Vancouver, Canada – April 9, 2019 – NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) is pleased to announce that DoubleTake™, NexOptic’s “Binoculars Reimagined,” was presented the Gold Award for Advanced Image Capture in the Consumer Goods category at the prestigious 2019 Edison Awards™.
Since 1987, the Edison Awards have recognized and honored some of the most innovative new products, services, and business leaders in the world. The award, which grants NexOptic the right to attach an Edison Award Gold Seal to its product, was presented in a gala ceremony in New York on April 4.
NexOptic’s reimagined binoculars are a disruptive new consumer product that encapsulates key imaging characteristics of a smartphone, binoculars, and DSLR camera into a compact, rugged, consumer product. DoubleTake is designed to transform and enhance the traditional solo-user binocular experience into a powerful sharing experience.
The award was the latest in a series of high-profile recognitions for NexOptic’s technology. GearJunkie also recently awarded 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. Over the past year, NexOptic has grown its suite of optical innovations to include artificial intelligence (AI), which is generating enthusiastic attention from the mobile device industry for its outstanding performance in low-light conditions and in reducing motion blur.
DoubleTake is NexOptic’s ground-breaking reimagining of binoculars. Powered by a Blade Optics™ lens system, DoubleTake features an equivalent focal length of greater than 500mm, so users can capture spectacular images and lifelike 4K video. DoubleTake features a quad-core processor, enabling state-of-the-art digital features such as image stabilization and real-time, high resolution panning, all viewable through a 5-inch high-definition touch screen LCD display.
About the Edison Best New Product Awards
The Edison Best New Product Awards™ is an annual competition honoring excellence in new product and service development, marketing, human-centered design, and innovation. The competition is open to as many as 7,000 innovative organizations across the globe during each nominating season. The 2019 Edison Award Finalists were selected globally from today’s smartest innovations and brightest advancements across 15 distinct categories. Award winners represent “game changing” products and services, as well as excellence and leadership in innovation around four criteria: Concept, Value, Delivery, and Impact. Previous winners of the Edison Award include some of the world’s leading Fortune 500 companies, such as Apple, Microsoft, and FitBit.
About NexOptic Technology Corp.
NexOptic is an innovative optical development company, which aims to enhance the way we view the world around us. The Company is readying to globally launch its reimagined binoculars, the multi-award winning DoubleTake, its first consumer product engineered to disrupt the growing outdoor recreation market. DoubleTake utilizes NexOptic’s high magnification lenses for a state-of-the-art digital experience. NexOptic is also working on commercializing its ground breaking-artificial intelligence (“AI”) for imaging as well as exploring opportunities for the Company’s innovative mobile lens designs. Utilizing Blade Optics, the Company’s developing suite of optical technologies which now includes AI, NexOptic can increase aperture sizes within given depth constraints of various imaging applications for improvements to diffraction-limit and increased resolution. NexOptic’s AI drastically reduces image noise and motion blur common in poor lighting imaging environments utilizing algorithms. In addition to enhancing image quality, NexOptic’s AI can be used to improve long-range image stabilization and image capture in otherwise difficult lighting conditions.
Blade Optics refers to NexOptic’s lens designs, algorithms, and mechanics, which vary from patented to patent-pending, and includes all the Company’s intellectual property and know-how. 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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