Mr. Evan Gappelberg reports

NEXTECH3D.AI NAME CHANGE NOW OFFICIAL AS COMPANY ENTERS THE AGE OF AI

Nextech AR Solutions Corp. has changed its legal name from Nextech AR Solutions to Nextech3D.ai Corp., effective as of the date hereof. The common shares of the company, giving effect to the name change, are expected to commence trading on the Canadian Securities Exchange and the OTCQX at the open on Wednesday, Oct. 4, 2023, under the existing stock symbols of NTAR (CSE) and NEXCF (OTCQX).

First announced in March, 2023, the company effected the business name registration of Nextech3D.ai with the applicable corporate regulatory authorities.

The company believes this name change better reflects its current technology and business direction. Nextech3D.ai's generative AI (artificial intelligence) technology is considered a key competitive advantage, playing a vital role in propelling the company toward achieving positive cash flow. This official name change marks a significant milestone in the history of Nextech3D.ai and its portfolio of affiliated companies, including ARway.ai and Toggle3D.ai, which are well positioned to capitalize on the burgeoning emerging market, striving for profitability in this new era of artificial intelligence.

As recently announced, the company is moving to high-scale production. In preparation, it has established Nextech3D Solutions India Pvt. Ltd. which, in addition to the AI, is anticipated to increase profitability and reduce labour costs starting in Q4 2023. This strategic transition is anticipated to reduce expenses and significantly enhance the company's profitability and performance as it rolls out its AI solution. The company is gearing up for a record Q4 and record 3-D model growth in 2024.

The shift to India is anticipated to result in a substantial increase in cash flow for Nextech3D.ai, beginning in Q4 2023. This will be achieved through the streamlining of production processes and leveraging cost-effective resources available in the region. By implementing these strategies and other relevant initiatives, the company is strategically positioning itself for improved profitability in a continuously evolving market landscape. This strategic pivot aligns seamlessly with Nextech3D.ai's dedication to providing top-notch 3-D modelling and augmented reality (AR) solutions, all while maintaining a strong focus on profitability and fiscal responsibility for the benefit of its esteemed shareholders.

Evan Gappelberg, chief executive officer, and Hareesh Achi joined Proactive Investors to discuss the news -- watch on-line.

Investor livestream details

Join us:  Today, Thursday, Sept. 28, 2023

Topic:  Nextech3D.ai the future of scaling 3-D models in India and AI

Time:  12 p.m. ET (9 a.m. PT)

Presenter:  Mr. Gappelberg (founder and CEO) and Mr. Achi (head of product operations)

Access the livestream on YouTube.

The company has also granted 300,000 stock options to a company officer. The options vest over three years, at a price of 26 cents per share, being the closing price of the last trading day prior to the date of grant. All options were granted in accordance with the company's stock option plan.

Recent news:

• Nextech3D.ai Mr. Gappelberg, CEO, to present at Emerging Growth Conference Oct. 5, 2023;
• Nextech3D.ai establishes Nextech3D Solutions India as it moves to high-scale 3-D model production ahead of record demand;
• Nextech3D.ai announces hire of Mr. Achi, former Microsoft and Meta executive, to manage its 3-D modelling AI productivity.

The public company CEO experience podcast

Nextech3D.ai has recently released "The public company CEO experience podcast," featuring Mr. Gappelberg, a highly accomplished three-time public company CEO and serial entrepreneur. The podcast offers listeners an exclusive behind-the-scenes look into the dynamic life of a public company CEO with valuable insights, while also discussing trending topics and providing business updates on Nexech3D.ai, Toggle3D.ai and ARway.ai.

About Nextech AR Solutions Corp.

Nextech AR Solutions is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence to craft immersive 3-D experiences at scale for e-commerce. The company's primary focus lies in creating high-quality 3-D WebAR photorealistic models for Amazon and various other on-line retailers. Nextech has adopted a unique approach to creating shareholder value beyond its operating business of creating 3-D models.

The company also develops or acquires disruptive AI technologies, which are subsequently spun out to shareholders as stand-alone public companies. This spin-out strategy allows Nextech to issue stock dividends to its shareholders while maintaining significant ownership in the public spinout, without dilution to the parent company.

Notably, Nextech successfully spun out ARway Corp., its spatial computing platform, as a stand-alone public company on Oct. 26, 2022. The company retains a 49-per-cent stake with 13 million shares in ARway while distributing four million shares to Nextech shareholders.

Similarly, Nextech accomplished its second spinout launching Toggle3D.ai Corp., an AI-powered 3-D design studio aimed at competing with Adobe. The company retains a 44-per-cent stake with 13 million shares in Toggle3D.ai.

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