NexOptic Announces Non-Brokered Financing
Vancouver, Canada – August 4, 2017 – NexOptic Technology Corp. (“NexOptic”) (OTCQB: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN: E301) and Spectrum Optix Inc. of Calgary, Canada (“Spectrum,”) and together with NexOptic, (“the Companies”) are pleased to announce that, subject to acceptance by the Exchange, it intends to complete a non-brokered private placement of up to 2,750,000 units of NexOptic (the “Units”) at an issue price of CDN $1.10 per Unit, for gross proceeds of up to CDN $3,025,000 (the “Private Placement”). Each Unit is comprised of one common share in the capital of NexOptic (the “NexOptic Shares”) and one common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to purchase one additional NexOptic Share at an exercise price of CDN $1.50 for a period of 18 months from the date of issuance of the Units.
The net proceeds from the Private Placement are intended to fund development of the Companies’ first commercial application and the previously announced mobile device optical system currently in the engineering and development stage, as well as other next generation lens systems and for general working capital purposes. Finder’s fees may be payable on all or portions of the Private Placement, in accordance with the policies of the Exchange.
About NexOptic Technology Corp.
NexOptic is a publicly traded company, which has an option to acquire, in the aggregate, 100% of Spectrum Optix Inc., a private corporation. The Companies are, in essence, working as a single corporation at this time, with their respective CEOs sitting on each other’s boards of directors. Please see NexOptic’s news release dated November 18, 2014 for additional details regarding this relationship.
Spectrum is developing technologies relating to imagery and light concentration applications. Utilizing Blade Optics™, its suite of patent-pending optical technologies, the company aims to increase aperture sizes within given depth constraints of various imaging and non-imaging optical applications.
Spectrum has completed its proof-of-concept digital (“POC”) telescope prototype that utilizes its patent-pending Blade Optics™ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Spectrum’s Blade Optics™ technology and its potential to serve as a platform to be used in various optical applications.
Benefits of Blade Optics™ Technology The Companies believe that Blade Optics™ has the potential to breakdown many of the limitations associated with conventional, curved lens stacks: Aperture size: Blade Optics™ may allow the aperture-to-depth ratio to be increased in depth-limited optical devices to permit increased resolution compared to conventional curved optical devices with similar depth. Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging devices.
NexOptic trades on the OTCQB under the symbol “NXOPF,” on the TSX Venture as “NXO,” on Frankfurt as “E301” and Berlin as “E301.” More information is available at www.nexoptic.com.
On behalf of the Boards of Directors
NexOptic Technology Corp.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
+1 (604) 669 – 7330