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Nextech AR CEO Evan Gappelberg Buys 250,000 Shares of Company Stock In Open Market Purchases
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Nextech AR Solutions Corp. (OTCQB: NEXCF) announced CEO Evan Gappelberg’s acquisition of 250,000 shares at an average price of $0.70 USD ($0.95 CAD), increasing his total ownership to 10,672,461 shares, representing 10.36% of the company. Gappelberg expressed optimism about the company's growth prospects, believing the current share price does not reflect the potential for upward movement. Nextech is focusing on augmented reality technologies and aims to be a key player in the expanding 3D market.
Positive
CEO Evan Gappelberg purchased 250,000 shares, signaling confidence in the company's future.
Total ownership increased to 10,672,461 shares, indicating strong insider investment.
Gappelberg expresses optimism about significant growth potential in 2023 and beyond.
Negative
None.
TORONTO--(BUSINESS WIRE)--
Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: EP2), a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies, wayfinding technologies and 3D model services for ecommerce today announced that CEO Evan Gappelberg (the “Acquirer”) has purchased a total of 250,000 shares (the “Subject Shares”) through open market buys with an average purchase price of $.70/ USD or .95 CAD per share. This purchase increases CEO Evan Gappelberg’s ownership to 10,672,461 common shares.
Nextech AR CEO Evan Gappelberg commented, “I continue to invest and buy Nextech shares because I’m extremely excited about our business prospects in 2023 and beyond, and I don’t believe that our current share price reflects the upside potential of our businesses. We have been building towards this moment in history where everything goes 3D for a long time, and I believe that Nextech is going to emerge as a KEY player in multiple 3D markets with lots of upside potential. He continued, “I'm very optimistic about our growth in 2023 and beyond. I’m investing today because I see many years of strong forward growth ahead for our businesses.”
The Acquirer acquired ownership and control of 250,000 Subject Shares in the open market. When added to its existing shareholdings of the Company (which consist of an aggregate of 10,422,461 common shares), the Acquirer’s total, post-acquisition holdings of common shares is 10,672,461 common shares, representing 10.36% of the 103,012,103 common shares issued and outstanding.
The holdings of securities of the Company by the Acquirer are managed for investment purposes, and the Acquirer and/or its joint actors could increase or decrease their respective investments in the Company at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor.
About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech AR is able to quickly, easily and affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech AR is in a unique position to meet the needs of the world’s biggest brands and all Metaverse contributors. To learn more about Nextech AR, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
On October 26, 2022 Nextech AR spun out its spatial computing platform, “ARway” as a stand alone public Company. Nextech AR retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake. ARway is currently listed on the Canadian Securities Exchange (CSNX:ARWY), in USA on the (OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65). ARway Corp. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking. To learn more about ARway, visit https://www.arway.ai/
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
