Nextech3D.ai Closes Final Round of Private Placement Raising a Total of $1,098,926

Nextech3D.ai Closes Final Round of Private Placement Raising a Total of $1,098,926

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Nextech3D.ai (the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2) is pleased to announce that it has closed the third tranche of its previously announced private placement (the "Offering") pursuant to which it has issued an aggregate of 359,000 units ("Units") at a price of $0.12 per Unit, to raise aggregate gross proceeds of $43,080. In total, the Company issued an aggregate of 9,157,722 Units pursuant to the three tranches of the Offering to raise aggregate gross proceeds of $1,098,926

Each Unit is comprised of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"), with each whole Warrant exercisable to acquire one additional Share at a price of $0.17 for a period of 36 months from the date of issuance thereof.

An aggregate of 254,000 of the Units issued in the third tranche were issued pursuant to National Instrument 45-106 - Prospectus Exemptions ("NI 45-106") in accordance with Part 5A thereof (the "Listed Issuer Financing Exemption"). The Units offered under the Listed Issuer Financing Exemption are not subject to resale restrictions pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at https://www.nextechar.com/. The balance of the Units issued in the third tranche of the Offering are subject to a statutory hold period expiring on March 30, 2024.

The net proceeds from the Offering will be used for working capital and general corporate purposes. The Company paid a finders fee of $2,438.40 to eligible registrants assisting in the third tranche of the Offering, and issued an aggregate of 20,320 broker warrants ("Broker Warrants") to such registrants, with each Broker Warrant entitling the holder to acquire one Share at $0.12 for a period of 36 months.

In other news, the Company is also pleased to announce that it is currently considering the spinout of an interest in its 3D modelling platform, upon terms yet to be determined. No definitive agreement has been reached with regard to any such matter and the Company continues to consider various alternatives to maximize shareholder value. The Company will provide further updates in due course.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

About Nextech3D.ai

The Company is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. The Company develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.

On October 26, 2022, the Company spun out its spatial computing platform, "ARway.ai" as a stand alone public company. ARway.ai is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking. The Company retained 13 million shares in ARway and distributed 4 million shares to Nextech3D.ai shareholders. ARway.ai is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the OTCQB (OTC:ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65).

On June 14, 2023, the Company completed its second spinout of Toggle3D.ai, a groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply stunning 4K texturing, and enable seamless publishing of superior 4K 3D models. The Company retained 13 million shares in Toggle3D.ai and distributed 4 million shares to Nextech3D.ai shareholders. Toggle3D.ai is trading on the Canadian Securities Exchange (CSE:TGGL) and in the USA (OTC:TGGLF).

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:

Investor Relations Contact
Julia Viola
investor.relations@nextechar.com

Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)

Disclaimer for Forward-Looking Information

This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to the anticipated size and timing of Offering, insider participation in the Offering, and the receipt of all applicable approvals in connection therewith.

Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of the Company. Such statements can generally, but not always, be identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. All statements that describe the Company's plans relating to operations and potential strategic opportunities and the potential spinout of an interest in its 3D modelling platform, are forward-looking statements under applicable securities laws. These statements address future events and conditions and are reliant on assumptions made by the Company's management, and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could materially differ from those currently projected, and there is no representation by the Company that the actual results realized in the future will be the same in whole or in part as those presented herein. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company's filings that are available at www.sedarplus.ca

The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company does not undertake to update any for-ward looking statements, other than as required by law.

SOURCE: Nextech3D.ai



View source version on accesswire.com:
https://www.accesswire.com/811196/nextech3dai-closes-final-round-of-private-placement-raising-a-total-of-1098926

News Provided by ACCESSWIRE via QuoteMedia

NTAR:CNX
The Conversation (0)
Nextech3D.ai Expands AI Tech Team and Doubles Office Space as Demand Increases for GPT AI Platform and 3D Model Production in Hyderabad, India

Nextech3D.ai Expands AI Tech Team and Doubles Office Space as Demand Increases for GPT AI Platform and 3D Model Production in Hyderabad, India

Company is Negotiating Major Licensing Deals For its GPT AI 3D Modeling Technology

