Nextech3D.AI Corp. Announces Closing of Share Issuance to CEO Evan Gappelberg

Rhea-AI Summary

Nextech3D.AI (NEXCF) has announced the completion of a share issuance of 21,046,338 common shares to CEO Evan Gappelberg. The shares were issued at CAD$0.065 per share to settle outstanding debt owed to the CEO. The issued shares are subject to a four-month holding period until June 7, 2025, in compliance with securities regulations. This share issuance is part of the company's strategy to align leadership interests with shareholders and promote long-term value creation.

Positive

• Debt settlement through equity issuance reduces cash obligations
• Increased management skin in the game through CEO share ownership

Negative

• Significant share dilution with 21,046,338 new shares issued
• Low share issuance price of CAD$0.065 indicates weak market valuation

TORONTO, ON / ACCESS Newswire / February 10, 2025 / Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), is pleased to announce the successful closing of the issuance of 21,046,338 common shares to its Chief Executive Officer, Evan Gappelberg, in consideration of outstanding indebtedness owing. The shares were issued at a deemed price of Cdn$0.065 per share and comprise part of Nextech3D.AI's continued strategy to align the interests of its leadership with those of the shareholders, driving long-term value and growth for the Company.

The shares issued to Mr. Gappelberg are subject to a four-month holding period in accordance with applicable securities regulations, ending June 7, 2025. This closing marks an important step in the Company's ongoing efforts to incentivize and retain top leadership talent while reinforcing the shared commitment to driving the business forward.

About Nextech3D.AI Corp.
Nextech3D.AI Corp. is a leading provider of 3D modeling and augmented reality solutions, creating innovative, scalable content for e-commerce, advertising, and beyond. Leveraging cutting-edge artificial intelligence and machine learning technologies, the Company empowers businesses with the tools to enhance customer engagement and drive growth.

About Nextech3D.ai

Nextech3D.ai is a leading AI-powered 3D modeling and augmented reality technology provider, serving e-commerce, advertising, and digital media industries. The company leverages AI to create immersive experiences, revolutionizing how brands engage with customers in the digital space.

For more information, visit Nextech3D.ai.

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https://www.sedarplus.ca

For further information, please contact:

Nextech3D.ai
Evan Gappelberg /CEO and Director
866-ARITIZE (274-8493)

About Nextech3D.ai

Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for manufacturers with CAD files and for E-COMMERCE merchants. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers with patented 2D-3D technology.

Forward-looking Statements The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws

SOURCE: Nextech3D.ai

View the original press release on ACCESS Newswire

FAQ

How many shares did Nextech3D.AI (NEXCF) issue to CEO Evan Gappelberg in February 2025?

Nextech3D.AI issued 21,046,338 common shares to CEO Evan Gappelberg.

What was the price per share for NEXCF's February 2025 share issuance to the CEO?

The shares were issued at a deemed price of CAD$0.065 per share.

When does the holding period end for NEXCF's February 2025 share issuance?

The four-month holding period for the issued shares ends on June 7, 2025.

Why did Nextech3D.AI (NEXCF) issue new shares to its CEO in February 2025?

The shares were issued to settle outstanding debt owed to CEO Evan Gappelberg and align leadership interests with shareholders.