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NexOptic Announces Termination of Private Placement
NYSE - LSE
NexOptic Announces Termination of Private Placement
VANCOUVER, BC / ACCESS Newswire / March 12, 2025 / NexOptic Technology Corp. ("NexOptic" or the "Company") (TSX VENTURE:NXO)(FSE:E3O1) reports that further to its news releases of October 24, 2024 and November 7, 2024, the Company will not be proceeding with its previously disclosed private placement at this time. In addition, as a result of delays in commercializing its products, the Company retracts the guidance provided in its October 24, 2024 news release regarding its anticipated timing for realizing revenue, which was initially anticipated for Q4, 2024. NexOptic continues to expand its patent portfolio globally and to seek new customers and sources of revenue.
The Company is reviewing available financing opportunities that better reflect current market conditions.
What You Need to Know About NexOptic
NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada offering world-leading patented and patent pending AI solutions for imaging known as ALIIS™ (All Light Intelligent Imaging Solutions) and NexCompress.
For more information about NexOptic Technology Corp., please visit the Company's website at www.nexoptic.com
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans," "expects," "estimates," "intends," "anticipates," "believes" or variations of such words, or statements that certain actions, events or results "may," "could," "would," "might," "will be taken," "occur," or "be achieved." Forward-looking statements in this news release include, without limitation, NexOptic's expectations regarding the expansion of its patent portfolio globally, expectations relating to the acquisition of new customers and sources of revenue, expectations regarding the Company's ability to identify and pursue financing opportunities, and the Company's plans and expectations relating to its business generally. Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in NexOptic's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although NexOptic believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because 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.
On Behalf of the Board of Directors
Chief Executive Officer - Paul McKenzie
Tel: +1 (604) 669-7330 ext. 1
Email:[email protected]
SOURCE: NexOptic Technology Corp.
View the original press release on ACCESS Newswire
J.Campbell--SMC
