VANCOUVER, BC--(Marketwired - September 19, 2016) -
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: E3O1) and Spectrum Optix Inc. of Calgary, Canada ("Spectrum") (and together with NexOptic, the "Companies") are pleased to report that, further to their joint news release dated July 14, 2016 announcing the commencement of trading of NexOptic's common shares on the OTCQB in the United States, NexOptic has subsequently received approval from The Depository Trust Company ("DTC") of New York, NY and is now DTC eligible.
DTC eligibility allows NexOptic shares to be more easily and economically transferred between brokerage accounts electronically within the United States. DTC is the largest securities depository in the world, providing clearing and settlement efficiencies for brokers, as well as various other services.
"Achieving DTC eligibility to simplify trading of NexOptic shares on the OTCQB market makes us accessible to an even broader range of investors and is expected to assist with our goal of increasing the liquidity and convenience of trading our shares within the U.S.," said Samantha Shorter, Chief Financial Officer of NexOptic Technology Corp.
In addition to the OTCQB, shares of NexOptic also continue to trade on the TSX Venture (Canada) and Frankfurt (Germany) stock exchanges.
About NexOptic Technology Corp.
NexOptic 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.
NexOptic trades on the OTCQB under the symbol "NXOPF," on the TSX Venture as "NXO," and on Frankfurt as "E301.F." More information is available at www.nexoptic.com.
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.
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:
- 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.
Spectrum is currently developing a proof of concept telescope prototype 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.
On behalf of the Boards of Directors
NexOptic Technology Corp.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
+1 (604) 669 - 7330
TSX VENTURE: NXO
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 POC, 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 POC development is at an early stage and additional work will be required to confirm potential applications and feasibility of Spectrum's technologies; the Companies may not be able complete the POC as currently expected; the potential applications and market assessments of the Companies are based on limited studies and may not be representative of the broader market; the risk that the POC may not achieve results expected by the Companies; 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 Spectrum and/or NexOptic. 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.