NexTech AR Files to Uplist on NASDAQ Capital Markets

NEW YORK, July 09, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, Video Conferencing and Virtual Events, is pleased to announce that NexTech has filed to uplist its stock to the Nasdaq Capital Market.

Evan Gappelberg, CEO of NexTech comments, “We have worked very hard to be able to meet the requirements for Nasdaq and believe that we check all the boxes. Our plan to move to a national exchange reflects our capital raising success, as well as the success and momentum in growing our video conferencing software platform InfernoAR and augmented reality business. We believe that listing on Nasdaq will help broaden our shareholder base, increase appeal to institutional investors, indexes and ETF’s and provide shareholders with better liquidity.”

Kashif Malik, CFO of NexTech comments, “I’m excited for the prospect of being listed on such a prestigious exchange as NASDAQ and have been working with our council and NASDAQ to ensure that we meet the criteria to be approved and to get our form 40-F registration statement and form F-X to the SEC.”

After extensive discussions with our council and the NASDAQ, the Company believes it will meet the requirements for listing NexTech’s common stock on The Nasdaq Capital Market. Although the timing is not certain and there can be no guarantee that the company gets approved to be listed the company is expecting the process to take 60 days.

Before any listing of the Company’s common stock on The NASDAQ Capital Market can occur, Nasdaq will need to give final approval of the Company’s listing application. The Company believes it currently meets all listing requirements for listing on The Nasdaq Capital Market. Notwithstanding the foregoing, no assurance can be given that the Company’s common stock will ultimately be listed on The Nasdaq Capital Market.

As part of the company's compensation plan it has issued 50,000 stock options to a consultant to the company at a strike price of $6.20 with 3 year vesting terms.

Recent Company Highlights in 2020:

• July 2, 2020: Hired Arnaud Amet as Director of  Sales for Europe. Mr. Amet situated in Paris, France comes from regional and global sales and marketing roles in Microsoft (MSFT) where he worked for over a decade ending in 2015. He also has significant experience with his own startup in sales and marketing of AR/VR to large brands partnering with Facebook (FB), Huawei and Microsoft.