NexOptic Technology Corp. (“NexOptic”)(OTCQB: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN: E301) and Spectrum Optix Inc. of Calgary, Canada (“Spectrum,”) and together with NexOptic, the “Companies”) are pleased to announce that Mr. Stephen Petranek has joined the Board of Directors of NexOptic Technology Corp.
A widely-recognized technology futurist and award-winning author, Mr. Stephen Petranek is the former editor-in-chief of several respected scientific and financial publications. He is also Co-Executive Producer of the National Geographic mini-series “MARS”, which is based on, and inspired by, his book, “How We’ll Live on Mars,” published by Simon and Shuster and the TED Conferences. Petranek’s critically acclaimed book was partly a result of extensive conversations and interviews with Elon Musk, CEO of Space-X, and senior management and leading scientists at NASA.
Petranek is the former editor-in-chief of the world’s largest scientific magazine, Discover, and was the senior editor for sciences at Life Magazine. Earlier in his career Petranek was the editor of The Washington Post’s magazine and editor-in-chief of The Miami Herald’s Sunday magazine. Mr. Petranek is also a recipient of the prestigious John Hancock Award for Business and Financial Writing, considered by many to be the Pulitzer of financial writing.
Paul McKenzie, President, and CEO of NexOptic, commented:
Upon his appointment to NexOptic’s Board of Directors, Petranek stated:
Stock Option Grant
NexOptic also reports that it has granted an aggregate of 550,000 stock options to employees and consultants having an exercise price of $0.95 and a term of five years.
Further, and at the request of IIROC, NexOptic confirms that, other than as set forth herein, it is not aware of any material change in its operations or affairs that would account for recent increase in the market activity of its common shares. However, as previously disclosed, the Company and Spectrum Optix Inc. (“Spectrum”) continue to steadily advance their business strategy, including completing their proof of concept (“POC”) imaging prototype, which is in its final stages.
About NexOptic Technology Corp.
NexOptic is a publicly traded company, which has an option to acquire, in the aggregate, 100% of Spectrum Optix Inc., a private corporation. The Companies are, in essence, working as a single corporation at this time, with their respective CEOs sitting on each other’s boards of directors. Please see NexOptic’s news release dated November 18, 2014 for additional details regarding this relationship.
Spectrum is developing technologies relating to imagery and light concentration applications. Utilizing its patent-pending Blade Optics™ technology, which contains flat lenses, the company aims to disrupt conventional lens and image capture-based systems.
Benefits of Blade Optics™ Technology
The Companies’ believe that Blade Optics™ has the potential to breakdown many of the limitations associated with conventional, curved lens stacks, including:
- Aperture size: Allowing the aperture-to-depth ratio to be increased in depth-limited optical devices to permit increased resolution compared to conventional curved optical devices with similar depth.
- Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging devices.
Spectrum is currently developing a proof-of-concept telescope prototype that will utilize its Blade Optics™ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Spectrum’s Blade Optics™ technology and its potential to serve as a platform to be used in various optical applications. Please see the Companies’ joint press release dated May 25, 2016 for the latest progress report on this first of its kind prototype.
NexOptic trades on the OTCQB under the symbol “NXOPF,” on the TSX Venture as “NXO,” on Frankfurt as “E301” and Berlin as “E301.” More information is available at www.nexoptic.com.
On behalf of the Boards of Directors
NexOptic Technology Corp.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
www.NexOptic.com Look@NexOptic.com +1 (604) 669 – 7330
OTCQB: NXOPF
TSX VENTURE: NXO
Frankfurt: E301
Berlin: E301
Forward Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its technology, the development of the prototype, the potential applications of Spectrum’s technologies and the technology’s potential market impacts. The reader is cautioned that forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Forward looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Companies operate and are qualified in their entirety by the inherent risks and uncertainties surro
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
