Mr. Evan Gappelberg reports

NEXTECH AR ANNOUNCES CLOSING OF $3,000,000 MILLION PUBLIC OFFERING OF UNITS

Nextech AR Solutions Corp. has closed its previously announced marketed public offering of units at a price of 83 cents per unit of the company for aggregate gross proceeds of approximately $3-million. The Offering was led by Research Capital Corporation as the sole agent and sole bookrunner (the "Agent").

Each Unit is comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant"). Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $1.03 for a period of 48 months following closing of the Offering.

The Company has granted to the Agent an option to increase the size of the Offering by up to an additional number of Units, and/or the components thereof, that in aggregate would be equal to 15% of the total number of Units to be issued under the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the Offering. In connection with the Offering, the Company issued an aggregate of 253,011 compensation options to the Agent, each exercisable to acquire one Unit at an exercise price of $0.83 for a period of 48 months.

The net proceeds from the Offering will be used for working capital and general corporate purposes.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

About Nextech AR Solutions Corp.

Nextech AR Solutions (OTCQX:NEXCF) (CSE:NTAR) (FSE:EP2) is a diversified augmented reality, AI technology company that leverages proprietary AI to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. The company develops or acquires what it believes is disruptive technology and once commercialized spins them out as stand alone public companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.

On 10/26/2022, Nextech AR completed its first spin-out of an augmented reality wayfinding solution company called ARway. 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 (CSE:ARWY), in USA on the (OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65).

On 12/14/2022, Nextech AR announced its proposed second spinout of Toggle3D, an artificial intelligence (A) powered 3D design studio, to compete with Adobe. Toggle3D is expected to be public in the first half of 2023.

We seek Safe Harbor.