NexTech Sells Its Treasury Bitcoin Holdings and Other OTC Profit Books: NEXCF

VANCOUVER, British Columbia, January 22, 2021 (GLOBE NEWSWIRE) – NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (NEO: NTAR.NE) (CSE: NTAR) (FSE: N29), one of the leading virtual providers and publishers augmented reality (AR) technologies and services for 3D / AR advertising, eCommerce, education, conferences and events today announced that it had sold its Bitcoin ownership of approximately 130.187 Bitcoins and booked approximately $ 200,000 profit.

NexTech CEO Evan Gappelberg said, “Our investment in Bitcoin in the past was part of our capital diversification strategy aimed at maximizing long-term value for our shareholders. This sale reflects our awareness that something may have changed with Bitcoin which is considered a digital version of gold. The news that has emerged is that a critical bug known as ‘double spending’ may have occurred, which, if true, allows someone to spend the same Bitcoin twice, undermining faith in the system. If the system is built on scarcity and trust in the system, then ‘double spending’ would eliminate both – destroying the value store it was meant to be. In light of this potential outcome, I have decided to move to cash as this story is still developing. ”

Recent Company Highlights:

  • January 20, 2021: The Company announced that Microsoft Azure Cloud Services platform will be a standard offering across its virtual experience platforms and user apps enabling hyper-scalable, secure and immersive user events and applications.
  • January 15, 2021: The company has signed a renewal agreement with Poly with an initial value of $ 470,000 for a six-month term and the potential for additional revenue after the six months.
  • Q4 2020 Total Bookings of $ 7.3 Million + 275% growth over the same period last year
  • CEO Evan Gappelberg bought 250,000 shares. This purchase brings its shares purchased in 2020 to 1,279,885 common shares of NexTech.
  • The the launch of its innovative human marketing holographic AR marketing platform “Genie in a Bottle” and a new eCommerce store for its TruLyfe brand of human supplements.
  • Company he graduated from CSE and received approval to list his common shares with the NEO Exchange (“NEO”) advanced exchange.
  • It was announced that expand its services to the Asia-Pacific market after establishing a presence in Singapore. To support this expansion, NexTech has hired Yau Boon Lim, a technology industry veteran with over 25 years experience in strategy, planning, marketing, operations and business management for various industries in the Asia Pacific market . Lim has held leadership positions within global enterprise technology companies, driving marketing and strategies for blue chip global technology companies, including IBM where he led marketing management, Motorola where he was Head of Strategy and Planning , and SAP where he was Vice President of Marketing for the Asia Pacific market. Lim is based out of Singapore.
  • Coex selects NexTech as its hybrid virtual events platform partner. Coex is a global leader in Meetings, Incentives, Conferences and Events (MICE); it hosts over 200 in-house exhibitions and 3,000 meetings and events every year in Korea at the Coex convention and exhibition center. Coex also organizes numerous exhibitions throughout Korea and abroad, with international reach in Vietnam, Indonesia and China.
  • Achieved record Black Friday sales up 315% year-over-year across its AR eCommerce platform. With 2020 a year dominated by coronavirus, shoppers have shown that they will embrace the convenience and security of online shopping more than ever.
  • The Canadian Nephrology Society (CSN) has selected NexTech AR Virtual Experience Platform (VXP) to host its 2021 AGM, held May 10-13.
  • New collaborative streaming solution launched with AI and AR enhancements, which integrates with its existing Virtual Experience Platform (VXP) and its ARitize SaaS offerings.
  • Dr. David Cramb to his Board of Directors bringing its board to five members. Having this fifth board member allows the company to meet a NASDAQ requirement to be eligible for listing, which is pending.
  • Selected by TEDx Malmö for its first ever virtual event, held December 12, 2020 in Sweden.
  • Virtual concert inc Grammy nominated artist and a member of Migos, Offset, in association with the AXR + EXP concert series. The event was hosted via NexTech’s new AiRShow app.
  • The United Nations Educational, Scientific and Cultural Organization (UNESCO) selected NexTech Virtual Experience Platform (VXP) for its “High Level Futures Literacy Summit.”
  • Canadian Restaurants chose NexTech’s Virtual Experience Platform A platform (VXP) to transform the 2021 RC Show, held February 28-March 3, 2021, into a fully virtual experience. This is Canada’s largest food and hospitality service event, the RC Show showcases cutting-edge products, innovative people, and transformative ideas.

About NexTech AR
NexTech is one of the leaders of the fast-growing Augmented Reality Market it is estimated to grow from USD $ 10.7B in 2019 and is forecast to reach USD $ 72.7B by 2024 according to Market and Market Research; it is expected to grow at a CAGR of 46.6% between 2019 and 2024.

The company is pursuing four verticals:

Virtual Experience Platform (VXP): An advanced Augmented Reality and Video Learning Experience Platform for Events. VXP is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality into one secure platform to allow enterprises to create the most engaging event management and virtual learning experiences in the world. Automated closed captions and translations into over 64 languages. According to Grandview Research the global virtual events market in 2020 is $ 90B and is expected to reach more than $ 400B by 2027, growing at a 23% CAGR. With NexTech’s VXP platform augmented with reality, AI, end-to-end encryption, and built-in language translation for 64 languages, the company is well positioned to quickly take market share as the accelerating growth globally.

ARitize ™ For eCommerce: The company launched its SaaS platform for webAR in eCommerce in early 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, its ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘buy one click’.

ARitize ™ 3D / AR Advertising Platform: Launched in Q1 2020 the advertising platform will be the industry’s first end-to-end solution where the company will leverage its 3D asset creation into 3D / AR ads. In 2019, according to IDC, global advertising spending will be about $ 725 billion.

ARitize ™ Hollywood Studios: The studio is under development producing immersive content using 360 video, and augmented reality as the main exhibition platform.

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On behalf of the Board of NexTech AR Solutions Corp.
Evan Gappelberg
CEO and Director

For further information, please contact:

Evan Gappelberg

The NEO has not reviewed and accepts no responsibility for the adequacy or accuracy of this statement.

Some of the information contained herein may be “forward-looking information” under Canadian securities legislation. In general, forward-looking information can be identified using forward-looking terminology such as, “will”, “forward-looking” or variations of words and phrases or statements such that actions , specific events or consequences occur. . Forward-looking statements about the Company increase investor awareness based on the Company’s estimates and are subject to known and unknown risks, uncertainties and factors that could result in actual results, activity levels, performance or achievements NexTech may differ materially from those expressed or implied by such forward-looking statements or forward-looking information, including capital and other expenses. There can be no assurance that such statements will be accurate, as actual results and future events may be materially relevant to those predicted in such statements. Accordingly, readers should not rely too heavily on forward-looking statements and forward-looking information. NexTech will not update any forward-looking statements or forward-looking information incorporated by reference herein, except as required by applicable securities laws.