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NexTech AR Solutions Corp. (NEXCF)

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4.4700+0.0634 (+1.44%)
At close: 3:59PM EDT
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Previous Close4.4066
Open4.5200
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range4.4100 - 4.6800
52 Week Range0.4003 - 7.4200
Volume249,768
Avg. Volume954,964
Market Cap277.9M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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Press Releases
  • GlobeNewswire

    NexTech AR Files Final Short Form Prospectus for Unit Offering

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATESVANCOUVER, British Columbia, Aug. 13, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions Corp. (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29) (the “Company” or “NexTech”), is pleased to announce that it has filed and obtained a receipt for a final short form prospectus in each of the provinces of Canada, except Quebec, in connection with its previously announced offering (the “Offering”) of units of the Company (the “Units”) at a price of $6.50 per Unit (the “Offering Price”) for gross proceeds of up to $15,000,000. The Offering is being led by Mackie Research Capital Corporation as sole agent and sole bookrunner (the “Agent”). Each Unit shall be comprised of one common share in the capital of the Company (each a “Common Share”) and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant being a “Warrant”). Each Warrant is exercisable into one common share (each a “Warrant Share”) at a price of $8.00 for a period of 24 months following the closing of the Offering, subject to an accelerated expiry if the volume-weighted average price of the Common Shares on the Canadian Securities Exchange (the “Exchange”) (or such other stock exchange where the majority of the trading volume occurs) exceeds $11.00 for 15 consecutive trading days. At any time after such an occurrence, the Company may give written notice (via news release) to the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day following the giving of notice unless exercised by the holders prior to such date. The Company has granted the Agent an option (the “Over-Allotment Option”) to cover over-allotments and for market stabilization purposes, exercisable in whole or in part at the sole discretion of the Agent, at any time up to 30 days from the closing of the Offering, to increase the size of the Offering by up to 15% of the number of Units (and/or the components thereof) sold pursuant to the Offering, on the same terms and conditions of the Offering.The net proceeds raised under the Offering will be used for sales and marketing expenses, research and development, working capital, potential strategic acquisitions and general corporate purposes.The closing of the Offering is expected to be on or about the week of August 17, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Exchange.The Company will use commercially reasonable efforts to list the Common Shares and the Warrant Shares on the Exchange, subject to the Company fulfilling all of the listing requirements of the Exchange.The Units are being sold on a "best efforts" basis through the Agent by way of a short form prospectus filed in each of the provinces of Canada except Québec and in such other jurisdictions outside of Canada and the United States on an exempt basis in accordance with applicable securities laws. The securities described in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (“U.S. Securities Act”) or any state securities laws. Accordingly, the securities may not be offered or sold in the United States (as such term is defined in Regulation S under the U.S. Securities Act) or to, or for the account or benefit of, a U.S. person (as such term is defined in Regulation S under the U.S. Securities Act) except pursuant to transactions exempt from registration under the U.S. Securities Act and under the securities laws of any applicable state. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.About NexTech AR Solutions NexTech is one of the leaders in the augmented reality (AR) industry. NexTech has a two-pronged strategy for growth including growth through acquisition of eCommerce businesses and growth of its omni-channel AR SaaS platform called ARitize™.The Company is pursuing four verticals in AR.ARitize™ For eCommerce: The Company launched its technologically advanced webAR for eCommerce early in 2019. Its current customers include Walther Arms, Wright Brothers, Mr. Steak, and Budweiser. NexTech has the first ‘full funnel’ end-to-end eCommerce solution for the AR industry including its 3D product capture, 3D ads for Facebook and Google, ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’.ARitize™ 3D/AR Advertising Platform: The Company launched this advertising platform in the first quarter of 2020. The ad platform will be the industry's first end-to-end solution whereby the Company will leverage its 3D asset creation into 3D, 360, AR ads.InfernoAR: InfernoAR is a SaaS video platform that integrates interactive video, artificial intelligence and augmented reality in one secure platform to allow enterprises the ability to create virtual event management and learning experiences. InfernoAR has automated closed captions in over 64 languages.ARitize™ Hollywood Studios: The studio has created a proprietary entertainment venue for which it is producing immersive content using 360 video, and AR as the primary display platform.To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.nextechar.com.For further information, please contact:Evan Gappelberg Chief Executive Officer info@nextechar.com (631) 655-6733NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Caution regarding forward-looking informationCertain information set forth in this news release, including, without limitation, information regarding the requisite regulatory approvals and the anticipated development of NexTech’s products and markets, and the anticipated use of proceeds from the Offering is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond NexTech’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by NexTech, including expectations and assumptions regarding the timing and potential completion of the Offering, satisfaction of regulatory requirements in various jurisdictions and the use of proceeds from the Offering.Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; relationships with customers, business partners and competitors; the Company’s ability to win business from new customers and expand business from existing customers; the timing of new customer wins; and achieving the Company’s development goals.  As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the development of NexTech’s products and markets and the receipt of all required regulatory approvals. A comprehensive discussion of other risks that impact NexTech can also be found in NexTech’s public reports and filings which are available under NexTech’s profile at www.sedar.com.Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. NexTech does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

