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Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) Announces Closing of $14 Million Bought Deal Public Offering of Units

  • NexTech AR Solutions Corp. closed the $14 million bought-deal short-form prospectus that the company will use for working capital and other purposes
  • The company issued 2,801,500 units of the company for $5.00 per Unit
  • Nextech recently launched the live holoportation feature that can beam the hologram of a person virtually anywhere in the world

Nextech AR Solutions (CSE: NTAR) (NEO: NTAR) (OTCQB: NEXCF) (FSE: N29), is a leading provider of virtual and augmented reality (“AR”) experience technologies and services, based in Vancouver, Canada. The company recently announced the closing of $14 million (the “Offering”) bought-deal short-form prospectus that the company will use for working capital and other purposes. The company issued 2,801,500 units of the company (the “Units”) at $5.00 per Unit and 100,000 common share purchase warrants, as a partial exercise of the over-allotment option amounting to the gross proceeds to roughly $14 million (https://nnw.fm/dIfJW).

The Offering was led by Research Capital Corporation (formerly Mackie Research Capital Corporation) as the sole underwriter and sole bookrunner (the “Underwriter”). Shareholders are entitled to purchase a common share at an exercise price of $6 at any time until April 8, 2023. That date could be moved up with notice subject to NexTech stock trades above $10 on the Neo Exchange for 15 consecutive trading days.

Each Unit consists of one common share of the company and one-half of one Common Share purchase warrant of the company (each whole Common Share purchase warrant, a “Warrant”). The net proceeds raised under the Offering will be used by the company as described in the final short form prospectus of the company dated March 31, 2021.

Nextech believes in creating infinite virtual experiences that engage with your communities and audiences with AR product visualization. In keeping with this innovative approach to design and development, Nextech AR Solutions Corp. recently launched the live holoportation feature in its AiR Show app. The live streaming event showcased Nextech CEO, Evan Gappelberg, featuring a live demo wherein viewers could beam his hologram into their homes. Holoportation is the transportation of a product or person from a particular location, to virtually, all around the world (https://nnw.fm/fqm4s).

Nextech acquired the AiR Show app, its seventh acquisition, from TRICK 3D in the last quarter of 2020. The holoportation technology is still going through many advancements.

For more information, visit the company’s website at www.NextechAR.com.

NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://nnw.fm/NEXCF

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