Rich Geruson, NexOptic Chairman, Announces NexOptic Receives its 2nd Patent Notice of Allowance from the US Patent Office for Another Key Artificial Intelligence Invention

VANCOUVER, British Columbia, June 17, 2021 (GLOBE NEWSWIRE) — NexOptic Technology Corp. (“NexOptic” or the “Company”) (TSX VENTURE: NXO) (OTCQB: NXOPF) (FSE: E3O1), an innovator in cutting-edge Artificial Intelligence (AI) imaging, announced that the United States Patent and Trademark Office has issued a Notice of Allowance for an important NexOptic patent application covering bright spot removal during video and image capture using a neural network, all part of the ALIIS™ (All Light Intelligent Imaging Solutions) AI solution suite.

“This, the second announcement in 5 weeks on critical patent protections for Aliis, is further evidence that our technologies are unprecedented, protectable, and potentially industry altering,” said Paul McKenzie, Co-Founder and CEO of NexOptic.

A Notice of Allowance is an indication that the invention qualifies for a patent and that administrative and other steps are required prior to its issuance. An invention is still considered “patent pending” until a final patent has been issued.

The patent, once issued, will provide additional key intellectual property protection for NexOptic’s disruptive AI for all levels of imaging including video, data compression and more.

“Beyond today’s news, I’m equally excited about additional patents in the pipeline targeting new feature sets and optimizations that will enhance Aliis on our partner chipsets & IP,” said Kevin Gordon, NexOptic’s VP of AI Technologies: “We’re delivering on a key objective to continuously build-out powerful new feature sets for Aliis and protect them through patent fortification.”

NexOptic also reports that it continues to add additional in-house talent to its software team to support the development of its artificial intelligence program.     

What You Need to Know About ALIIS™ and NexOptic Technology Corp.

NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering a world-leading AI suite for imaging known as ALIIS™ (All Light Intelligent Imaging Solutions). NexOptic simultaneously influences the imaging and AI industries and is a Preferred Partner in the NVIDIA Partner Network, a member of the Arm^® AI Partner Program, and a member of the Qualcomm^® Platform Solutions Ecosystem. For more information, visit www.nexoptic.com.

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Forward-Looking Statements

This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its artificial intelligence technologies, and expected results, specifications, capabilities, and applications thereof. The reader is cautioned that forward- looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the Company’s AI technologies, sport optics product designs and prototype some of which are at an early stage and additional work may be required to confirm potential applications and feasibility of its technologies or bring product designs to market; the Company may not be able to complete product development as currently expected; potential applications of the Company’s technology are based on limited studies and may not be representative of the broader market; the risk that all designs may not achieve expected results; the Company may not be able to commercialize its technology; the Company may not be able to source components for some of its products on a cost-effective basis; the Company may not have access to necessary financing on acceptable terms or at all; pending or future patent applications may not be approved as contemplated or at all; and other risks inherent with technology and product development and the business of the Company. Such forward-looking statements should therefore be construed considering such factors. Other than in accordance with its legal or regulatory obligations, the Company is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

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