Nextech AR Announces CAD$5 Million Private Placement with Institutional Investors

Nextech AR Solutions Corp. (“Nextech” or the “Company”), a diversified leading provider of augmented reality (“AR”) experience technologies and services, is pleased to announce that it has entered into a securities purchase agreement for a private placement of its common shares (“Common Shares”) and warrants to purchase Common Shares (“Warrants”) with institutional investors for gross proceeds of approximately CAD$5 million (the “Private Placement”). Pursuant to the Private Placement, the Company will issue 3,030,304 Common Shares and Warrants to purchase up to an aggregate of 1,515,152 Common Shares at a purchase price of CAD$1.65 per Common Share and associated Warrant. Each Warrant will entitle the holder to purchase one half of one Common Share at an exercise price of CAD$1.92 per whole Common Share for a period of three years following the issuance date.

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H.C. Wainwright & Co. is acting as the exclusive placement agent for the Private Placement.

The net proceeds of the Private Placement will be used by the Company for working capital and general corporate purposes, including, without limitation, acquisitions of assets used in the Company’s business and strategic transactions and/or acquisitions. No securities were offered or sold to Canadian residents in connection with the Private Placement. The Private Placement is expected to close on or about November 3, 2021, subject to satisfaction of customary closing conditions.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”), or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to any U.S. person absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. United States” and “U.S. person” have the respective meanings ascribed to them in Regulation S under the U.S. Securities Act.

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