NexOptic Technology Corp. (“NexOptic”) (OTCQB: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E301) (BERLIN: E301) and Spectrum Optix Inc. of Calgary, Canada (“Spectrum,”) and together with NexOptic, the “Companies” are pleased to announce that Mr. Stephen Petranek has joined the Board of Directors of NexOptic Technology Corp.

A widely-recognized technology futurist and award-winning author, Mr. Stephen Petranek is the former editor-in-chief of several respected scientific and financial publications. He is also Co-Executive Producer of the National Geographic mini-series “MARS”, which is based on, and inspired by, his book, “How We’ll Live on Mars,” published by Simon and Shuster and the TED Conferences. Petranek’s critically acclaimed book was partly a result of extensive conversations and interviews with Elon Musk, CEO of Space-X, and senior management and leading scientists at NASA.

Petranek is the former editor-in-chief of the world’s largest scientific magazine, Discover, and was the senior editor for sciences at Life Magazine. Earlier in his career Petranek was the editor of The Washington Post’s magazine and editor-in-chief of The Miami Herald’s Sunday magazine. Mr. Petranek is also a recipient of the prestigious John Hancock Award for Business and Financial Writing, considered by many to be the Pulitzer of financial writing.

Paul McKenzie, President, and CEO of NexOptic, commented:

“Stephen’s tremendous knowledge and his many connections within the scientific community, including to leading technology corporations, combined with his experience with publicly traded companies and ties to financial networks, make him an excellent addition to our team. We are proud to have him join us and very much look forward to working closely with Stephen as we work to advance our Company and our technologies.”

Upon his appointment to NexOptic’s Board of Directors, Petranek stated:

“I am honored and excited to be joining such an innovative company at the cutting edge of a technological revolution. The team at NexOptic is energetic, dedicated and determined to succeed and I believe that the Blade Optics technology has the potential to completely alter our current concept of how we think of lenses and what they can do. I look forward to being part of a potential disruptive shift in how we observe the world around us.”

Stock Option Grant

NexOptic also reports that it has granted an aggregate of 550,000 stock options to employees and consultants having an exercise price of $0.95 and a term of five years.

Further, and at the request of IIROC, NexOptic confirms that, other than as set forth herein, it is not aware of any material change in its operations or affairs that would account for recent increase in the market activity of its common shares. However, as previously disclosed, the Company and Spectrum Optix Inc. (“Spectrum”) continue to steadily advance their business strategy, including completing their proof of concept (“POC”) imaging prototype, which is in its final stages.

About NexOptic Technology Corp.

NexOptic is a publicly traded company, which has an option to acquire, in the aggregate, 100% of Spectrum Optix Inc., a private corporation. The Companies are, in essence, working as a single corporation at this time, with their respective CEOs sitting on each other’s boards of directors. Please see NexOptic’s news release dated November 18, 2014 for additional details regarding this relationship.

Spectrum is developing technologies relating to imagery and light concentration applications. Utilizing its patent-pending Blade Optics™ technology, which contains flat lenses, the company aims to disrupt conventional lens and image capture-based systems.

Benefits of Blade Optics™ Technology

The Companies’ believe that Blade Optics™ has the potential to breakdown many of the limitations associated with conventional, curved lens stacks, including:

  • Aperture size: Allowing the aperture-to-depth ratio to be increased in depth-limited optical devices to permit increased resolution compared to conventional curved optical devices with similar depth.
  • Compactness: Decreasing the depth of the lens stack would create the possibility of more compact and practical imaging devices.

Spectrum is currently developing a proof-of-concept telescope prototype that will utilize its Blade Optics™ technology, other optical elements and electronic components. The prototype is intended to demonstrate the marketable features of Spectrum’s Blade Optics™ technology and its potential to serve as a platform to be used in various optical applications. Please see the Companies’ joint press release dated May 25, 2016 for the latest progress report on this first of its kind prototype.

NexOptic trades on the OTCQB under the symbol “NXOPF,” on the TSX Venture as “NXO,” on Frankfurt as “E301” and Berlin as “E301.” More information is available at www.nexoptic.com.

On behalf of the Boards of Directors

NexOptic Technology Corp.
Paul McKenzie, President & CEO

Spectrum Optix Inc.
John Daugela, President & CEO

www.NexOptic.com
Look@NexOptic.com
+1 (604) 669 – 7330

OTCQB: NXOPF
TSX VENTURE: NXO
Frankfurt: E301
Berlin: E301