VANCOUVER, BC—(Marketwired – October 17, 2017) –
For the audio version of today's news release please visit https://nexoptic.com/news/
NexOptic Technology Corp. (“NexOptic”) (OTCQX: 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 effective today, the common shares of NexOptic have upgraded to commence trading on OTCQXÂ® Best Market, a premium public market in the United States, under the symbol “NXOPF”.
OTCQX offers transparent and efficient trading of established, investor–focused U.S. and global companies.
To qualify to trade on OTCQX, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third–party sponsor introduction.
“A select 350+ companies with a combined market capitalization of approximately US $1.4 trillion, and nearly US $40 billion in annual dollar volume, trade alongside us on OTCQX,” said Samantha Shorter, Chief Financial Officer of NexOptic. “Increasing international access to NexOptic's common shares is a key component of our growth strategy.”
NexOptic was sponsored for OTCQX by Burns, Figa & Will, P.C. of Denver, Colorado, a qualified third–party firm responsible for providing guidance on OTCQX requirements and recommending membership.
The common shares of NexOptic will continue to trade on the TSX–V under the symbol “NXO” in addition to Frankfurt under “E301″ and Berlin under “E301.”
NexOptic Engages Trapeze Group for Market Making Services
The Companies are also pleased to announce that, effective today, NexOptic has retained Trapeze Capital Corp. of Toronto, Canada to provide market–making services in accordance with TSX–V policies.
Under the terms of their agreement (the “Agreement”), Trapeze will receive compensation of $5,500 per month and will not receive any Common Shares or options of NexOptic as compensation. However, Trapeze and its clients may acquire a direct interest in the securities of NexOptic. NexOptic and Trapeze are unrelated and unaffiliated entities; Trapeze is a member of the Investment Industry Regulatory Organization of Canada, a participating organization of TSX and a member of TSX–V. The capital and securities required for any trade undertaken by Trapeze as principal will be provided by Trapeze. The Agreement is for a term of six months.
About NexOptic Technology Corp.
NexOptic is a publicly traded company, which has an option to acquire, in the aggregate, 100% of Spectrum Optix Inc. (the “Acquisition”) 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. As was outlined in the Companies' joint September 20, 2017 news release, the completion of said Acquisition is imminent.
Spectrum is developing technologies relating to imagery and light concentration applications. Utilizing Blade Opticsâ¢, Spectrum's suite of optical technologies, the Companies aim to increase aperture sizes within given depth constraints of various imaging and non–imaging optical applications. Blade Opticsâ¢ refers to Spectrum's lens designs, algorithms and mechanics which vary from patented, patent pending and includes all of Spectrum's intellectual property and know how.
Earlier this year, Spectrum completed its proof–of–concept digital telescope prototype that utilizes a patented Blade Opticsâ¢ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Spectrum's Blade Opticsâ¢ technology and its potential to serve as a platform to be used in various optical applications.
Benefits of Blade Opticsâ¢ Technology
The Companies believe that Blade Opticsâ¢ has the potential to breakdown many of the limitations associated with conventional lens stacks:
- Aperture size: Blade Opticsâ¢ may allow the aperture–to–depth ratio to be increased in depth–limited optical devices to permit increased resolution compared to conventional 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 OTCQX 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
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 the Companies' technology, the development of the mobile lens system prototype, the potential applications of Spectrum's technologies, the Companies' ability to obtain patents and the technology's potential market impacts. 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 Companies operate 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 prototype development is at an early stage and additional work will be required to confirm potential applications and feasibility of Spectrum's technologies; the Companies may not be able complete the prototype as currently expected; when developed, the prototype may not demonstrate design specifications; the risk that the prototype may not achieve results expected by the Companies; the Companies may not be able to commercialize their technology even if the prototype is successful; patent applications may not result in grants; and other risks inherent with the patent process, transactions of this type and the business of Spectrum and/or NexOptic. Such forward looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, NexOptic is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward looking statements, whether as a result 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.