Nextech AR Prepares Map D For Rapid Growth in 2023; Hires Industry Leading Executives, Positioning To Lead The Global Events Industry

Rhea-AI Summary

Nextech AR Solutions Corp (OTCQB: NEXCF) announced significant growth potential with 26 new contracts in November for its Map D business, which is transforming into a leading Event Technology Company. The firm aims for triple-digit revenue growth in 2023 by leveraging its augmented reality and XR technologies. Key executive hires, including Melea Guilbault as CEO of Map D, bolster its strategy. The integration with ARway and Web 3.0 technologies enables enhanced event management solutions, capturing opportunities in the $50 billion events industry.

Positive

• 26 new contracts signed in November for Map D business, indicating strong market demand.
• Aiming for triple-digit revenue growth in 2023, highlighting ambitious growth strategy.
• Key executive hires expected to strengthen leadership and operational effectiveness.

Negative

• None.

Live Event Augmented Reality Wayfinding & XR Experiences Expected to Drive Triple Digit New Revenue Growth in 2023

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 is pleased to announce 26 new contracts in the month of November alone in it’s Map D business. In addition the Company has made key executive hires for Map D as it positions itself for triple digit growth potential in 2023. By leveraging augmented reality and XR experiences Map D is undergoing a transformation becoming a leading Event Technology Company and becoming an integral part of the Nextech Event Solutions brand.

Currently, Map D is a wholly owned subsidiary of Nextech AR Solutions. Over the past decade Map D has been one of the most popular self-serve event management tools among associations now utilized for any event format of all sizes from small gatherings to large-scale conferences. With simple navigation and a user-friendly interface, Map D helps reduce the time and effort necessary to manage events efficiently and effectively while transforming complex event production into a simplified experience.

“Our goal is to provide our customers with the most innovative event technology in the market," said Melea Guilbault, CEO of Map D. "These new partnerships and hires underscore our commitment to providing best-in-class solutions that enable our customers to create unforgettable experiences."

Evan Gappelberg, Nextech AR CEO commented, “We have always had plans for Map D to expand beyond just the association space and play a larger role in the $50 billion dollar event industry. It has taken 2 years of development work to get Map D, (now Nextech Event Solutions) ready to take on this huge opportunity and with Melea, her team and our technology we are now ready to take this challenge on.”

New Executive Hires

Melea Guilbault

In September, Nextech AR announced the appointment of Melea Guilbault as CEO of Map D. Melea brings more than thirty years of experience in high-growth companies inclusive of technology, pharmaceuticals, and community-based organizations, and brings extensive commercial, operational and executive management experience with companies such as private-equity backed Community Brands and Yourmembership and Fortune 500 Medtronic, Takeda & Bristol-Myers Squibb.

Vanessa LaClair, CAE, CMP

Vanessa LaClair is a leader in the association space, bringing deep domain and industry knowledge as a CAE (Certified Association Executive) and CMP (Certified Meeting Professional) and most recently serving as the Executive Director of the Empire State Society of Association Executives (ESSAE). Having been involved in association management and volunteer leadership for more than 20 years, Vanessa is able to help members be their best by building connections to knowledge, ideas, relationships, and marketplace opportunities.

At Map D, Vanessa will be focused on event solutions and community engagement, expanding our current market reach through training and development, building strategic partnerships and customer success initiatives.

Whitney Kendrick

Whitney Kendrick has joined the Map D team as VP, Product Growth & Marketing. With a background of almost two decades in B2B SaaS applications, platforms, marketing, and operations, she has built her network and career through social perseverance, trust and commitment. Whitney has cultivated partnerships and handled acquisitions with companies such as Web.com, ReachLocal, Gannett, ProSites, Marketing 360, Paychex.

At Map D, Whitney will be focused driving commercial success and growth through demand generation, packaging, and positioning, and to collect market insights to further enhance our product and sales capabilities.

Map D Transforming into a Event Technology Solution Provider

Integration with ARway and Web 3.0 Technology

Map D has integrated Nextech AR’s groundbreaking Web 3.0 technologies: ARway (Indoor Wayfinding), ARitize 3D (3D Models) and ARitize Holograms (AR Human holograms). These integrations enable Map D to bring its events and associations clients into the metaverse.

