- Nextech AR (NTAR) has entered into an arrangement agreement with its subsidiary 1000259749 Ontario Inc. and 1373222 B.C. Ltd.
- The agreement sets out the terms under which Nextech will spin out the ARway platform and associated assets to its subsidiary 1000259749 Ontario Inc.
- Nextech will receive 16,000,000 common shares of Spinco and will distribute 4,000,000 Spinco shares to Nextech shareholders
- Nextech AR CEO Evan Gappelberg sat down with Sabrina Cuthbert to discuss the proposed spin out
- Nextech AR Solutions is a metaverse company active in augmented reality, 3D modelling, holograms and 360° portals
- Nextech (NTAR) opened trading at C$0.76 per share
Nextech AR (NTAR) has entered into an arrangement agreement with its subsidiary 1000259749 Ontario Inc. and 1373222 B.C. Ltd.
The agreement sets out the terms under which Nextech will spin out the ARway platform and associated assets to its subsidiary 1000259749 Ontario Inc. (Spinco)
If the arrangement is completed, Nextech will receive 16,000,000 common shares of Spinco and will distribute 4,000,000 Spinco shares to Nextech shareholders. This represents a 25 per cent increase from the 3,200,000 shares previously announced.
Nextech AR CEO Evan Gappelberg sat down with Sabrina Cuthbert to discuss the proposed spin out.
“This spin-off transaction is quickly moving forward and will give Nextech shareholders ownership in yet another exciting public company with a spatial computing platform which I believe is perfectly positioned for growth in the rapidly emerging Web3.0 world. Once approved, this Spinco will be another major milestone for Nextech and its valued shareholders. This transaction is anticipated to enable the realization of the true potential of ARway (formerly ARitize Maps) assets under a highly experienced and focused management team, unlocking the true value of our real world Spatial Computing platform.
After 16 years of walking around with a smartphone in our pockets, the next generation of devices is about to emerge in the form of computer glasses. Computer glasses will become the device of choice for spatial commuting and the spatial web, which is the next evolution of our computer-driven world. I believe it will become a major focus of investors when Apple Computer releases a pair of computer glasses which is widely anticipated and expected to happen in the next 12 months. Once fully launched ARway, spatial computing and the spatial web will have unlimited potential and use cases, including; healthcare, education, sports venues, hospitals, campuses, trade shows, theme parks, airports, museums, warehouse wayfinding, and entertainment, forever changing our world into a metaverse with spatially aware computers.”
ARway is a spatial computing platform that offers out-of-box augmented reality mapping solutions.
Nextech AR Solutions is a metaverse company active in augmented reality, 3D modelling, holograms and 360° portals.
Nextech (NTAR) opened trading at C$0.76 per share.