NexOptic Plans Private Placement to Raise $1 Million

NexOptic Technology Corp., a Vancouver-based AI and imaging technology firm, announced its intention to initiate a non-brokered private placement offering for up to $1 million. This follows a turbulent period marked by a cease trade order due to incomplete financial filings, which has since been revoked. NexOptic anticipates resuming stock trading around October 28, 2024.

The late filing arose from the time needed for MNP LLP, their new auditor, to complete the company’s first audit. Despite past management disputes causing delays, NexOptic is focused on advancing its AI and medical imaging solutions including ALIIS and NexCompress.

The proceeds will fund AI advancements and address working capital deficiencies. The offering's specifics await further company announcements, pending exchange approval. Units comprised of common shares and purchase warrants will be issued, subject to a hold period.