Nextech3D.ai Provides Update on Toggle3D.ai

Rhea-AI Summary

Nextech3D.ai (OTCQX:NEXCF) announced on November 7, 2025 that it has terminated the April 4, 2025 letter of intent to sell up to 80% of Toggle3D.ai (CSE:TGGL) to TQG Technologies because the parties could not finalize the transaction within applicable timelines.

No deposit was paid and no Toggle common shares were sold. Toggle remained a pre-revenue business that continued to incur development and maintenance costs; management has placed Toggle on care and maintenance and prioritized preserving cash while exploring strategic alternatives.

Positive

• Terminated LOI preserves Nextech cash resources
• Management prioritized cash preservation after failed sale
• Company will continue exploring strategic alternatives for Toggle

Negative

• LOI to sell up to 80% of Toggle terminated (April 4, 2025 LOI)
• No deposit received and no Toggle shares were sold to TQG
• Toggle remained pre-revenue and incurred ongoing development costs
• Toggle placed on care and maintenance, reducing operational activity

TORONTO, ON / ACCESS Newswire / November 7, 2025 / Nextech3D.AI (the "Company" or "Nextech") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2) provides an update today at the request of staff of the Ontario Securities Commission in connection with a continuous disclosure review, to announce that it has terminated its previously announced letter of intent (the "LOI") dated April 4, 2025 to sell up to an 80% equity interest in its spin-out subsidiary, Toggle3D.ai Inc. (CSE:TGGL) ("Toggle") to TQG Technologies ("TQG"). The parties were unable to finalize the proposed structure for the transaction in accordance with the applicable timelines, and accordingly, no deposit was paid to the Company nor were any common shares of Toggle sold by the Company to TQG.

Toggle has remained a pre-revenue company which did not achieve the expected commercial traction over the past year. Accordingly, it continued to incur development and maintenance costs without generating revenue. As a result, management has prioritized preserving cash resources and currently placed Toggle on care and maintenance. Toggle continues to seek opportunities to enhance shareholder value and consider various strategic alternatives and the Company will provide additional updates in due course.

For more details on Nextech's AI roadmap and related developments, visit: www.nextechar.com/investors

For more information, visit Nextech3D.ai.

Sign up for Investor News and Info - Click Here

For more information and full report go to https://www.sedarplus.ca

For further information, please contact:

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

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 Corp.

View the original press release on ACCESS Newswire

FAQ

What did Nextech3D.ai (NEXCF) announce on November 7, 2025 about Toggle3D.ai (TGGL)?

Nextech announced it terminated the April 4, 2025 LOI to sell up to 80% of Toggle to TQG because the parties could not finalize the transaction.

Did Nextech receive any deposit or sell Toggle shares to TQG under the LOI?

No. The company confirmed no deposit was paid and no common shares of Toggle were sold to TQG.

What is the operational status of Toggle3D.ai after the terminated LOI?

Toggle remains a pre-revenue entity, has continued to incur development costs, and is placed on care and maintenance while alternatives are pursued.

How does the LOI termination affect Nextech's near-term finances?

Management said it has prioritized preserving cash resources after the transaction failed to close.

Will Nextech provide further updates about Toggle3D.ai (TGGL)?

Yes. The company said it will provide additional updates in due course as it explores strategic alternatives.