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative GPT AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce is pleased to announce the expansion of its AI tech team by doubling its office space in Hyderabad, India, to accommodate its expanding team. The Company is also in negotiations for a major license of its GPT AI 3D modeling CAD to 3D and texturing technology. Nextech3D.ai will continue to supply 3D models to the largest brands and .platforms as it gears up increasing revenue and profit margins by signing licensing deals with global manufactures that have CAD files.3D GPT AI Licensing TechnologyThe Company's strategic move to license its GPT AI tech is set to remove the traditional barriers of price and volume that have long restricted the accessibility of high-quality 3D modeling technology for e-commerce and other industries. Nextech3D.ai has leveraged its groundbreaking GPT AI powered technology to dramatically slash the cost of 3D models from CAD files to $10 to 20 while producing the highest quality 4K quad mesh photo realistic models, enabling scalability while being highly profitable

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive

Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive

Transformative GPT AI Suite of a dozen 3D-AI Solutions To Lead Companies Growth

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce is pleased to announce it is launching the next era of GPT AI 3D product solutions of proprietary Artificial Intelligence (AI) algorithms. The initiative will be led by former Microsoft Executive Hareesh Achi, who is Nextech3D.ai's current Head of Product Operations. The Company believes that the AI opportunity is in the early stages, and that the shift from 2D to 3D modeling for e-commerce is part of a major multi-decade transformation that is being led by AI. The Company is working on annual enterprise licensing deals for its suite of GPT AI solutions for 3D models and 3D maps

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company

Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is thrilled to announce a significant $1.8 million 3D modeling contract with a major enterprise client. This deal provides significant revenue for the Company to be delivered in 2024, and showcases Nextech3D.ai's position as an industry leader for 3D modeling in the $6.3 trillion e-commerce market.1

Nextech3D.ai CEO Evan Gappelberg commented, "Nextech3D.ai has been at the forefront of the massive shift from 2D static images to 3D immersive experiences, utilizing augmented reality and cutting-edge generative AI technology to create photo-realistic 4K 3D models that cater to the specific needs of major e-commerce companies. Nextech3D.ai is seeing demand from around the globe and is currently negotiating with three additional enterprise clients that are in the six and seven figure range." He continued, "This $1.8 million deal is not just a testament to Nextech3D.ai's technological prowess but also to the rapidly growing importance of 3D modeling in e-commerce, and demonstrates the scalability and adaptability of Nextech3D.ai's technology. We are focused on large enterprise deals in an effort to ramp up our revenue base and solidify Nextech3D.ai's position as a leader in the field of 3D and AI for e-commerce."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results

Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers announces its preliminary unaudited financial and operating results for the full year 2023, ended December 31, 2023. These preliminary unaudited results show strong annual revenue growth of +56% to $5 million compared to $3.2 million in 2022. Annual gross profit margin for 2024 is estimated at 30% which with the company's pivot to India in Q4,2023 and improvements in its AI is projected to increase dramatically in 2024

CEO Commentary
Nextech3D.ai CEO and founder Evan Gappelberg commented, "While 2023 was a solid year of growth for our Company, we are expecting even stronger gains in 2024 as the 3D modeling revolution gains steam and our business gains more economies of scale. Moving operations to India was a major positive for our production capability, but especially our profits as we are now seeing consistent profit margins of over 50% in our businesses, which is approximately an 80% improvement over 2023." He continued, "We are currently negotiating multiple major contracts for our 3D modeling business while simultaneously building important AI technology that will continue to drive our revenue and profits forward. We are seeing a convergence of AR and AI technology begin to drive the adoption of all our portfolio of technologies including 3D modeling, spatial computing and AI texturing…we are excited for releasing the technology we are building and for record results in 2024!"

Preliminary Annual 2023 Financial Highlights

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Nextech3D.ai Signs New 3D Modeling Contract with Enterprise Giant Global Industrial Company

Nextech3D.ai Signs New 3D Modeling Contract with Enterprise Giant Global Industrial Company

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to announce it has signed a new 3D modeling contract with Global Industrial Company, a titan in the industrial and commercial equipment sector with over seven decades of market leadership. This new contract has significant growth potential, as Global Industrial is an industry leader with 1.7+ million products in 21 industrial and commercial categories including; building supplies, storage and shelving, workbenches and shop desks and more

The deal with Global Industrial Company not only underscores Nextech3D.ai's growing influence in the 3D modeling arena but also highlights the demand for 3D models in new industrial sectors. 3D models have the potential to transform product visualization beyond traditional Amazon e-commerce by extending its reach into the industrial and commercial categories industry.

