|By Marketwired .||
|September 22, 2016 09:00 AM EDT|
VANCOUVER, BC--(Marketwired - September 22, 2016) -
For the audio version of today's news release please visit http://nexoptic.com/investors/news/
NexOptic Technology Corp. ("NexOptic") (OTCQB: NXOPF) (TSX VENTURE: NXO) (FRANKFURT: E3O1) and Spectrum Optix Inc. of Calgary, Canada ("Spectrum,") and together with NexOptic, the "Companies") proudly announce that Mr. Carey Wheeler will join the Companies' technology development team as an Image Processing specialist.
Following a long and successful career with the U.S. Army, Mr. Wheeler will use his industry-leading skills in long range drone image analysis and quantitative image processing to investigate the potential for Spectrum's patent pending Blade Optics™ technology to be applied in drones, industrial precision measurement applications, and microscopy. He will also develop sensor models and image processing methods to potentially enhance and expand applications for Blade Optics™.
Mr. Wheeler was previously assigned to U.S. Army INSCOM (Intelligence and Security Command) at the National Geospatial-Intelligence Agency (NGA) in Washington, DC. He was placed on the Army GEOINT Battalion's teaching team partnered with NGA College. Both travelling, and on campus, he successfully taught several hundred soldiers advanced geospatial intelligence analysis skills, before retiring from the U.S. Army in 2014.
During his assignment to INSCOM, Mr. Wheeler was a US Army 35G Geospatial Intelligence Analyst responsible for analysing overhead and aerial imagery developed by photographic and electronic means. Prior to his work with INSCOM, he deployed with Task Force ODIN (Observe, Detect, Identify, Neutralize) to Bagram Airfield, home of the U.S. Army's Regional Command East (RC-East) headquarters in Afghanistan. While there he worked as a Full Motion Video and Imagery Analyst for the Aerial Reconnaissance Support Team (ARST). As an analyst and mission manager, Mr. Wheeler's duties included:
• Analyst for multiple fire missions from UAS platforms, as well as laser designation for other weapons systems on multiple occasions.
• Analyst for multiple route over-watch missions within RC-East that lead to the deactivation of several IEDs
• Analyst for multiple missions targeting High Value Targets which consisted of creating in-depth FUSION targeting products.
• Providing over-watch of assault teams while conducting raids on terrorist members to disrupt IED facilitators within RC-East.
Carey Wheeler stated that:
"I'm very grateful for the opportunity to work with such a talented team of professionals. I believe that the caliber of expertise in this team is unparalleled. Together we will advance the science of optics and optical image processing. I believe strongly in the technology and its potential to change how we perceive the world around us."
John Daugela, President of Spectrum Optix and Director of NexOptic, stated:
"We believe Carey's experience with the U.S. Army Task Force ODIN, the National Geospatial-Intelligence Agency and in the private sector working on video post-production, will be a great asset to our team in advancing Blade Optics™ into various potential imaging applications."
Mr. Daugela added:
"Having acquired his skill-set as a 35G Geospatial Intelligence Analyst for the U.S. