SinoSpec is a multifaceted international corporation which, in addition to overseeing large scale manufacturing, provides its expertise on sophisticated imaging project designs, including product enhancements with the end user in mind. SinoSpec’s Founder and CEO, Joe Ganahl, is Founder and former President of Intova Camera. He has been responsible for the design of multiple highly sophisticated camera systems and has many years of experience overseeing optical manufacturing and developing international sales and distribution channels. Mr. Ganahl’s experience also includes designing highly sophisticated binocular and lighting systems. Further information regarding SinoSpec can be found at www.sinospec.us and www.intova.net
Paul McKenzie, CEO of NexOptic and Director of Spectrum Optix stated today,
“SinoSpec is a tremendous, multi-faceted addition to our growing team. They are experienced with taking ideas from concept to assembly line to securing favorable international sales agreements. We believe that their experience and potential contribution to the consumer design of the Prototype will allow us to present a device that clearly displays the market potential for our technology.
SinoSpec’s founder, Joe Ganahl’s, designs are renowned for being aesthetically beautiful, highly functional and for providing their users with a tremendous, easy to navigate product experience.”
Joe Ganahl, Founder and President of SinoSpec USA and SinoSpec Asia, stated:
“I believe Blade Optics™ holds potential to dramatically shift the optics paradigm in a way similar to how digitization revolutionized imaging. I’m very excited to be involved with this technology.”
Please see the Companies joint February 29, 2016 news release for further details on the POC Prototype development and Blade Optics™.
About Spectrum Optix Inc.
Spectrum is developing technologies relating to imagery and light concentration applications. Utilizing its patent pending Blade Optics™ technology, which contains flat lenses, the company aims to disrupt conventional lens and image capture based systems.
About NexOptic Technology Corp.
NexOptic has an option to acquire, in the aggregate, 100% of Spectrum Optix. The companies are, in essence, working as a single corporation at this time, with their respective CEOs sitting on each other’s boards of directors. Please see NexOptic’s news release dated November 18, 2014 for additional details regarding this relationship.
On behalf of the Boards of Directors
NexOptic Technology Corp.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
+1 (604) 669 – 7330
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, the development of the Prototype and the potential applications of Spectrum’s technologies. 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 Companies operate and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others, that: the ability of the Companies to complete the prototype as currently expected; the risk that the prototype may not achieve results expected by the Companies; they may not have access to financing on acceptable terms or at all in order to exercise the options under NexOptic’s formal agreement with Spectrum and its shareholders; it may not receive all necessary regulatory and shareholder approvals; or the conditions to NexOptic’s options to acquire Spectrum shares may not be otherwise satisfied; and other risks inherent with the patent process, transactions of this type and development of new technologies or the business of Spectrum and/or NexOptic. Such forward looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, NexOptic 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.