InvestmentPitch Media Video Discusses Nextech AR Solutions’ Planned IPO Spinoff of its 3D Design Studio, Targeting the Multi-Billion Dollar Computer Aided Design Market
VANCOUVER, British Columbia, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Nextech AR Solutions Corp. (OTCQB:NEXCF) (CSE:NTAR) (FSE:N29), a Metaverse company and leading provider of augmented reality experience technologies, wayfinding technologies and 3D modeling services, plans to spinoff its Toggle3D and associated assets to a subsidiary, with an IPO exchange listing planned for early 2023. Current shareholders will receive shares of the new company, following a plan of arrangement, which is subject to final tax and other legal considerations.
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company along with video comments from Nextech AR’s CEO, Evan Gappelberg. The video is available for viewing on “” and on “”. If these links are not enabled, please visit and enter “Nextech” in the search box.
This follows the highly successful spin out of ARway Corporation in October, which traded as high as $2.95. With ARway currently trading at $2.00, Nextech’s holdings of 13 million shares of ARway are also contributing about $26 million to Nextech’s market capitalization.
Launched in September, Toggle3D is an AR enhanced standalone web application which means the user can access everything on the browser and start designing instantly. No desktop downloads involved, no updates to keep track of, and no system requirements to worry about. All the templates are organized into project panels that a user can access anywhere and seamlessly navigate. This enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences without any technical or 3D design knowledge.
The company believes that Toggle3D is the first platform of its kind, and this break-through SaaS product is a potential game changer for the manufacturing and design industry, as it provides a viable solution to convert large CAD files into lightweight 3D models at affordable prices and at scale.
According to a recent report by Research and Markets, the world’s largest market research store, the global computer aided design market is expected grow from US$9.89 billion in 2022 to US$17.47 billion by 2030, a compound annual growth rate of 6.9%.
The shares are trading at $0.97. For more information, please visit the company’s website at . Investor Relations is handled by Lindsay Betts, who can be reached at 866-274-8493 Ext 7201 or by email at .
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Disclaimer
The information in this Investmentpitch Media Ltd video is for the viewers information only. Nextech AR Solutions has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
