Nextech3D.ai Game-Changing Generative-AI CAD 3D Design Studio Toggle3D.ai Primed For $7 Million June IPO

Nextech3D.ai shareholders of record set to receive a 4,000,000 share stock dividend

The company will trade under the ticker symbol: TGGL

TORONTO, May 24, 2023 (GLOBE NEWSWIRE) -- via IBN -- Nextech3D.AI (formally "Nextech AR Solutions Corp'' or the "Company") (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is thrilled to announce the eagerly anticipated spin-off of Toggle3D.ai. The expected trade date for Toggle3D.ai (CSE:TGGL)  is June 13, 2023 (subject to approvals) of the Canadian Securities Exchange. Nextech shareholders of record will be issued an exclusive dividend of 4,000,000 newly issued shares in the revolutionary Toggle3D.ai, on a pro-rata basis.

Toggle3D.ai is 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, serving various industries within the $160 billion CGI market. With its Augmented Reality-based rapid prototyping web app, Toggle3D.ai empowers designers, artists, marketers, and eCommerce owners to effortlessly convert, texture, customize, and publish high-quality 3D models and experiences, regardless of technical or 3D design expertise.

After the IPO spin-out Nextech3D.ai is going to retain 13 million shares or about a 50% ownership stake in Toggle3D.ai. The Company is selling about 8,400,000 shares at  $0.25 per unit (including a $0.50 warrant). The Company has raised $2.1mill dollars giving Toggle3D.ai  a $7.1 million post money valuation.

The spin-out of Toggle3D.ai follows Nextech's successful spin-out on 10/26/2022  of ARway.ai, currently trading on the CSE as ARWY and on the OTCQB as ARWYF.

Toggle3D.ai is emerging as a standalone public company, initially trading on the CSE as TGGL, with plans to expand its presence to the Frankfurt and OTC markets in the near future. This strategic move not only drives innovation but also unlocks substantial shareholder value, reflecting Nextech's commitment to driving the industry forward.

Timeline to IPO:

Annual General and Special Meeting  (AGSM) is scheduled to take place on June 5, 2023
The final court hearing to approve the plan of arrangement is scheduled for June 9, 2023
The expected trade date for Toggle3D.ai (CSE:TGGL)  is June 13, 2023 on the Canadian Securities Exchange

Toggle3D.ai Platform Improvements and Updates

As of May 17, 2023, the Toggle3D.ai platform had a total of 2,204 sign-ups representing a 1533% increase. Since the Beta launch, Toggle3D.ai3Dai has attracted a variety of users such as designers, developers, 3D artists, entrepreneurs and creators, reaching thousands of users on the platform within a few months.