SOURCE: Spectrum Optix Inc.

Spectrum Optix Inc.

SOURCE: NexOptic Technology Corp.

NexOptic Technology Corp.

March 02, 2017 09:00 ET

Flattening the Telescope -- NexOptic to Unveil Blade Optics™ Prototype on April 4th

VANCOUVER, BC--(Marketwired - March 02, 2017) -

For the audio version of today's news release please visit http://nexoptic.com/investors/news/

NexOptic Technology Corp. ("NexOptic") (OTCQB: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN: E301) and Spectrum Optix Inc. of Calgary, Canada ("Spectrum") and together with NexOptic, the ("Companies") are pleased to announce additional details regarding their forthcoming media event to be held at the H.R. MacMillan Space Centre in Vancouver, British Columbia, Canada on April 4, 2017 at 7:00 p.m. PST.

The theme of the evening is "Flattening the Telescope," and will mark the Companies' first step in transforming what they believe may redefine many additional optical applications by utilizing their patent-pending Blade Optics™ lens technology.

The event will be the first public unveiling of the Companies' Blade Optics™ prototype. The prototype is a disruptive telescope system which contains flat lenses, a square aperture and ~1:1 lens stack depth to aperture ratio -- an unprecedented form factor compared to the much longer telescope lens stacks predominantly in use today. The venue is limited to 230 members of the media and the investment community.

Hosted by NexOptic and Spectrum, the unveiling event is being sponsored, in part, by several organizations, including Haywood Securities as the Platinum Sponsor. Pinnacle Digest, Equedia Investment Research, BTV - Business Television, Red Truck Beer, and the Granville Island Hotel each serve as Gold Sponsors for the evening.

In addition to unveiling the Blade Optics™ prototype, the event will include keynote presentations from:

  • Spectrum Co-Founders, Darcy Daugela and John Daugela (John Daugela is the CEO of Spectrum and a Director of NexOptic); and
  • Stephen Petranek, NexOptic Director. Mr. Petranek is a technology futurist, the Co-Executive Producer of the highly acclaimed National Geographic series MARS and was the former Editor-in-Chief of Discover Magazine;

Additional presentations will be made by:

  • Page Tucker, advisor to both NexOptic and the State of Colorado. Mr. Tucker was named the 2016 Entrepreneur of the Year by the Colorado Technology Association; and
  • Carey Wheeler, an advisor and image processing consultant to NexOptic. Mr. Wheeler is a geospatial intelligence analyst formerly with INSCOM (Intelligence and Security Command) at the National Geospatial-Intelligence Agency (NGA) in Washington, DC.

A limited number of seats remain available for both media and members of the investment community. Reservation inquiries should be directed to NexOptic by email only at media@nexoptic.com.

Benefits of Blade Optics™ Technology

The Companies' believe that Blade Optics™ has the potential to breakdown many of the limitations associated with conventional, curved lens stacks, including:

• Aperture size: Blade Optics™ may allow the aperture-to-depth ratio to be increased in depth-limited optical devices to permit increased resolution compared to conventional curved optical devices with similar depth.

• Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging devices.

NexOptic trades on the OTCQB under the symbol "NXOPF," on the TSX Venture as "NXO," on Frankfurt as "E301" and Berlin as "E301." More information is available at www.nexoptic.com.

About NexOptic Technology Corp.

NexOptic Technology Corp. is a publicly traded company, which has an option to acquire, in the aggregate, 100% of Spectrum Optix Inc., a private corporation. The Companies are, in essence, working as a single corporation at this time, with their respective CEOs sitting on each other's boards of directors. Please see NexOptic's news release dated November 18, 2014 for additional details regarding this relationship.

Spectrum is developing technologies relating to imagery and light concentration applications. Utilizing its patent pending Blade Optics™ technology, which contains flat lenses, the company aims to disrupt conventional lens and image capture-based systems.

Spectrum is preparing to reveal its proof of concept telescope prototype to the public for the first time that will utilize its patent-pending Blade Optics™ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Spectrum's Blade Optics™ technology and its potential to serve as a platform to be used in various optical applications. For the latest developments pertaining to the prototype please see the Companies' joint news release dated February 21, 2017.

On behalf of the Boards of Directors

NexOptic Technology Corp.
Paul McKenzie, President & CEO

Spectrum Optix Inc.
John Daugela, President & CEO

OTCQB: NXOPF
TSX-V: NXO
Frankfurt: E301
Berlin: E301

Forward Looking Statements

This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its technology, the development of the prototype, the potential applications of Spectrum's technologies and the technology's potential market impacts. The reader is cautioned that forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Forward looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Companies operate and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the Companies' technologies are at an early stage and additional work will be required to confirm potential applications and feasibility of Spectrum's technologies; potential applications are based on limited studies and may not be representative of the broader market; the risk that the prototype may not achieve results expected by the Companies; the Companies may not be able to commercialize their technology even if the prototype is successful; NexOptic may not have access to necessary financing on acceptable terms or at all, including, in order to exercise the options under NexOptic's formal agreement with Spectrum and its shareholders or the conditions to NexOptic's options to acquire Spectrum shares may not be otherwise satisfied; and other risks inherent with the patent process, transactions of this type and the business of the Companies. Such forward looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, NexOptic is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • NexOptic Technology Corp.
    Paul McKenzie
    President & CEO
    Look@NexOptic.com
    +1 (604) 669-7330
    www.NexOptic.com

    Spectrum Optix Inc.
    John Daugela
    President & CEO
    +1 (604) 669-7330