VANCOUVER, BC--(Marketwired - July 14, 2016) - NexOptic Technology Corp. ("NexOptic") (TSX VENTURE: NXO) (OTCQB: NXOPF) and Spectrum Optix Inc. ("Spectrum," and together with NexOptic, the "Companies") of Calgary, Canada announced today that the common shares of NexOptic commenced trading on the OTCQB Venture Marketplace under the symbol "NXOPF" effective at the market open on July 13, 2016. NexOptic's common shares continue to also trade on the TSX Venture Exchange and the Frankfurt Stock Exchange.
OTC Markets Group Inc., located in New York, N.Y., operates the world's largest electronic interdealer quotation system for broker-dealers to trade over 10,000 securities not listed on any other United States stock exchange. It is organized into three tiers varying but not limited to level of disclosure and share price: OTCQX, OTCQB and Pink Sheets.
North American and international investors can now trade and find news, current financial disclosure and real time level 2 quotes for NexOptic at www.otcmarkets.com.
Paul McKenzie, CEO of NexOptic stated today,
"By trading on the OTCQB, we've gained immediate access to a more expansive capital pool while providing all our current and future shareholders, particularly those residing in the United States, easier trading flexibility and accessibility to NexOptic's common shares."
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.
About Spectrum Optix Inc.
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 the Patent Pending Blade Optics™ Technology
Blade Optics™ could breakdown many of the limitations associated with conventional, curved lens stacks:
- Aperture size: Blade Optics™ has the potential to help significantly reduce the lens stack depth to aperture ratio for several imaging verticals. This could allow for greatly increased aperture sizes without increasing the depth of the lens stack in many applications.
- Image quality: Fewer limitations on aperture size means that image quality could be much improved.
- 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
Tel: +1 604 669 7330
TSX VENTURE: NXO
For the audio version of today's news release please visit: www.nexoptic.com/investors/news/
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 prototype and the potential applications of Spectrum's technologies. 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, that: the ability of the Companies to complete the POC prototype as currently expected; the risk that the prototype may not achieve results expected by the Companies; they may not have access to financing on acceptable terms or at all in order to exercise the options under NexOptic's formal agreement with Spectrum and its shareholders; it may not receive all necessary regulatory and shareholder approvals; 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 development of new technologies or 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.