VANCOUVER, BC–(Marketwired – November 20, 2017) – NexOptic Technology Corp. (“NexOptic”) (OTCQX: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN: E301)
For the audio version of today’s news release please visit https://nexoptic.com/news/
NexOptic Technology Corp. (“NexOptic”) (OTCQX: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN: E301) is pleased to announce that it has engaged NewDealDesign of San Francisco, California, a global leader in strategic technology design, to aid the Company in developing its first consumer product for the sport optics and outdoor recreation markets. NexOptic’s first consumer product will be based on the Company’s innovative Blade Optics™ lens technologies and modern electronic interfaces.
NewDealDesign, led by its Founder and President Gadi Amit, is the strategic technology design firm behind some of the most innovative and market-winning products created over the last two decades. The team integrates cutting-edge technology, culture, and physical and digital experiences for the world’s top brands like Intel, Microsoft, Google, Fitbit, Comcast and many more.
Since its founding in 2000, NewDealDesign has received over 100 design awards, including Fast Company Magazine’s Most Innovative Design firm of 2016. The studio has produced some of the most iconic work in its industry, including the entire line of Fitbit Fitness Trackers. It also worked on the Google ARA modular phone and the Lytro camera.
Gadi Amit, President and founder of NewDealDesign, stated: “I believe humans are curious and always strive to discover a better, more meaningful view of our world. With NexOptic’s technology, we have the potential to transform the human experience of the outdoors and make it far more sharable, social and inclusive.”
In 2013, Michelle Obama presented NewDealDesign with the United States National Design Award for their unrelenting commitment to crafting delightful design in everyday tech objects. First launched at the White House in 2000 as an official project of the White House Millennium Council, the annual Awards program celebrates design in various disciplines as a vital humanistic tool in shaping the world, and seeks to increase national awareness of design by educating the public and promoting excellence, innovation, and lasting achievement.
Inaugural Outdoor Recreation Consumer Device
NexOptic’s first consumer product will incorporate a unique, compact form factor synonymous with Blade Optics™. The device is being designed to have broad ranging outdoor recreational applicability, suitable for enhancing activities such as hiking, fishing, sporting events, wildlife viewing and more. NexOptic’s first consumer product is intended to leverage the software interactions consumers expect from modern devices while incorporating a transformative optical product design and feel. With the new design, the Company plans to marry optical precision and novel features intended to eliminate the traditional pain points for sport optics users of targeting and spotting.
As previously reported in 2016, NexOptic believes the sport optics market, in addition to mobile devices, are ideal initial target markets for the Company’s disruptive Blade Optics™ lens technologies; and the Company believes this segment has tremendous growth potential given the increased demand for connected devices and numerous applications for long range imaging.
In April of this year, The Outdoor Industry Association reported: “In 2016, nearly half of all Americans – 48.6% – reported participating in at least one outdoor activity. That equates to 144 million participants, who went on a total of 11 billion outdoor outings.”
NewDealDesign has been retained by NexOptic to conceive, design, and assist in delivering to market the innovative inaugural product for Blade Optics™. NewDealDesign will bring their integrative approach to strategy, design, engineering, product experience, and branding. NexOptic will own 100% of the finished product and its related IP developments.
“We are designing our first consumer product for the broad spectrum of outdoor activities,” stated John Daugela, CEO of NexOptic. “We intend to create a product that has applicability for the hiker, hunter, fisherman, sports fan, wildlife observer and more.” He added: “There is a vast addressable market opportunity here for Blade Optics™ and its long-range viewing capabilities. Our goal is to equip modern outdoor enthusiasts with an innovative product that transforms the way they see, learn, and connect with the world.”
In tandem with the development of its first commercial product, NexOptic continues to develop its mobile device lens stack design, intended for the smartphone marketplace (please see the Company’s October 7, 2017 news release for further information). A follow up news release is expected to be issued by the Company in the near term.
Stock Option Grant
NexOptic also reports that it has granted an aggregate of 1,610,000 stock options to employees, Directors, and consultants having an exercise price of .15 and a term of five years.
About NexOptic Technology Corp.
NexOptic is developing technologies relating to imagery and light concentration applications. Utilizing Blade Optics™, its suite of optical technologies, the Company aims to increase aperture sizes within given depth constraints of various imaging and non-imaging optical applications. Blade Optics™ refers to NexOptic’s lens designs, algorithms and mechanics which vary from patented, patent-pending and includes all of the Company’s intellectual property and know how.
Earlier this year, NexOptic completed its proof-of-concept digital telescope prototype that utilizes a patented Blade Optics™ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Blade Optics™ and its potential to serve as a platform to be used in various optical applications.
Benefits of Blade Optics™ Technology
NexOptic believes that Blade Optics™ has the potential to breakdown many of the limitations associated with conventional lens stacks:
- Aperture size: Blade Optics™ may allow the aperture-to-depth ratio to be increased in depth-limited optical devices to permit increased resolution compared to conventional optical devices with similar depth.
- Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging devices.
NexOptic trades on the OTCQX under the symbol “NXOPF,” on the TSX Venture as “NXO,” on Frankfurt as “E301” and Berlin as “E301.” More information is available at www.nexoptic.com.
On behalf of the Boards of Directors
NexOptic Technology Corp.
John Daugela, CEO & Director
+1 (604) 669 – 7330
OTCQX: NXOPF
TSX-V: NXO
Frankfurt: E301
Berlin: E301
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, new products and designs, the potential applications of the Company’s technologies and its potential markets. 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 Company operates and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the Company’s technology is at an early stage and additional work will be required to confirm potential applications and feasibility of its technologies; the Company may not be able complete the prototypes and designs as currently expected; potential applications of the Company’s technology are based on limited studies and may not be representative of the broader market; the risk that prototypes and designs may not achieve expected results; the Company may not be able to commercialize its technology; the Company may not have access to necessary financing on acceptable terms or at all; and other risks inherent with the patent process, transactions of this type and the business of the Company. Such forward-looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, the Company 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.
NexOptic Technology Corp.
John Daugela
President & CEO
+1 (604) 669-7330