Vancouver, Canada – February 6, 2019 – NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) reports that GearJunkie has awarded NexOptic’s DoubleTake™ its “Best in Show” Winter Gear 2019 award at the Outdoor Retailer Snow Show, North America’s largest outdoor trade show in Denver, Colorado.
With its second major award this year, DoubleTake increasingly shows the potential to completely disrupt the global binocular industry when it goes on sale later this year. In January, Digital Trends, named DoubleTake the “Top Tech of CES 2019” for photography.
“We are immensely proud to be recognized by GearJunkie in this manner” said Kerri McTaggart, NexOptic’s Product Marketing Manager. “They have previously honored some of the outdoor industry’s most recognizable brands and products with their Best in Show award, so this means a lot to us.”
GearJunkie is an outdoor lifestyle news platform that focuses on the evolution and innovation of outdoor equipment. Millions of monthly readers worldwide subscribe and depend on the platform to read product reviews that inspire and educate consumers on their next gear purchase.
What separates DoubleTake from any other binocular product is NexOptic’s Blade Optics™ technology. NexOptic’s patented and patent-pending suite of optical technologies puts the power of a telescope in a rugged handheld device. By utilizing dual lenses, one wide-field and one narrow-field, DoubleTake makes finding, focusing, and zooming in on objects far quicker, easier, and more enjoyable than when using conventional products. DoubleTake’s 5-inch LCD touchscreen display turns what used to be a solo viewing experience into an interactive and memorable group viewing experience. DoubleTake digitally supports 4K video, 12 MP photos, and audio with an SD card slot option. Users can also wirelessly share their media and/or display screen with smartphones.
NexOptic Proposes Warrant Extension
NexOptic proposes to extend the expiry date of outstanding share purchase warrants that were issued pursuant to a private placement completed on August 23, 2017. Each warrant entitles the holder to purchase one common share in the capital of the Company at a price of $1.50 per share for a period of 18 months from the date of issuance expiring on February 23, 2019. Subject to TSX Venture Exchange approval, the expiration of these warrants will be extended to February 23, 2020. All other terms of the warrants will remain the same.
About NexOptic Technology Corp.
NexOptic is an innovative optical development company, which aims to enhance the way we view the world around us. Currently focused on engineering its first consumer product for the growing outdoor recreation market, as well as a demonstration prototype for the mobile device market, NexOptic is aggressively pursuing a multi-pronged optical innovation strategy. 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 the potential for greatly increased resolution. In 2018, NexOptic’s suite of innovations grew to include ground-breaking artificial intelligence (AI) for its optics.
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.
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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.
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