News Provided by ACCESSWIRE IA via QuoteMedia

Keep reading...Show less
ARway.ai The Spatial Computing Company Signs New Deal With Kuwait Agency For AR Navigation

ARway.ai The Spatial Computing Company Signs New Deal With Kuwait Agency For AR Navigation

ARway.ai ("ARway" or the "Company") (CSE:ARWY)(OTCQB:ARWYF)(FSE:E65) is an AI powered Augmented Reality Experience platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision is pleased to announce a new deal with AMANAH TEKNOLOGIA, located in Kuwait City, Kuwait. They are another ARway.ai partner, leading technology company and system integrator that provides innovative products to enhance the way businesses and people interact with technology; software development, cloud hosting, e-commerce and marketing

This deal encompasses a project to prototype mobile application for hospitals that integrates with EMR systems and acts as a digital concierge for visitors and staff. The prototype will be tested at the Dar AlShifa Hospital in Kuwait, which will leverage the ARwayKit SDK to provide AR navigation and immersive educational experiences throughout the entire facility. This ensures the hospital journey is as easy and seamless as possible.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
ARway.ai Expanding Its Spatial Computing Platform, Hires New AI Computer Vision and Machine Learning Ph.D Engineer

ARway.ai Expanding Its Spatial Computing Platform, Hires New AI Computer Vision and Machine Learning Ph.D Engineer

ARway.ai ("ARway" or the "Company") (CSE:ARWY)(OTCQB:ARWYF)(FSE:E65) is an AI powered Augmented Reality Experience platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision is excited to announce Soumic Sarkar as a new Computer Vision and Machine Learning Engineer to its existing team bringing its total AI team to eleven as it ramps up its spatial computing platforms capabilities. With a distinguished background in robotics and machine learning, Mr. Sarkar brings a wealth of experience from prestigious institutions and leading-edge projects

With an academic foundation holding a Ph.D. in Control and Automation from the Indian Institute of Technology Delhi, and a rich professional history that includes contributions to robotic navigation, sensor fusion, and autonomous systems design, Mr. Sarkar's expertise is set to propel ARway.ai's spatial computing platform to new heights.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
person with a neuralink brain chip

Can You Invest in Elon Musk’s Neuralink?

In recent weeks, Elon Musk's Neuralink has captured the public’s attention and imagination with its futuristic vision of connecting the human brain to computers.

As Neuralink, which is registered as a medical research company, continues to make strides, investors are wondering how to get a piece of the action by investing in the neurotechnology venture.

Because it is privately held, Neuralink isn't accessible to the average person — but that doesn't mean getting exposure is impossible. Read on to learn how to participate in the growth of this exciting business.

Keep reading...Show less
Nextech3D.ai Featured in Syndicated Broadcast Highlighting Launch of Next Era of GPT AI 3D Solutions

Nextech3D.ai Featured in Syndicated Broadcast Highlighting Launch of Next Era of GPT AI 3D Solutions

Via IBNNextech3D.ai (CSE: NTAR) (OTCQX: NEXCF) (FSE: 1SS) a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce, today announces that it has been featured in a broadcast via NetworkNewsAudio ("NNA"), a solution that delivers additional visibility, recognition and brand awareness in the investment community via distribution to thousands of syndication points. The audio news release covers Nextech3D.ai's recent announcement of the launch of the next era of GPT AI 3D product solutions leveraging proprietary algorithms.

To hear the audio production, visit: https://www.nnw.fm/VFivh

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
XReality Group

xReality Group expands Operator XR to Mexican Market

xReality Group Limited (ASX:XRG) is pleased to announce that it has formalised a partnership with a key technology partner in Mexico for the distribution of Operator XR’s VR technology for Law Enforcement and Military markets.

Tecnología en Sistemas de Apoyo SA (TSA) are a trusted provider to State Police and Judicial agencies across Mexico, having successfully designed, built and implemented the standard judicial recording system used across the majority of Mexican states. Founded in 1999, TSA is a skilled technology services company, trusted by Mexico state agencies, and offers Operator XR access into key Law Enforcement Agencies across Mexico.

Keep reading...Show less
hand touching screen saying "edge computing"

Is Now a Good Time to Invest in Edge Computing?

In today’s rapidly evolving digital landscape, the concept of edge computing has emerged as a critical technology that promises to revolutionize the way data is processed and analyzed.

At its core, edge computing involves bringing computing power closer to where data is generated and used, rather than relying solely on centralized data centers. This distributed approach to computing offers several advantages, such as faster response times, improved data processing efficiency and reduced network congestion.

According to Markets and Markets, the size of the global edge computing market will reach US$53.6 billion in 2024 and grow to US$111.3 billion by 2028, achieving a compound annual growth rate of 15 percent.

Keep reading...Show less

Latest Press Releases

Related News

×