  • GlobeNewswire

    Canadian Urban Transit Association (CUTA) chooses NexTech’s InfernoAR Video and Virtual Events Platform

    More Global Enterprise, Government Agencies, and Educational Institutions choosing InfernoAR to meet their needs as business demands accelerate for the digital transformation of events & meetingsVANCOUVER, British Columbia, Aug. 13, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, and AR-enhanced video conferencing and virtual events, is pleased to announce it has been selected by the Canadian Urban Transit Association (CUTA) to provide its InfernoAR virtual event services. The contract value is for $90,000, which is part of a growing global shift in dollars from government agencies, universities, and corporations to virtual meetings and AR solutions, technologies of which NexTech is uniquely positioned to provide.   NexTech’s InfernoAR will power CUTA’s annual conference, which will be virtual for the first time ever, November 16-19, 2020. Marco D'Angelo, CEO of CUTA, said, “CUTA is excited to pivot to a virtual conference and the international reach it allows. It’s an event unlike anything we’ve done before in a year unlike any of us have seen before. We needed more than a webcam meeting. We needed a true virtual conference and reviewed dozens of virtual platforms. We chose NexTech's InfernoAR not only for its extensive technological capabilities, but the responsiveness and enthusiasm of its team.”According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR. With NexTech’s InfernoAR platform having augmented reality, AI, end-to-end encryption and built in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.“We are gratified that CUTA, which is such a significant part of the Canadian transportation infrastructure, has chosen to work with us. Their vision for how to take their annual program to an all-digital experience speaks of their commitment to their attendees and exhibitors and to their leadership position in the transportation industry globally,”  said Evan Gappelberg, NexTech CEO. “Due to COVID-19 the virtual events market is witnessing extremely high demand, which we expect to translate into accelerating  new business opportunities for Nextech for the next 12 months and beyond.”He continues “When live events do return to the mainstream, virtual events are likely to continue to play a major part in event strategies because they are budget-friendly, ensuring a very high ROI along with a dynamic attendee experience. InfernoAR is pushing the boundaries of what's possible with new virtual event ScreenAR technology, creating an exciting, immersive, and sticky experience that we believe will continue to be in demand long after COVID19.”The Company has disseminated news releases during the current calendar year announcing a selection of contracts and agreements entered into with valued customers. The terms and conditions of each contract vary, but the previously announced contracts (in the aggregate) indicate a continued demand for the Company’s product and service offerings. The 2020 new releases dated: January 14; February 12 &19; May 21 &26; June 10, 12, 17, 18, 22 & 25; July 7 & 29 and August 4. The selection of contracts in aggregate total $863,362 across 15 customers. Additional details for these agreements is set out in the prospectus.About CUTA: CUTA members include the vast majority of transit systems in Canada, from Victoria and Vancouver to Halifax and St. John’s. Members include transit systems, government agencies (federal, provincial, regional and municipal), business members (companies or persons engaged in the manufacture or sale of transit equipment or services) and affiliates (associations, individuals and others).About NexTech AR Solutions Corp.NexTech is one of the leaders in the rapidly growing Augmented Reality market  estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.The company is pursuing four verticals: ARitize™ For eCommerce: The company launched its SaaS platform for webAR in eCommerce early in 2019. NexTech has a ​‘full funnel’ end-to-end eCommerce solution for the AR industry including its Aritize360 app for 3D product capture, 3D/AR ads, its Aritize white label app it’s ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’.ARitize™ 3D/AR Advertising Platform: Launched in Q1 2020 the ad platform will be the industry's first end-to-end solution whereby the company will leverage its 3D asset creation into 3D/AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.InfernoAR:  An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages.ARitize™ Hollywood Studios: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform.To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.nextechar.com.On behalf of the Board of NexTech AR Solutions Corp. “Evan Gappelberg” CEO and DirectorFor further information, please contact:Evan Gappelberg Chief Executive Officer info@nextechar.com  The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of NexTech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. NexTech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

