Vancouver B.C., Canada -- January 4th, 2021
-- InvestorsHub NewsWire -- NexTech AR
Solutions (NexTech)
(OTCQB:
NEXCF) (CSE:
NTAR) (FSE: N29), a leading provider of virtual and augmented
reality (AR) experience technologies and services for 3D/AR
advertising, eCommerce, education, conferences and events today
announced that it has increased its bitcoin ownership to
approximatley 130.187 bitcoins at an aggregate cost of $4million
USD, and may add more in 2021.
Nextech CEO Evan Gappelberg comments “Our continued
investment in bitcoin in the past week is part of
our new capital
diversification and allocation strategy announced on
December 29th, with the intent to
maximize long-term value for our shareholders. Our initial purchase
of $2million was completed last week and with this follow on
$2million buy our treasury purchase of bitcoin now sits at
$4million. This doubling down reflects our strong belief
that bitcoin is an excellent long term store of value and an
attractive investment asset with more long-term appreciation
potential than holding cash which is currently yielding 0.06%.
Bitcoin is seen as the digital version of gold which has a total
market capitalization of $10trillion versus bitcoin's total market
capitalization of just $600billion. He continues “In
2020 our businesses, which are all part of the digital
transformation, benefited as COVID19 accelerated the adoption of
new technologies such as augmented reality, AI, virtual events,
cloud computing, blockchain, and e-commerce. As we enter 2021, I
believe that the digital transformation has now created a paradigm
shift in capital diversification to ‘digital gold’ or bitcoin. As
more institutional capital allocators adapt to this new paradigm
they will be prodded to diversify their portfolio into bitcoin
which will likely push the value of bitcoin closer to the value of
gold, meaning that over 90% of the upside for bitcoin is still
ahead of us”.
Nextech comments on the NEO Up listing January 5th,
2021:
Evan Gappelberg CEO of NexTech commented; “ We are
excited to be approved and ready to be listed on the NEO, a senior
exchange in Canada, which provides many tangible benefits for our
shareholders including, our stock being eligible for margin
trading, added liquidity and exposure to new institutional
investors which will allow our growth to continue. The
listing date is set for the open on Tuesday January 5th,
2021.
He continued; “Our goal as a dual listed company is
to be listed on a senior exchange in the US market as well as
Canada, which is why we filed on July 2nd, 2020 to up list in the
US to the NASDAQ Capital Markets Group, which we are expecting will
happen in the near future.
Recent Company
Highlights in 2020:
December 29th,
2020: Nextech announced that it plans to make an initial
investment of $2million in Bitcoin and may add more in
2021.
December 21,
2020: Nextech CEO
Evan Gappelberg buys 250,000 shares his fifth purchase in 2020
continues to increase his position.
Company hires
executives from major technology companies including; Oracle, IBM,
SAP, Cisco to support its ambitious Asia Pacific and Japan product
rollout
December 15,
2020: Nextech
announced that it has received conditional approval to list its
common shares with the NEO Exchange (“NEO”). Final
approval is subject to the Company fulfilling all of NEO’s listing
requirements. Subject to final approval by NEO, NexTech’s common
shares are expected to be listed on NEO on January 5,
2021.
December 11,
2020: Company expanded
into China and Hired Steven Seet, as its Senior Director, Asia
Pacific. In his new role, Seet will utilize his vast network and
industry experience to support NexTech with its rapid expansion
into Asia’s MICE industry, which according to Allied Market
research is valued at $229 billion.
December 9th,
2020: Company announced
the launch of a new Zoom-like,
collaborative streaming solution with AI and AR enhancements, that
integrates with its existing Virtual Experience Platform (VEP) and
its ARitize SaaS offerings. NexTech will also offer the streaming
platform ‘ARoom’, as a stand-alone service externally similar to
Zoom, increasing the company's revenue potential for
2021.
December 8th,
2020: Announced
that the Canadian Society of
Nephrology (CSN) has chosen NexTech AR’s Virtual Experience
Platform (VEP) to host its 2021 Annual General Meeting, taking
place May 10-13.
