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Nextech AR Solutions Corp
Symbol NTAR
Shares Issued 63,427,300
Close 2020-07-28 C$ 6.50
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Nextech appoints Inbar as director

2020-07-28 11:09 ET - News Release

Mr. Evan Gappelberg reports

ORI INBAR, AR PIONEER AND FOUNDER OF AUGMENTEDREALITY.ORG, TO JOIN NEXTECH BOARD OF DIRECTORS

Nextech AR Solutions Corp. has appointed Ori Inbar to its board of directors. Mr. Inbar is a recognized augmented reality (AR) expert, having been involved in the industry for over a decade as both a start-up entrepreneur and a venture capital investor through SuperVentures. With his long-term perspective and extensive industry relationships, he is uniquely positioned to help guide Nextech on its growth trajectory and identify potential acquisition opportunities.

Mr. Inbar comments: "I'm excited to lend my 14 years experience in the AR industry at the moment it's exploding to one of the few pure-AR companies that are public. Evan and team seem to be doing the right things -- and most importantly -- growing."

Evan Gappelberg, chief executive officer of Nextech, comments: "We are excited to attract one of the most experienced AR pioneers to represent shareholders as we start to scale our business. Ori has unparalleled contacts and experience within the AR industry which we intend to leverage to help guide the future growth of our company. With the AR industry growing at a very rapid rate and Apple and others soon to be released AR glasses on the horizon, having a resource like Ori is invaluable." He continues: "As Nextech continues to identify growth opportunities, both organically and through acquisitions, Ori's experience both as an AR technology founder and an investor will be crucial to reaching our long-term vision. He has been a valued adviser for the past year and now we welcome him to the board of directors and are looking forward to his help in creating shareholder value."

About Mr. Inbar

Mr. Inbar is the world's leading expert in augmented reality and has devoted the past 14 years to fostering the AR ecosystem. In 2009, Mr. Inbar was the co-founder and CEO of Ogmento (renamed Flyby Media -- acquired by Apple), one of the first venture-backed companies conceived to develop augmented reality games and tech. In 2012, Mr. Inbar founded AugmentedReality.org, a non-profit organization on a mission to advance augmented reality in order to advance humanity. AugmentedReality.org defined a moonshot goal to inspire one billion active users of augmented reality by 2020 (which is on track) and is the producing organization behind AWE, the world's largest AR and VR event in Silicon Valley, Asia and Europe. Mr. Inbar is a recognized speaker in industry events and a sought-after adviser for AR start-ups and initiatives. Previously, as senior vice-president of solution marketing for SAP's platform, Mr. Inbar was responsible for the positioning and marketing of SAP NetWeaver -- which under his leadership grew from a mere concept to a billion-dollar business for SAP. Prior to SAP, Mr. Inbar joined TopTier Software, as one of the first employees of this start-up. He led the development and introduction to the market of more than 15 Internet and business applications including the world's leading enterprise portal, which in 2001 was acquired by SAP for $400-million. As compensation for his board of director services, Mr. Inbar was issued 50,000 options that vest over three years at an exercise price of $6.65 per share.

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. Nextech has a two-pronged strategy for rapid growth including growth through acquisition of e-commerce businesses and growth of its omnichannel AR software-as-a-service platform called ARitize.

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