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NexOptic Receives Patent Notice of Allowance from the US Patent Office for Key Artificial Intelligence Discovery

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VANCOUVER, British Columbia, May 12, 2021 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1), an innovator in remarkable Artificial Intelligence (AI) imaging, announced that the United States Patent and Trademark Office has issued a Notice of Allowance for an important NexOptic patent application covering low light technology, part of the ALIIS™ (All Light Intelligent Imaging Solutions) AI solution suite.

The patent, once issued, will provide key intellectual property protection for NexOptic’s disruptive AI for all levels of imaging including video, data compression and more. The Company is expecting additional approvals for pending patents and continues to file patents covering all aspects of its allis technology.

“We want our leadership position in AI imaging fortified by a growing patent estate” said Paul McKenzie, Co-Founder and CEO of NexOptic. “This Notice of Allowance is a meaningful step in this direction.”

A Notice of Allowance is an indication that the invention qualifies for a patent and that administrative and other steps are required prior to its issuance. An invention is still considered "patent pending" until the final patent has been issued.

What You Need to Know About ALIIS and NexOptic Technology Corp.

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering a world-leading AI suite for imaging known as ALIIS™ (All Light Intelligent Imaging Solutions). NexOptic simultaneously influences the imaging and AI industries and is a Preferred Partner in the NVIDIA Partner Network, a member of the Arm® AI Partner Program, and a member of the Qualcomm® Platform Solutions Ecosystem. For more information, visit www.nexoptic.com.

Media and Investor Enquiries

Tel: +1 (604) 669-7330 x 202
Email: look@nexoptic.com

Forward-Looking Statements

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 artificial intelligence technologies, 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 AI technologies, sport optics product designs and prototype some of which are at an early stage and additional work may 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 all 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 some of 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.