Mr. Evan Gappelberg reports

NEXTECH3D.AI ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT

Nextech3D.AI Corp. has closed the second tranche of its previously announced private placement pursuant to which it has issued an aggregate of 3,631,722 units at a price of 12 cents per unit, to raise aggregate gross proceeds of $435,806.

Each unit comprises one common share of the company and one common share purchase warrant, with each whole warrant exercisable to acquire one additional common share at a price of 17 cents for a period of 36 months from the date of issuance thereof.

An aggregate of 3,127,183 of the units issued in the second tranche were issued pursuant to National Instrument 45-106 -- Prospectus Exemptions in accordance with Part 5A thereof. The units offered under the listed issuer financing exemption are not subject to resale restrictions pursuant to applicable Canadian securities laws. There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. The balance of the units issued in the second tranche of the offering are subject to a statutory hold period expiring on March 25, 2024.

The net proceeds from the offering will be used for working capital and general corporate purposes. The company paid a finders fee of $22,080 to eligible registrants assisting in the first tranche of the offering, and issued an aggregate of 184,000 broker warrants to such registrants, with each broker warrant entitling the holder to acquire one share at 12 cents for a period of 36 months.

About Nextech3D.AI Corp.

The company is a diversified augmented reality, artificial intelligence technology company that leverages proprietary artificial intelligence (AI) to create 3-D experiences for the metaverse. Its main businesses are creating 3-D WebAR photorealistic models for the prime e-commerce marketplace as well as many other on-line retailers. The company develops or acquires what it believes are disruptive technologies 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 spinout.

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