NexTech Establishes a Hollywood Presence With
the Formation of
AR Studios
New York, NY - Toronto, ON, Canada --
April 12, 2019 -- InvestorsHub NewsWire -- NexTech
AR Solutions (the
"Company" or "NexTech") (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29)
is
excited to announce the formation of AR Studios in Hollywood
California. The studio has created a proprietary entertainment
venue for which it is producing immersive content using augmented
reality as the primary display platform.
Heading
up AR Studios is Paul Duffy, inventor of the human hologram and
President of NexTech AR Solutions. Advising the AR Studio team is
Barry Sandrew, Ph.D. A visual effects pioneer and serial
entrepreneur who invented digital colorization of black and white
movies as well as a process for converting 2D feature films to
3D.
Dr.
Sandrew stated, "NexTech is building an innovative concept for
immersive entertainment that I've been waiting over 5 years to
materialize. Within AR Studios the technology, talent and
opportunity to create this new form of storytelling have converged
into what promises to become a game changing entertainment
venue."
"AR
Studios might be the most exciting and important work we do at
NexTech as we are creating a new mass medium which will change the
viewing experience of content forever. Being able to see a
volumetric 3D human in your house or anywhere for that matter
changes everything from entertainment, education, medicine,
advertising and even gaming. The
NexTech engineering teams in Dallas and Austin are building out the
software that will drive both AR content creation and its
distribution" comments Paul Duffy, president of NexTech.
AR
Studios represents a new and exciting vertical for NexTech which is
best known for its '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.' The platform is
affordable, scalable, customizable, and most importantly, easy to
integrate within an existing web interface, making NexTech one of
the leaders in the rapidly growing AR industry, estimated to hit
$120 billion by 2022, according to Statista.
Gartner reports 100
million consumers will shop in augmented reality online and
in-store by 2020. NexTech is rapidly signing up customers and
building out its AR and AI eCommerce offerings, which include using
AI to create a guided and knowledgeable curator that can be
programed to be used across all commerce.
As
part of his advisory position Dr. Sandrew has been granted 500,000
incentive stock options to purchase up to 500,000 common shares in
the capital of the Company at a purchase price of $0.60 per common
share and exercisable for a period of three years from the date of
grant (the "Options"). In addition, the Company intends to issue an
aggregate of 750,000 warrants at a deemed price of $0.62 per common
share (the "Warrants"). The Warrants will be released on the
achievement of milestones. Certificates issued in connection with
the Options and Warrants shall bear a restrictive legend detailing
the customary four (4) month hold period as required by the
CSE.
About NexTech AR Solutions Corp.
NexTech
is bringing a next generation web enabled augmented reality (AR)
platform with Artificial Intelligence (AI) and analytics to the
Cannabis industry, eCommerce, education, training, healthcare and
video conferencing. Having integrated with Shopify, Magento and
Wordpress, its technology offers eCommerce sites a universal 3D
shopping solution. With just a few lines of embed code, the
Company's patent-pending platform offers the most technologically
advanced 3D AR, AI technology anywhere. Online retailers can
subscribe to NexTech's state of the art, 3D AR/AI solution for
$79/mo. The Company has created the AR industry's first end-to-end
affordable, intelligent, frictionless, scalable 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 Director
For
further information, please contact:
Evan
Gappelberg
Chief
Executive Officer
info@nextechar.com
Media
contact:
Erin
Hadden
FischTank
Marketing and PR
ehadden@fischtankpr.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,
level
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.