Vancouver, Canada – May 28, 2019 NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQX: NXOPF) (FRANKFURT: E3O1) announced today that it expects to have DoubleTake™, its multi-award-winning reimagined binoculars, available for consumers in limited release before the end of 2019.
The tooling process is already underway, and the production plan remains on track to deliver DoubleTake in the fourth quarter. Rich Geruson, NexOptic’s Chairman, recently completed site visits with key manufacturing partners and component suppliers.
“I’ve had the opportunity to meet our suppliers and see the development progress firsthand,” Mr. Geruson said. “It’s extraordinarily rewarding to witness the culmination of so much imagination, innovation and hard work, and to help get it over the goal line.”
An exciting new DoubleTake feature is the inclusion of an onboard GPS system. Utilizing latest generation GPS technology, this enhancement won’t add any size or weight. GPS data can be saved as an imprint on images and real-time on the viewing screen. GPS data is user-selectable in either mode.
“The key components we’ve selected for DoubleTake are the result of consistent consumer feedback,” said Paul McKenzie, NexOptic’s CEO. “Incorporating these features will better ensure strong consumer demand when we launch later this year.”
The DoubleTake app is also seeing significant enhancements. Key features include:
- Live stream images visible anywhere in the world
- Full remote control and viewfinder from phone
- Route and image location mapping with GPS waypoints
- Date, time, weather, moon phase, wind condition records
- Image notes
- One-touch sharing to social media
- Cloud storage
- Filter and retrieve images via any major datapoint
DoubleTake’s rugged design and unique app functionality are engineered to bring disruptive new capabilities to the sports optics industry. ReportLinker expects the category, which includes cameras, binoculars, and sport scopes, to experience significant growth from 2019 to 2024.
“One of our core objectives is to become a major fixture in the growing sports optics and sports camera markets,” said Mr. Geruson. “The interest in DoubleTake continues to grow even before consumers have had a chance to experience it for themselves. I’m excited to get DoubleTake to them in the nearest timeline possible.”
DoubleTake has the focal length of a telescope encased within a small, elegant, yet remarkably robust package. “From the endzone of a football field, DoubleTake will easily detect a toothpick at the 50-yardline,” said Kerri McTaggart, NexOptic’s Marketing Manager. “Even when applying 40X digital zoom or greater, the resolution will be unprecedented for a device of this size.”
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 preparing to 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 to commercialize 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 that 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 environments. 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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TSX-V: NXO OTCQX: NXOPF Frankfurt: E3O1
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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