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NEW YORK and TORONTO, June 03, 2020 (GLOBE NEWSWIRE) — NexTech AR Solutions (the “Company” or “NexTech”) (OTCQB:NEXCF) (CSE:NTAR) (FSE: N29), an arising baton in aggrandized absoluteness for eCommerce, AR acquirements applications, and basic contest is admiring to advertise that it has accomplished almanac acquirement and gross accumulation for the ages of May 2020. Both acquirement and gross accumulation showed affecting increases in May. Notably, compared to May 2019, the company’s acquirement added 169% to $1,300,000 while gross accumulation grew 290% to $800,000 apery the accomplished acquirement and gross accumulation anytime accomplished in a distinct month.
Kashif Malik, CFO of NexTech AR Solutions commented “We are battlefront on all cylinders and accepting our best ages of acquirement anytime speaks to our complete business action and model. I am acutely appreciative of the aggregation and we are aloof accepting started.”
Evan Gappelberg, CEO of NexTech AR Solutions comments “I’m aflame to address almanac numbers for the ages of May and I am decidedly aflame that we were able to accomplish $1,300,000 in sales in aloof one month, hitting a new aggregation high. During the ages of May, we saw an dispatch in sales advance above all our offerings. The address and charge for our basic contest platform, our aggrandized absoluteness solutions and e-commerce has never been stronger and we see that trend continuing. He continues, “With 100% of alive contest annulled our anew acquired basic contest belvedere InfernoAR has absolutely taken off in a big way and looks to abound badly in Q2, 2020 and beyond. In adjustment to accommodated the address we are alive overtime, acquire assassin two new sales reps and are planning to appoint more. Address is advancing from above a avant-garde spectrum including; Universities, Sports teams, Religious institutions and bunch companies”.
Unlike video appointment platforms like Zoom, WebEX, Teams and others, InfernoAR can host ample calibration contest from 1,000-1,000,000 or added with basic lobbies, adviser halls, alive keynotes, awards ceremonies, science labs, alike custom holographic artefact displays. The allowances and ROI are bright with bargain costs for travel, aliment and abode additional the immersive attributes of the company’s aggrandized absoluteness solutions including; 3D booths, AR artefact demos, 360 amount video portals, a accompaniment abounding featured white characterization AR app for iOS/Android creating a one of a affectionate basic acquaintance like no other.
NexTech acerb believes that basic contest will abide to see a billow in advance above the communicable apprenticed time we are currently experiencing. “We may acquire accelerated bristles to seven years account of acceptance behavior,” said Wayne Kurtzman, analysis administrator at IDC. “Everyone was affected to do a seven year plan in a few weeks”. According to All-around Bazaar Insights the video appointment bazaar will hit $50 billion by 2026 up from $14 billion in 2019. Approaching advance will appear from organizations that had never accomplished basic contest before, but acquire now had the acquaintance and will abide to use basic contest for its amount savings, immersive attributes and accessibility in business and communications.
The aggregation will address its Q2 banking after-effects for the aeon April-June in August of 2020.
Recent Aggregation Highlights in 2020:
As allotment of the company’s banal advantage plan the aggregation issued 200,000 3 year options exercisable at $2.28/share.
About NexTech AR Solutions Corp.
NexTech is one of the leaders in the rapidly growing AR industry, estimated to hit $120 billion by 2022, according to Statista. NexTech, the aboriginal about traded “pure-play” AR company, began trading on the CSE on October 31st, 2018. NexTech has a two-pronged action for accelerated advance including advance through accretion of eCommerce businesses and advance of its omni-channel AR SaaS belvedere alleged ARitize™.
The aggregation is advancing four verticals in AR.
ARitize™ For eCommerce; The aggregation launched its technologically avant-garde webAR for eCommerce aboriginal in 2019 and has been rapidly signing up barter assimilate its SaaS platform. Barter accommodate Walther Arms, Wright Brothers, Mr. Steak, and Budweiser. NexTech has the aboriginal ‘full funnel’ end-to-end eCommerce band-aid for the AR industry including its 3D artefact capture, 3D ads for Facebook and Google, ‘Try it on’ technology for online apparel, 3D and 360-degree artefact views, and ‘one bang buy’.
ARitize™ University; accepting launched in June 2019, the app-based band-aid allows companies and educational establishments to advantage all of their absolute 2D assets – YouTube videos, PDF documents, PowerPoint decks, images, etc. – and again bury immersive 3D-AR adventures on top of that agreeable for an alternate training acquaintance that drives productivity.
ARitize™ Hollywood Studios; the flat has created a proprietary ball area for which it is bearing immersive agreeable application 360 video, and aggrandized absoluteness as the primary affectation platform.
ARitize™ 3D-AR-360 Announcement Platform: launched in Q1 2020 the ad belvedere will be the industry’s aboriginal end-to-end band-aid whereby the aggregation will advantage its 3D asset conception into 3D, 360, AR ads. In 2019, according to IDC, all-around announcement absorb will be about $725 billion.
To apprentice more, amuse chase us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or appointment our website: https://www.nextechar.com.
On account of the Board of NexTech AR Solutions Corp.”Evan Gappelberg”CEO and Director
For added information, amuse contact:
Evan GappelbergChief Executive [email protected]
The CSE has not advised and does not acquire albatross for the capability or accurateness of this release.
Certain advice independent herein may aggregate “forward-looking information” beneath Canadian balance legislation. Generally, advanced advice can be articular by the use of advanced analogue such as, “will be”, “looking forward” or variations of such words and phrases or statements that assertive actions, contest or after-effects “will” occur. Advanced statements apropos the Aggregation accretion investors acquaintance are based on the Company’s estimates and are accountable to accepted and alien risks, uncertainties and added factors that may account the absolute results, levels of activity, achievement or achievements of NexTech to be materially altered from those bidding or adumbrated by such advanced statements or advanced information, including basic expenditures and added costs. There can be no affirmation that such statements will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing in such statements. Accordingly, readers should not abode disproportionate assurance on advanced statements and advanced information. NexTech will not amend any advanced statements or advanced advice that are congenital by advertence herein, except as appropriate by applicative balance laws.
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