04:54:02 EDT Thu 24 Sep 2020
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Nextech AR Solutions Corp
Symbol NTAR
Shares Issued 63,427,300
Close 2020-07-20 C$ 6.70
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Nextech AR wins $40,000 deal with ICSOBA

2020-07-20 08:31 ET - News Release

Mr. Evan Gappelberg reports


ICSOBA (the International Committee for Study of Bauxite, Alumina & Aluminium) has chosen Nextech AR Solutions Corp.'s InfernoAR for its 38th annual event Nov. 16 to Nov. 18 at a cost of $40,000, with the potential for additional revenue from ScreenAR. ICSOBA unites industry professionals representing major bauxite-, alumina- and aluminum-producing companies, technology suppliers, researchers and consultants from around the world. With the rapid rise in global demand for video and virtual events, the company is experiencing a surge in demand for its InfernoAR video conferencing and virtual events services.

With the company's recently announced new ScreenAR any virtual event can become engaging and have a one-of-a-kind immersive experience that everyone is craving today. With an initial launch price of $9,999 the potential for upselling ScreenAR and generating additional revenue is substantial even for a small event with 100 booths.

Pete Dunn, senior vice-president of sales, Nextech, comments, "I'm honoured that the International Committee for Study of Bauxite, Alumina and Aluminium (ICSOBA) has chosen InfernoAR to host their 38th annual international conference bringing together their global audience in an exciting new format." He continues, "I have already had several conversations with their chairman who sees the future of their annual events as hybrid. They have also introduced us to their close partners, the Aluminium Research Centre REGAL -- from the University Laval in Canada -- who have also made the decision to host their annual event for students using our InfernoAR platform."

Mr. Dunn further comments on the sales climate for InfernoAR: "In all my 21 years experience in high-level sales I have never seen anything like the demand I am currently witnessing for our virtual event solutions even as some countries are slowly opening up events -- the future is truly hybrid and to call the daily inquiries and lead flow insatiable is not doing it justice. Furthermore it's far more than just quantity, it's the absolute quality and calibre of the companies and organizations that I am speaking with and we are helping. Some truly mind-blowing global institutions across multiple industries."

Evan Gappelberg, chief executive officer of Nextech, comments: "We believe that having such a prestigious international organization as ICSOBA choose us over the competition validates our platform as one of the leading video conference virtual events platforms not just in North America but globally. InfernoAR is being chosen by more and more customers because of its full spectrum of offerings including end-to-end security encryption, interactive video, artificial intelligence and augmented reality all in one super secure platform." He continues, "with video being the new voice during this 'virtual gold rush' we will continue to push more interactive and immersive video-centric features such as ScreenAR which we see as a industry game changing innovation creating long-term value and sustainability for our business."

ICSOBA was formed in 1963 in Zagreb (Yugoslavia), and in the past half century it has become a well-recognized and truly international organization. The main objective of ICSOBA is to promote the exchange of ideas and results of the work from different fields of research related to bauxite exploration and mining, and alumina and aluminum production.

About InfernoAR

InfernoAR supports clients that require integration with enterprise systems, custom workflow, cognitive search and discovery, interactive features, and secure multi-CDN streaming in front of and behind the firewall. The platform services Fortune 500 businesses like Johnson and Johnson, Viacom, Polycom and others. It is supersecure with token authentication allowing the CDNs to reject serving videos to unauthorized users, by taking the JWT authentication to the edge security is pushed closer to the user and load is taken off the core application. InfernoAR has been providing top products and service in the video streaming space for over 10 years.

About Nextech AR Solutions Corp.

Nextech is one of the leaders in the rapidly growing AR industry, estimated to hit $120-billion by 2022, according to Statista. Nextech, the first publicly traded pure play AR company, began trading on the Canadian Securities Exchange on Oct. 31, 2018.

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