Two companies, NexOptic Technology Corp. of Vancouver, British Columbia and Spectrum Optix Inc. of Calgary, Alberta entered into an option agreement and are now well on the path to merge into a single corporation.
Together we share a common goal of pursuing the creation of the most innovative lens systems in the world.
For further details on the arrangement click here.
Leading Prototype Developer
Ruda Cardinal Inc. of Tucson, Arizona has been chosen to develop the lens stack for the prototype. Ruda Cardinal is an internationally recognized industry leader in optical prototype construction and design and provides its expertise and services to fortune 500 companies, universities, government programs and start-ups.
NexOptic has been selected for inclusion in the 2017 TSX Venture 50®, a ranking of the top performers on the TSX Venture Exchange. NexOptic is ranked second overall in the technology sector. The TSX Venture 50™ are the top 10 companies listed on the TSX Venture Exchange, in each of five major industry sectors – mining, oil & gas, clean technology & life sciences, diversified industries and technology – based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2016.
Government of Canada Contribution
Our technology drew the attention of the Canadian Government’s premier innovation assistance program for small and medium-sized enterprises. Additional details on our Government grant can be viewed in our news release dated April 12, 2016.
Pursuant to their Agreement, NexOptic was granted an option to acquire up to 100% of Spectrumʹs outstanding common shares for total consideration of $3,000,000 from NexOptic to be advanced to fund research and development and intellectual property protection of Spectrumʹs technologies, including expenditures relating to patenting process work, the costs of any necessary engineering adjustments, administrative and office expenses and management fees of Spectrum in exchange for the issuance of Spectrum Shares representing 100% of Spectrum Shares which will include all of Spectrum’s assets, intellectual property etc. Spectrum shareholders will in turn receive common shares of NexOptic as are equal to 35% of the then‐outstanding NexOptic shares and warrants equal to 35% of, and on substantially similar terms, to the then‐outstanding warrants or options to purchase NexOptic shares.
Over 2/3 of the required expenditures have been paid by NexOptic to Spectrum as of April, 2017. Shares of NexOptic will not be issued to Spectrum shareholders until such time as the final payment to Spectrum has been made by NexOptic at which time those shares will be placed in escrow.
The Companies’ joint news release dated November 18, 2014 provides further details on this arrangement as do NexOptic’s Management Discussion & Analysis documents and Financial Statements published after the end of each calendar quarter. All these documents and other relevant documents including Filing Statements specific to this arrangement are available on either NexOptic’s website www.nexoptic.com and/or www.sedar.com
Charmain of NexOptic
Mr. Armstrong and his family own Armada Investments Ltd., the principal family management company through which he has built a diversified portfolio of assets and businesses including international real estate development, casinos, automobile dealerships, trucking and numerous others. He has held the positions of Chairman, President, CEO and/or Director of several successful mining and exploration companies, including being one of the founding Directors of Silvercorp Metals Inc. (NYSE:SVM). Under his command, his group of public companies has made several significant coal, nickel, copper, gold and silver discoveries in the U.S., Canada, China and Mongolia. Mr. Armstrong has also fostered several joint ventures within his companies including those with Cameco Corp., AREVA and Phelps Dodge.
CEO of NexOptic
Mr. McKenzie is also a founding Director of a publicly traded company building sophisticated multilingual applications designed to service a broad spectrum of the $80 billion promotions market in terms of client profile and needs fulfillment. He has been instrumental in creating and managing a number of successful publically traded companies, several of which have made significant resource discoveries worldwide. He has acted in the capacity as Director, President and/or CEO and CFO of several public companies and has been hands on in raising in excess of US$70,000,000 for his publicly-traded companies. Mr. McKenzie’s experiences with public companies spans more than 20 years and includes acquiring, selling, financing and developing projects in North America, and Asia and includes overseeing transactions with companies whose market capitalizations have exceeded US$8 billion.
