Vancouver, Canada – October 30, 2018 – NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) is pleased to announce that it has developed and continues to refine cutting-edge artificial intelligence networks (‘AI’) for photography. NexOptic’s engineered AI drastically reduces image noise and motion blur common in poor lighting imaging environments by leveraging deep convolutional neural networks. In addition to enhancing image quality, this technology could be used to improve long-range image stabilization and image capture in extreme lighting conditions. NexOptic believes that this technology will have significant commercial applications in a number of industry verticals, and has the potential to be incorporated into its current sport optics and smartphone lens offerings. Results of NexOptic’s AI will soon be available for viewing on the Company’s website.
Darcy Daugela, P.Eng. and Chairman of NexOptic stated “We have long believed that the future of imaging lies in the harmony between disruptive optics and innovative software.” He continued; “Not only does this technology expand the potential applications of our existing long-range imaging capabilities, but it presents new opportunities throughout the broader imaging industry, as this technology can be applied to virtually any imaging system.”
NexOptic Retains Market Making Services
NexOptic also announced that, subject to the approval of the TSX Venture Exchange, it has retained Venture Liquidity Providers Inc. (VLP) of Toronto to initiate market-making services. Their services will be undertaken through registered broker, W.D. Latimer Co. Ltd., in accordance with TSX-V policies. NexOptic will pay VLP CAD $5,000 per month for a period of six (6) months with month-to-month services thereafter. The agreement may be terminated at any time by either the Company or VLP. NexOptic and VLP act at arm’s length, and VLP will not receive any common shares or options as compensation; however, VLP and its clients may acquire a direct interest in NexOptic’s securities.
About NexOptic Technology Corp.
NexOptic is an innovative optical development company, which aims to enhance the way we view the world around us. NexOptic is aggressively pursuing a multi-pronged optical innovation strategy. The Company is engineering its first consumer product for the growing outdoor recreation market, as well as refining its demonstration lens prototype for smartphones and has created cutting-edge artificial intelligence that significantly reduces image noise and motion blur common in poor lighting imaging environments.
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 diffraction limit, providing greatly increased resolution. 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.
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.