Mr. Evan Gappelberg reports

NEXTECH3D.AI ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT FOR $475,000

Nextech3D.AI Corp. has closed the first tranche of its previously announced private placement, pursuant to which it has issued an aggregate of 4.75 million units at a price of 10 cents per unit to raise aggregate gross proceeds of $475,000. The securities underlying the units issued on closing of the offering will all be subject to a four-month statutory hold period commencing on the date of issuance.

Each unit will be comprised of one common share of the company and one common share purchase warrant, with each whole warrant exercisable to acquire one additional share at a price of 15 cents for a period of 24 months from the date of issuance thereof, provided that if the daily volume weighted average trading price of the shares on the Canadian Securities Exchange exceeds 30 cents for 10 consecutive trading days, the company may accelerate the expiry date of the warrants to the date which is 30 days following the date upon which the company provides notice of such acceleration to the holders of the warrants.

The net proceeds from the offering will be used for working capital and general corporate purposes. The company will pay a cash finder's fee of 8 per cent to eligible registrants assisting in the offering, and issue 8 per cent brokers' warrants to such registrants, with each broker's warrant entitling the holder to acquire one share at 15 cents for a period of 24 months.

The offering remains subject to the receipt of all regulatory approvals, including the approval of the CSE. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 act) unless registered under the 1933 act and applicable state securities laws, or an exemption from such registration requirements is available.

The net proceeds from the offering will be used for working capital and general corporate purposes. The company paid a finder's fee of $5,600 to eligible registrants assisting in the first tranche of the offering, and issued an aggregate of 56,000 brokers' warrants to such registrants, with each broker's warrant entitling the holder to acquire one share at 15 cents for a period of 36 months.

About Nextech3D.AI Corp.

The company is a diversified augmented reality technology company that leverages proprietary artificial intelligence to create three-dimensional experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models as a Amazon ECP for 3-D models as well as many other online retailers. The company develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spinout.

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