Announced in June, the Company began testing and gained early success with a massive breakthrough in scaling the creation of spatial maps for events, especially augmented reality (AR) wayfinding with the ARway platform. ARway’s technology will allow event show organizers to sell AR wayfinding to exhibitors as well as sponsorship opportunities, creating additional sources of revenue.

The ARway Platform has an unlimited number of use cases for augmenting physical spaces within the events industry: including, conventions, trade shows, conferences, corporate meetings, real estate, sports events and more. With value propositions spanning multiple industries and use cases, this opens Nextech’s 3D/AR technology solutions to new markets and provides a seamless integration with the events and association clients of Map D.

The Map D business has been gaining sales momentum in multiple categories as seen below in the number of contracts, renewals and partnerships signed over the last several weeks. 25 deals have been closed in the month of November, 2022 alone.

New Deals & Renewals

Event & Association Management Companies

• American Tradeshow Services (ATS) - 2023 MD Expo, NADC, HEAT
• Anthony J. Jannetti, Inc | 2023
• AMC | Meeting Management Group Inc - 2023 FHEA Trade Show and Educational Conference
• Midwest Shows, Inc.
• High Lifter Events | Rally (multiple shows)​

2023 New Events

• ISACA | Information Systems Audit & Control Association
• AAPC | American Academy of Professional Coders - HEALTHCON
• FHIMA | Florida Health Information Management Association - Annual Convention
• AWWA | PA 75th Annual Conference
• NACE | National Association of College and Employers |Conference & Expo
• IIABSC | Spring Conference
• SNAPA Annual Conference
• SCAV - Southeast Veterinary Conference
• The Institute of Internal Auditors | GAM, International Conference, and GRC
• National Apartment Association Diversity Leadership Program
• Apartment Association of Nebraska | Annual Trade Show
• Texas Society of Architects - 84th Annual Conference and Design Expo
• Home & Outdoor Living Expo
• Logic - ACI Alliance CI
• Clay County Fair
• TCS Toronto Waterfront Marathon Expo
• The DONNA Foundation
• Eriksberg Boat Show ​

2022 Q4 | Strategic Partnerships

• IAEE | Expo Expo | International Association of Exhibits & Exhibitors​
• TNSAE | Tennessee Society of Association Executives
• AENC | Association Executives of North Carolina (AENC)

About Map D

Map D is a self-serve event tech platform and management software solution, providing clients with an extensive set of features and tools for managing almost any kind of event you can imagine. Whether someone is looking for an easy way to sell floor plan space or services at trade shows, expos, or festivals or to manage speaker and schedule details during conferences or meetings, Map D does it all and updates in real time to make it easier to communicate with event goers. Map D is a tool that makes an event manager’s job easier by automating or crowd sourcing complicated logistics while simplifying the sales processes and adding new revenue opportunities. Most clients spend 2-4 hours on setting up their event in Map D, then the rest is automated so they can sit back and collect sales, or point event participants to a single web address for all the information they may need. Map D also can provide a companion native mobile app which in the future will double as a AR wayfinding app, for in-person events or serve as a self-contained virtual venue for attendees, exhibitors, sponsors, speakers, or anyone else participating in an event.

To learn more about Map D, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://mapdevents.com/

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005284/en/

For further information:

Investor Relations Contact

Lindsay Betts

investor.relations@Nextechar.com

866-ARITIZE (274-8493) Ext 7201

Nextech AR Solutions Corp.

Evan Gappelberg

CEO and Director

866-ARITIZE (274-8493)

Source: Nextech AR Solutions Corp.

FAQ

What new contracts did Nextech AR Solutions Corp secure in November 2022?

Nextech secured 26 new contracts for its Map D business in November 2022, indicating strong demand for its services.

What is Nextech AR's revenue growth strategy for 2023?

Nextech AR aims for triple-digit revenue growth in 2023 by leveraging augmented reality and XR technologies.

Who are the new executives hired by Nextech AR Solutions Corp?

Melea Guilbault was appointed CEO of Map D, and other executives like Vanessa LaClair and Whitney Kendrick were also hired to enhance operational focus.

How does Map D plan to integrate ARway and Web 3.0 technologies?

Map D integrates ARway's technologies to enhance event management solutions, allowing clients to capitalize on augmented reality wayfinding and sponsorship opportunities.

What is the market potential for Nextech AR's event technology solutions?

Nextech AR is targeting the $50 billion event industry with its innovative event technology solutions.