CEO of Spectrum Optix, Director of NexOptix
Having managed several firms over his 25 year career, Mr. Daugela has been successful in many diverse leadership roles including President, Founder, Project Manager and Technology Development Lead. His prior experience includes co-managing the private engineering firm International Business and Engineering Corporation (”IBEC”), which was nominated for the Canadian export Achievement Award and was eventually acquired. While at IBEC, Mr. Daugela was a key innovator in several core elements of intellectual property and helped bring dozens of industrial products to market, such as electronics, cookers, steamers, driers, sensors, and alarm systems. Mr. Daugela was also integral in international manufacturing and sales for IBEC. Additionally, through his passion for innovation, Mr. Daugela founded a firm that brought new camera technologies to the iconic Canadian Snowbirds jet formation team. Mr. Daugela is a graduate of the University of Alberta. In addition to his Bachelor of Commerce degree (Dean’s List Standing) he also holds a designation as a Project Management Professional (PMP).
Director of NexOptic
Mr. Petranek is a widely-recognized technology futurist and award-winning author, and is the former editor-in-chief of several respected scientific and financial publications. He is also the Co-Executive Producer of the National Geographic mini-series “MARS”, which is based on, and inspired by, his book, “How We’ll Live on Mars,” published by Simon and Shuster and the TED Conferences. Petranek’s critically acclaimed book was partly a result of extensive conversations and interviews with Elon Musk, CEO of Space-X, and senior management and leading scientists at NASA.
Petranek is the former editor-in-chief of the world’s largest scientific magazine, Discover, and was the senior editor for sciences at Life Magazine. Earlier in his career Petranek was the editor of The Washington Post’s magazine and editor-in-chief of The Miami Herald’s Sunday magazine. Mr. Petranek is also a recipient of the prestigious John Hancock Award for Business and Financial Writing, considered by many to be the Pulitzer of financial writing.
CFO of NexOptic
Ms. Shorter gained extensive experience in providing reporting and accounting assurance services to publicly traded companies including technology companies when she acted in the capacity of Audit Manager with a major Canadian accounting firm. Subsequently Ms. Shorter has gained significant knowledge and experience in providing financial reporting, administration and internal controls development and budgeting for the proper management of public companies. She has guided companies in internal control compliance and review, in accordance with National Instrument 52-109 and Sarbanes-Oxley 404 standards. Ms. Shorter is a Chartered Accountant, Certified Internal Auditor and holds a Bachelor of Commerce degree with Honors from the University of British Columbia, Canada.
Mr. Tucker is a serial entrepreneur in every sense of the word and has an extensive background in technology start-ups, including development, marketing, recruiting, capital financing and executive management. Mr. Tucker went on to form ProStar Geocorp, and in 2016 the Colorado Technology Association named him Entrepreneur of the Year for his efforts and innovations in developing Geospatial Intelligence Software. Mr. Tucker first became known as a technology visionary in the automotive industry for combining data mining and predictive modeling with geographic information systems (GIS). Mr. Tucker was the founder of Impact Solutions, Inc., a San Francisco based company he formed to provide state-of-the-art customer acquisition and retention solutions to the automotive industry. Impact Solutions, Inc. successfully implemented its innovative database marketing services to both automotive franchises and manufactures throughout the United States. Mr. Tucker reorganized Impact and formed e-autobusiness which leveraged Impact products and services and pioneered the development of a web-based CRM solution that provided services to well over 900 dealerships throughout the United States before being acquired.
Long Range Precision Measurement, Spectroscopy & Image Processing Specialist
Mr. Wheeler was previously assigned to INSCOM (Intelligence and Security Command) at the National Geospatial-Intelligence Agency (NGA) in Washington, DC. He was placed on the Army GEOINT Battalion’s teaching team partnered with NGA College. Both travelling, and on campus, he successfully taught several hundred soldiers the subject of Advanced Geospatial Intelligence Analysis, before retiring from the U.S. Army in 2014. Prior to his posting with INSCOM Mr. Wheeler was a former US Army 35G Geospatial Intelligence Analyst. During his tenure with the U.S. Army, he deployed to Bagram Airfield, Afghanistan with Task Force ODIN (Observe, Detect, Identify, Neutralize). He worked as a Full Motion Video and Imagery Analyst for the Aerial Reconnaissance Support Team (ARST). As an analyst and mission manager, Mr. Wheeler’s duties included: analyst for multiple fire missions from UAS platforms, as well as laser designation for other weapons systems on multiple occasions; analyst for multiple route over-watch missions within RC-East that lead to the deactivation of several IEDs; analyst for multiple missions targeting High Value Targets (HVTs) which consisted of creating in-depth FUSION targeting products; and he provided over-watch of assault teams while conducting raids on terrorist members to disrupt IED facilitators within RC-East.
