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TICKERS: NTAR; NEXCF

Augmented Reality/Artificial Intelligence Firm Acquires E-Commerce Company
News Update

Source:

The deal should accelerate the launch of the firm's AR and AI technologies.

NexTech AR Solutions Corp. (NTAR:CSE;NEXCF:OTC) announced in a news release that it entered into an agreement to acquire AR Ecommerce LLC for 2 million common shares of NexTech stock. AR Ecommerce is an e-commerce firm that did about $2.65 million in business in 2018.

"With this acquisition we're not just offering AR [augmented reality] as a technology to others but using it ourselves to create the most robust AR/AI technology stack available in the market today," CEO Evan Gappelberg said in the release. The goal of NexTech is to "bring AR to the masses by creating an AR ecosystem featuring e-commerce solutions for websites, AR learning and education as well as AR live streaming for events."

In other news, NexTech launched its first Web-enabled AR product online, and generated $5,000 in one week. The company intends to launch 10 more such offerings on its site in the immediate term.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: NexTech AR Solutions. Click here for important disclosures about sponsor fees.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexTech AR Solutions, a company mentioned in this article.




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