Nextech AR Solutions Corp. Announces Board and Management Changes

Nextech AR Solutions Corp. (“Nextech”or the “Company”) (NEO: NTAR.NE) (OTC: NEXCF) (CSE: NTAR) today announces changes to its Board of Directors and senior management team. Kashif Malik, Chief Financial Officer, is resigning from his role to pursue a new opportunity. The Company has initiated a search for a permanent Chief Financial Officer with the capabilities and qualifications to help accelerate the Company’s transformation. On an interim basis, Eugen Winschel, Nextech’s Chief Operating Officer, will assume the global finance leadership position in addition to his current responsibilities.

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“On behalf of Nextech, I would like to thank Kashif for his dedication and significant contributions over the last two years during which the Company met many milestones and enjoyed tremendous growth”

Nextech is also pleased to announce several new senior management appointments – listed below – designed to further align the continued development of the Company’s augmented reality (“AR”) portfolio and digital experience platform with its growing, global customer base. In addition, Paul Duffy, President and Head of the newly formed Company’s Entertainment Business Unit, is appointed Chairman of the Board of Nextech AR Solutions.

“On behalf of Nextech, I would like to thank Kashif for his dedication and significant contributions over the last two years during which the Company met many milestones and enjoyed tremendous growth,” said Evan Gappelberg, Founder and CEO of the Company. “I wish Kashif the very best in his future endeavors and also look forward to announcing our new CFO in due course.”

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“As a rapidly growing company, we continuously look for ways to improve our governance practices to ensure alignment with stakeholder interests. I’m very pleased to report that Paul Duffy – who has been with me from the very beginning of the Company – will now serve as Chairman of the Board in my stead. Paul’s vision for Nextech – and for the power of augmented reality in everyday life – is matched only by our own, and we will benefit from his leadership in this capacity.”

“Following a record first quarter, I cannot be more excited for the progress we are making this year in our overall business. Our bench strength in our global team and continued investment in innovation gives us the confidence to deliver on our near and long-term goals. We expect to achieve C$50 million in total revenue this year – with a more favourable revenue mix lumped into the second half of the year and especially the seasonally strong fourth quarter – while demonstrating the scalability of our platforms. The changes we announced today will help us realize our significant growth goals and continued AR leadership position for tomorrow and beyond.”

Other Key Appointments Include:

Chris Burton, Executive Vice President, Head of Global Sales

Chetwyn Rodrigo, Senior Vice President, Platform Development, Service & Support

Rob Christie, Senior Vice President, Product Innovation

Yau Boon Lim, Global Head of Ecosystem & Channel

Deta Constantine, Chief Human Resources Officer (CHRO)

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