Rob D. Cardinal
As a member of the science team for NEOSSat, a Canadian planetary science microsatellite launched in 2013 for the Canadian Space Agency, Mr. Cardinal currently oversees the development of massively parallel software and high performance computer systems to search for asteroids in the data images returned from the satellite. Additionally, he developed unique automated moving object detection software for the Near Earth Space Surveillance (“NESS”) project with which he has discovered two comets which bear his name and one near-Earth Asteroid. Mr. Cardinal is an expert in photometry, astrometry, image analysis and reconstruction and software development for massively parallel GPU computer systems. He is listed as an author on over 30 publications in astronomical literature. Given his professional background, he is ideally suited to make contributions to the advancement of Spectrum’s imaging and non-imaging applications where an efficient method to concentrate electromagnetic energy is required. Mr. Cardinal previously worked on a wide range of projects including star research at the University of Victoria, atmospheric water vapor content over Mauna Kea, HI, for the James Clerk Maxwell Telescope (“JCMT”), optical sensitivity analysis for Defense Research and Development Canada (“DRDC”), telescope retrofit and refurbishment at the Rothney Astrophysical Observatory (“RAO”) and near Earth space surveillance. Mr. Cardinal holds a B.Sc. in Physics and Astronomy from the University of Victoria, Canada.
Primary IP Counsel and US Corporate Strategy
Raymond R. Tabandeh is a Partner in Lewis Roca Rothgerber Christie’s Intellectual Property practice group. With extensive experience in domestic and international intellectual property law, multiple electrical engineering degrees and an MBA, Raymond specializes in helping clients with cybersecurity and Internet IP law, including privacy and website policies, drafting of various license agreements, due diligence of intellectual property portfolios, freedom-to-operate opinion letters, and trademark prosecution and opposition. Raymond also provides patent counseling, prosecution, and licensing for clients in the following fields: computer-based gaming, business methods counseling and protection of related intellectual property rights, computer software and hardware, data and network security using various encryption/decryption methods and digital signatures, due diligence and evaluation of intellectual property portfolios; freedom-to-operate opinion letters, electronics and telecommunications, evaluation of emerging high technologies.
Prior to becoming a lawyer, Raymond was an engineering software manager and a senior hardware design engineer for Xerox Corporation. At K&R Investment Group, as a principal, he negotiated and structured deals, conducted due diligence and appraisals, and developed business plans, for acquisition of mid-size manufacturing companies. He was also a visiting lecturer in the School of Engineering at the University of California, Los Angeles.
Primary Canadian Legal Counsel Officer and Corporate Secretary of NexOptic
Ms. Hartman is also Corporate Secretary and legal counsel to Natcore Technology, a publicly traded company with established exclusive licenses and/or joint research agreements with Rice University, the National Renewable Energy Laboratory and the University of Virginia, and is in receipt of 18 patents (with 36 more pending) for the significant improvement of solar cell capacity and cost. Ms. Hartman practices in the area of securities, corporate finance, mergers and acquisitions, natural resources and corporate law. She has assisted companies in many types of transactions, including initial public offerings, private placements, exchange listing applications, reverse take-overs, corporate restructurings, mergers, take-over bids, property acquisitions and joint ventures. After practicing law with a major Vancouver law firm, Ms. Hartman became an independent lawyer with Armstrong Simpson of Vancouver, Canada. She has practiced corporate and securities law for Canadian listed companies since 2003. Ms. Hartman is a member of the Canadian Bar Association and the Securities Subsection of the Canadian Bar Association. Ms. Hartman obtained her law degree from the University of British Columbia, Canada in 2001 and holds a Bachelor of Commerce degree from Saint Mary’s University, Halifax, Canada.