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Nextech AR Announces Overnight Marketed Public Offering of Units for up to $3 Million

 Nextech AR Solutions Corp. is pleased to announce that it has entered into an agreement with Research Capital Corporation as sole agent and sole bookrunner (the “Agent”), in connection with an overnight marketed public offering of units of the Company (the “Units”) for gross proceeds of up to $3,000,000 (the “Offering”).

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The final pricing of the Units and the number of Units to be sold pursuant to the Offering will be determined in the context of the market.

Each Unit shall be comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant of the Company (a “Warrant”).

The Company has granted to the Agent an option to increase the size of the Offering by up to an additional number of Units, and/or the components thereof, that in aggregate would be equal to 15% of the total number of Units to be issued under the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the Offering.

The net proceeds from the Offering will be used for working capital and general corporate purposes.

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The closing of the Offering is expected to occur on or about January 31, 2023 (the “Closing”), or such other earlier or later date as the Agent and Company may agree upon. Closing is subject to the Company receiving all necessary regulatory approvals, including any requisite approval of the Canadian Securities Exchange (the “Exchange”) to list the Common Shares and the Common Shares issuable upon exercise of the Warrants and the Agent’s broker warrants, on the Exchange.

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The Company intends to file a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated March 21, 2022 (the “Shelf Prospectus”) following pricing of the Offering with the securities regulatory authorities in each of the provinces and territories of Canada (except Quebec). Copies of the Shelf Prospectus and the Prospectus Supplement to be filed in connection with the Offering, can be found on SEDAR. The Shelf Prospectus and the Prospectus Supplement will contain, important detailed information about the Company and the Offering. Prospective investors should read the Prospectus Supplement and accompanying Shelf Prospectus and the other documents the Company has filed on SEDAR at before making an investment decision.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

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