VANCOUVER, British Columbia, Oct. 01, 2019 (GLOBE NEWSWIRE) — NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FRANKFURT: E3O1) announced it intends to amend the terms of certain NexOptic share purchase warrants originally issued on August 24, 2017, as part of a private placement (the “Warrants”). The Warrants expire on February 23, 2020.The Company wishes to reduce the exercise price of the Warrants from $1.50 to $0.45 subject to the approval of the TSX Venture Exchange. The amendment will require the incorporation of an accelerated expiry provision such that the remaining exercise period of the warrants will be reduced to 30 days if, for any 10 consecutive trading days during the unexpired term of such of the warrants, the closing price of the corporation’s common shares exceeds the amended exercise price by 25% or more (which would be a trading price of $0.56 per common share or higher), with the 30-day expiry period commencing on the day the corporation either: (i) disseminates a press release or (ii) sends a written notice to the holders of the warrants, advising of the commencement of the exercise period.About NexOptic Technology Corp.NexOptic is developing a suite of optical technologies that now includes AI, NexOptic can increase aperture sizes within given depth constraints of various imaging applications to improve diffraction-limits and resolution. NexOptic’s AI drastically reduces image noise and motion blur common in poor lighting environments. Besides enhancing image quality, NexOptic’s AI can be used to improve long-range image stabilization and image capture in otherwise difficult lighting conditions, As.an innovative optical development company, NexOptic wants to enhance the way we view the world around us. The Company is preparing to launch DoubleTake, its multi-award winning, reimagined binoculars designed to disrupt the growing outdoor recreation market. DoubleTake utilizes NexOptic’s high magnification lenses for a state-of-the-art digital experience. NexOptic is also working to commercialize its ground-breaking artificial intelligence (“AI”) for imaging as well as exploring opportunities for its innovative mobile lens designs. Utilizing Blade Optics™, the Company’s NexOptic’s lens designs, algorithms, and mechanics,in many instances vary from patented to patent-pending. More information is available at www.nexoptic.com.Media and Investor Enquiries
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