Rich Geruson, NexOptic Chairman, Announces Appointment of New Chief Financial Officer

VANCOUVER, BC, Sept. 20, 2022 /PRNewswire/ - NexOptic Technology Corp. ("NexOptic") (TSXV: NXO) (OTCQB: NXOPF) (FSE: E3O1) is very pleased to report that Mr. Chulhyun ("Wayne") Cho is joining as its new Chief Financial Officer. Mr. Cho brings a wealth of experience in finance and accounting to the team, including 8 years with Deloitte & Touche LLP ("Deloitte") where he led various assurance and consulting projects for different types of corporate clients of varying sizes during his tenure. He subsequently served as the head of finance for 2 large organizations in resource and service industries for 6 years after leaving Deloitte. With his well-rounded experiences serving as both provider and recipient of professional advisory services, as well as through the public accounting practice he is currently serving as a lead accountant for, Mr. Cho has successfully guided clients both large and small across many industries and geographic regions in identifying risks, developing strategy, and overseeing cross-functional and multi-national teams in the execution of internal controls and annual financial statement audits.

Native to South Korea, Mr. Cho possesses a deep understanding of Korean culture, which he has effectively leveraged at various junctures throughout his career. "I am grateful for the opportunity to join and serve an innovative organization, such as NexOptic. I look forward to working closely with the management team and board members to contribute to the company's future growth,' said Mr. Cho on his appointment. "I'm very pleased to be able to appoint as CFO, someone as uniquely qualified to assist us in our future growth initiatives as Wayne Cho." Said Paul McKenzie, Co-Founder and CEO of NexOptic. "Today's announcement is timely as our Korean subsidiary, NexOptic Asia continues to become increasingly relevant to our growth strategy."

In addition to his Chartered Professional Accountant, Chartered Accountant ("CPA CA") designation, Mr. Cho holds Certified Internal Auditor (CIA) designation and is currently working towards his Chartered Business Valuator (CBV) designation.

NexOptic's management and Board of Directors wishes to sincerely thank Ms. Samantha Shorter, whom Mr. Cho is replacing as CFO for her professionalism and her many contributions made to the Company. Ms. Shorter will remain as a consultant to NexOptic.

The Company also wishes to report that the sales and marketing initiatives specific to its AI suite of technologies, Aliis, continue with fervour including from its Korean subsidiary operations, NexOptic Asia, with the full support of NexOptic's highly skilled Canadian AI team members.

NexOptic also anticipates announcing the appointment of a new investor relations professional soon.

ALIIS™ in a Nutshell
Engineered for today and for the metaverse, ALIIS™ (All Light Intelligent Imaging Solutions) is a machine-learning AI suite providing significant energy savings, data compression and enhancements to images and videos everywhere from the edge to the cloud. Aliis enables faster shutter speeds, superior resolution and sharpness, reduced image-noise and motion-blur, and enhanced image color and detail. Aliis does all this while reducing media file size, making it ideal for the storage and streaming applications. Additionally, Aliis provides a fundamental "AI for AI" layer that supercharges downstream AI performance.

These patented and patent-pending solutions can be integrated with imaging devices such as smartphones, smart security cameras, Internet of Things (IoT) devices, automotive platforms, medical imaging technologies, DSLR cameras and more.

For more information, visit www.nexoptic.com/aliis

What You Need to Know About NexOptic
NexOptic is an innovative imaging AI company headquartered in Vancouver, Canada with operations in Seoul, South Korea, offering world-leading patented and patent-pending AI solutions for energy savings, data compression and image and video enhancement known as ALIIS™. Aliis is engineered for today and for the metaverse and simultaneously influences the imaging and AI industries. NexOptic is a member of the Qualcomm® Advantage Network, a Preferred Partner in the NVIDIA Partner Network, and a member of the Arm® AI Partner Program. For more information, visit www.nexoptic.com

Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans," "expects," "estimates," "intends," "anticipates," "believes" or variations of such words, or statements that certain actions, events or results "may," "could," "would," "might," "will be taken," "occur," or "be achieved." Forward-looking statements in this news release include, without limitation, statements respecting the Definitive Agreement, expectations regarding demand for REE, and the plans regarding exploration on the THOR Project. Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in NexOptic's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although NexOptic believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE NexOptic Technology Corp.