  • GlobeNewswire

    NexTech to Release Q2 Earnings on August 25th, 2020

    VANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, and Virtual Events, is pleased to announce that NexTech CEO Evan Gappelberg and CFO Kashif Malik, CPA, CA will be hosting the companies live conference call after the close on August 25th, 2020. The earnings will be released after the close and the call will begin at 4:30 EST.Bridge Name: NexTech AR Solutions Conference ID: 597-9019 Dial in: +1 (435)-777-2200 Toll-Free: +1 (800) 309-2350The presentation will be followed by a question and answer session.For those unable to join the live event, a recording of the presentation will be posted later on the company's website.Preliminary numbers and Q2 2020 highlights: * Record revenue grows 133% to $3.5 million * Record gross Profit grows 171% to $2.1 million with a 60% margin * Record cash on hand of $6.4 million * Record working Capital of $7.3 million * Obtained credit facility from the Royal Bank of Canada of $600k * Applied for uplist to NASDAQ CM * InfernoAR virtual events product launches and revenues begin scaling * On 7/21-Evan Gappelberg, CEO of NexTech AR Solutions purchased 250,000 shares through a warrant conversion for a total consideration of $175,000 the shares increased his total holdings to 6,093,328.On July 23, 2020 The company announced a financing on July 23, 2020 (the “Offering”), will be for an offering size of up to $15,000,000. The Offering will be conducted on an agency basis for the issuance of up to 2,307,692 units of the Company (the “Units”) at a price of $6.50 per Unit. The Offering is being led by Mackie Research Capital Corporation as sole agent and sole bookrunner (the “Agent”).The closing of the Offering is currently expected to be on or about the week of August 17, 2020 and is subject to certain conditions including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory approvals including the approval of the Exchange.Evan Gappelberg, CEO of NexTech comments, “We are pleased to report that our preliminary second quarter ended June 30th, 2020 results were positive and very strong across our business segments. These results were driven by new customer additions, expansion of product lines and increases in conversions from our e-commerce and the newly acquired, InfernoAR business.” He continues, “We are uniquely positioned to see our business benefit from this new ‘stay at home' paradigm shift with our AR ecommerce, video conferencing and Virtual Events business units. The digital transformation that is taking place globally is creating more business opportunities for video conference virtual learning, virtual conferences, or virtual events, and e-commerce than ever before.”The CEO continues, “NexTech’s leadership position in this industry is now attracting more M&A opportunities, as we are being approached by innovative AR/VR technology companies. We have closed on four deals in the last 18 months and are in discussions with several candidates with an eye toward a transformative acquisition, which could further enhance shareholder value.”About InfernoAR InfernoAR, supports clients that require integration with enterprise systems, custom workflow, cognitive search and discovery, interactive features and secure multi-CDN streaming in front of and behind the firewall. The platform services Fortune 500 businesses like Johnson and Johnson, Viacom, Polycom and others. InfernoAR is super secure with token authentication allowing the CDNs to reject serving videos to unauthorized users, by taking the JWT authentication to the edge security is pushed closer to the user and load is taken off the core application. InfernoAR has been providing top products and service in the video streaming space for 10+ years.The company is pursuing four verticals in AR. ARitize™ For eCommerce: The company launched its technologically advanced webAR for eCommerce early in 2019 and has been rapidly signing up customers onto its SaaS platform. Customers include Walther Arms, Wright Brothers, Mr. Steak, and Budweiser. NexTech has the first ​‘full funnel’ end-to-end eCommerce solution for the AR industry including its 3D product capture, 3D ads for Facebook and Google, ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’.ARitize™ 3D/AR Advertising Platform: Launched in Q1 2020 the ad platform is a end-to-end solution whereby the company will leverage its 3D asset creation into 3D, 360, AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.InfernoAR: Advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages put InfernoAR in a class by itself.ARitize™ Hollywood Studios: Expected to launch in 2020, the studio has created a proprietary entertainment venue for which it is producing immersive content using 360 video, and augmented reality as the primary display platform.To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.nextechar.com.On behalf of the Board of NexTech AR Solutions Corp. “Evan Gappelberg” CEO and DirectorFor further information, please contact:Evan Gappelberg Chief Executive Officer info@nextechar.com 631-655-6733The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of NexTech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. NexTech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.