NexTech CEO Evan Gappelberg to Present on Proactive Investors Livestream, November 19, 2020

VANCOUVER, British Columbia, Nov. 18, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events is pleased to announce that NexTech CEO, Evan Gappelberg, will be presenting at a special Proactive Investors Livestream focusing on NexTech and the innovative Augmented Reality solutions behind its triple-digit sales growth.

NexTech’s live presentation will take place at 1:00 PM ET on Thursday, November 19, 2020

Please click the link below to register for the Livestream:

CLICK TO REGISTER FOR LIVESTREAM

Passcode: 519400

Evan will update investors on NexTech’s latest technological advances, the recent Q3 record revenue growth with Bookings of $6.7 million, +327% growth over Q3 2019 and the company's progress as it pursues four multi-billion-dollar verticals in AR.

Q3 2020 Financial highlights:

• Total Bookings $6.7 million +327% growth over Q3 2019
• Record revenue grows 200% to $4.7 million
• Record backlog of $2 million
• Gross Profit grows 344% to $3.0 million with a 63% margin
• Working Capital of $13.6 million
• Full report has been filed and is available on SEDAR

Other Q3 Highlights:

• Filed to up-list its stock to NASDAQ Capital Market July 2^nd
• Hired Eugen Winschel 18-year SAP Executive as new COO
• Doubled the size of the company to 140 in Q3 from just 70 in Q2 - to continue to meet the rapid ramp up in demand and increase the company's technological capabilities
• Company became approved Microsoft partner
• Launched new distribution deals with well-known consumer brands including Dyson, Philips Norelco, Mr. Coffee, VitaMix, Breviel and Cuisinart
• Landed $250,000 EdTech AR contract with Ryerson University
• Appointed Ori Inbar to its Board of Directors, a recognized AR expert, having been involved in the industry for over a decade as both a start-up entrepreneur and a venture capital investor through Super Ventures
• Acquired the assets of Next Level Ninjas for $720,000 cash consideration
• Launches “Screen AR” A New Augmented Reality Immersive Video Conferencing Software to Accelerate Business Opportunities
• Began building Collaborative Video Conferencing Capabilities to rival Zoom and address Telemedicine and EdTech Markets

The company has issued 500,000 3-year stock options exercisable at $7.24 to its employees under its stock option plan. Also, Felix Ritscher was issued 4,555 common shares with a standard 4-month restriction as a signing bonus.