An anonymous director reports

NEXOPTIC EDGES CLOSER TO COMMERCIALIZATION

Nexoptic Technology Corp. is nearing the point of first revenue. Nexoptic Technology and Pristine Surgical LLC are in an exclusive SaaS (software as a service) model partnership whereby Nexoptic's artificial-intelligence-powered imaging technology is licensed for use into Pristine's single-use endoscopic visualization platform called Summit. Summit is a single-use surgical arthroscope designed to make more efficient, consistent and safe endoscopy. Nexoptic's ALIIS (all-light intelligent imaging solutions) provides an important AI image enhancement to optimize the surgeon's 4K surgical view. Summit is delivered in single-use, sterile packaging; is simple to set up; and improves predictability and workflow; and its transparent pricing model reduces costs for ambulatory surgery centres (ASCs). Summit also includes a proprietary cloud-based software -- Pristine Connect -- allowing for seamless video capture, automated inventory management and a growing portfolio of value-added services.

Pristine Surgical received its FDA (U.S. Food and Drug Administration) 510(k) clearance for Summit, the world's first 4K single-use surgical arthroscope in January, 2023, completed its first-in-human procedure in April, 2023, and began its limited market release in the United States shortly thereafter.

The strength of revenue from Nexoptic's perspective will be predicated upon the number of surgical centres that incorporate Summit into their surgical procedures.

Pristine Surgical anticipates expanding into a broader portfolio of rigid and flexible endoscopes, totalling 125 million procedures worldwide each year.

Initial licensing revenues to Nexoptic are dependent on the success of Pristine Surgical's sales of Summit. There can be no assurances of commercial success or profitable operations.

Nexoptic also wishes to report that it continues to expand its U.S. patent-protected portfolio specific to ALIIS and NexCompress by taking necessary steps to expand its intellectual property protections into other key global jurisdictions.

Nexoptic elects to drop its Thor mineral claims, Nevada. BLM (Bureau of Land Management) fees to keep Nexoptic's Thor mineral claims in good standing were due at the end of August of this year. Nexoptic elected not to renew its Thor claims after further investigating U.S. President Joe Biden's proclamation on March 21, 2023, establishing the Avi Kwa Ame National Monument (see the company's management discussions and analyses for the quarters ended March 31, 2023, and June 30, 2023, respectively). The Avi Kwa Ame National Monument covers approximately 506,000 acres of the Mojave desert in southern Nevada and includes the entirety of the Thor project area. While the proclamation indicates the designation is subject to valid existing rights, which includes the Thor project, the company has determined that obtaining necessary drilling permitting is not possible at this time and it is possible that such permits may never be available. Concurrently with this determination, the company and Selten Metal Corp. have mutually determined to terminate the option agreement dated Dec. 15, 2021, as amended between the companies (see the company's releases dated Dec. 16, 2021, and Feb. 18, 2022).

NexCompress is patented and patent pending and is part of Nexoptic's broader ALIIS suite of artificial intelligence imaging applications. NexCompress is complementary to and in fact can supercharge existing Codec methods currently used by large video streaming companies like Netflix and others.

About Nexoptic Technology Corp.

Nexoptic is an innovative imaging AI company headquartered in Vancouver, Canada, with operations in Seoul, South Korea, offering world-leading patented and patent-pending AI solutions for imaging known as ALIIS. Nexoptic simultaneously influences the imaging and AI industries and is a preferred partner in the Nvidia partner network, a member of the Arm AI partner program and a member of the Qualcomm platform solutions ecosystem.

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