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NexTech AR (OTC: NEXCF) To Acquire Work-At-Home Remote Virtual Events Webcasting Software Company

Coronavirus Driving Demand For Work-at-home Video Conferencing Software

NEW YORK and TORONTO, March 16, Mar 16, 2020 (GLOBE NEWSWIRE via COMTEX) — NexTech AR Solutions (NexTech) (otcqb:NEXCF) (NTAR)(N29), the leader in augmented reality for eCommerce and AR learning applications, is pleased to announce that it has signed a binding LOI to acquire remote video training, live streaming software company Jolokia; whose customers include, Merck, Toyota CBS, Polycom and others. The Jolokia platform generated $1mill USD in SaaS revenue for 2019.

The transaction will be an all stock purchase with an initial payment upon closing of 1 million shares in restricted stock priced at $1 USD ($1.38 CAD) with a 12 month earn out if certain revenue milestones are hit of an additional $4mill in restricted stock. The company is currently conducting its due diligence with an expectation of a closing in the next few.

With corporate meetings and events going virtual through online collaboration and web conferencing tools, NexTech has developed a method to seamlessly integrate 3D photo realistic holograms of people and products to these virtual events through its ARitize App. Whether you need to host a full-featured conference, a keynote for a major product announcement, a virtual booth … Read the rest