December 3rd,
2020: Company announced that it has achieved a
record-breaking 315% increase in
Black Friday sales year-over-year across it’s AR eCommerce
platform. With 2020 being a year dominated by coronavirus, shoppers
have shown that they will embrace the convenience and safety of online shopping more than
ever.
December 2nd,
2020: Company
announced the creation of its new Artificial Intelligence (AI)
division. Through a dedicated initial team of three AI experts
focused on enhancing NexTech’s AI capabilities, the company aims to
gain a competitive edge and create new portfolio offerings to
complement its AR; streamlining operations for clients while
tapping into a market that is expected to surpass $300 billion in
revenues by 2024.
December 1st,
2020: The company
entered into seven additional strategic channel partnerships
bringing the total for the Asia Pacific region to eight. These
partner agreements support both the $35B e-learning market and $229B MICE industries, two target sectors that NexTech
is focusing on in the Asia Pacific market
expansion.
November 23rd,
2020: The company acquired
hybrid event management platform, Map
Dynamics. The company's self-serve hybrid virtual events
platform supports live video, chat,
networking, and analytics, reporting
for associations, conferences, trade shows, webinars,
summits, forums, workshops, events. It helps organizers create,
host, and manage live events for 100,000+ attendees both online and
in its branded native event
app.
To learn more about NexTech,
please click here.
About
NexTech AR
NexTech is one of the
leaders in the rapidly growing Augmented Reality market, estimated to
grow from USD $10.7B in 2019 and projected to reach USD $72.7B by
2024 according to Markets & Markets Research; it is expected to
grow at a CAGR of 46.6% from 2019 to
2024.
The company is
pursuing four verticals:
Virtual Experience
Platform: An advanced Augmented Reality and Video
Learning Experience Platform for Events, is a SaaS video platform
that integrates Interactive Video, Artificial Intelligence and
Augmented Reality in one secure platform to allow enterprises the
ability to create the world’s most engaging virtual event
management and learning experiences. Automated closed captions and
translations to over 64 languages. According to Grandview Research the
global virtual events market in 2020 is $90B and expected to reach
more than $400B by 2027, growing at a 23%
CAGR. With NexTech’s Virtual Conference Platform having
augmented reality, AI, end-to-end encryption and built in language
translation for 64 languages, the company is well positioned to
rapidly take market share as the growth accelerates
globally.
ARitize™ For
eCommerce: The company
launched its SaaS platform for webAR in eCommerce early in 2019.
NexTech has a ‘full funnel’ end-to-end eCommerce solution for the
AR industry including its Aritize360 app for 3D product capture,
3D/AR ads, its Aritize white label app it’s ‘Try it On’ technology
for online apparel, 3D and 360-degree product views, and ‘one click
buy’.
ARitize™ 3D/AR
Advertising Platform: Launched in Q1 2020 the ad platform will be
the industry's first end-to-end solution whereby the company will
leverage its 3D asset creation into 3D/AR ads. In 2019, according
to IDC, global advertising spend will be about $725
billion.
ARitize™ Hollywood
Studios: The studio is in
development producing immersive content using 360 video, and
augmented reality as the primary display
platform.
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:
Evan
Gappelberg
Chief Executive
Officer
info@nextechar.com
The NEO Exchange
has neither approved nor disapproved the contents of this news
release, and is not responsible for the adequacy and accuracy of
the contents herein.
The CSE has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
Certain
information contained herein may constitute “forward-looking
information” under Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as, “will be”, “looking forward”
or variations of such words and phrases or statements that certain
actions, events or results “will” occur. Forward-looking statements
regarding the Company increasing investors awareness are based on
the Company’s estimates and are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
levels of activity, performance or achievements of NexTech to be
materially different from those expressed or implied by such
forward-looking statements or forward-looking information,
including capital expenditures and other costs. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements and
forward-looking information. NexTech will not update any
forward-looking statements or forward-looking information that are
incorporated by reference herein, except as required by applicable
securities laws.
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