Nextech AR Closes CAD $10 Million Private Placement with Institutional Investor

Jan 25, 2022

Nextech+AR+Solutions+Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), a diversified leading provider of augmented reality (“AR”) experience technologies is pleased to announce that it has closed its previously announced private placement of its common shares (“Common Shares”) and warrants to purchase Common Shares (“Warrants”) with a single institutional investor for gross proceeds of approximately CAD $10 million (the “Private Placement”). Pursuant to the Private Placement, the Company issued 8,130,082 Common Shares and Warrants to purchase up to an aggregate of 8,130,082 Common Shares at a purchase price of CAD $1.23 per Common Share and associated Warrant. Each Warrant entitles the holder to purchase one Common Share at an exercise price of CAD $1.54 for a period of three years following the issuance date. H.C. Wainwright & Co. acted as the exclusive placement agent for the Private Placement. The Company has paid an aggregate cash commission of CAD $800,000.07 and issued an aggregate of 650,407 broker warrants to the placement agent and its assignees, each entitling the holder to acquire one Common Share at an exercise price of CAD$1.5375 for a period of three years following the issuance date.

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