NexOptic Provides Update on Recent Market Activity

VANCOUVER, British Columbia, June 26, 2020 (GLOBE NEWSWIRE) -- NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1), wishes to make the following statements regarding certain market activity surrounding the Company's common shares.

On June 23, 2020, the Company was notified by OTC Markets about certain promotional activities in relation to the Company's common shares, including certain promotional newsletter emails dated June 22 and 23, 2020 (the “Promotional Materials”) distributed by Penny Stock 101 (“PS101”). The Company was not aware of the Promotional Materials prior to receiving copies from OTC Markets and is unaware of the full nature of the promotional activity or the responsible parties, provided that the Company is now aware that a firm it engaged to seek marketing opportunities, Ludlow Business Services Inc., had engaged Venabo Media LLC (“Venabo”) to assist with its marketing campaigns. The Promotional Materials acknowledge receipt of payment from Venabo. The Company is not aware of the ownership and control of Venabo or PS101 nor has it directly engaged or worked with Venabo or PS101.

Since August 1, 2019, the Company has engaged William Cawker to provide shareholder relations for the Company. The Company has also recently utilized advertising space on BTV Bloomberg and engaged Mountain Capital Corp. to assist it with native internet advertising. Since January 2019, the Company has engaged the following additional third-party providers (together with the persons noted above in this paragraph, the Third Party Providers), Public Eye Consulting Buche, Longview Communications Inc., Investing News Network, Hannah Wu, Blue Sun Productions Inc., Young & Digital Holdings Inc., Elevator North, NAI Interactive Ltd. and Yabucoa Partners Corp. for marketing and brand awareness activities.

Neither the Company nor – to the knowledge of the Company – the Third-Party Providers had notice of or editorial control over the content of the Promotional Materials prior to their dissemination.

After inquiry, the Company confirms that its officers, directors or its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have not, directly or indirectly, authorized or been involved in any way with the creation or distribution of the Promotional Materials.

The Company acknowledges that the distribution of the Promotional Materials coincided with higher than average trading volume in the Company's common stock, however, the Company has no knowledge or opinion as to whether or not the materials themselves affected trading activity. Many other factors, including but not limited to recently issued press releases, could have had an impact on trading volume. On June 23, 2020, the Company announced the introduction of an adjustable turbo-speed anti-glare offering for its All Light Intelligent Imaging Solutions (ALIIS) program and the near completion of the integration of ALIIS into select Qualcomm Snapdragon mobile platforms. The Company believes that its June 23 press release may have been a significant factor in the increase in the trading volume of its common stock.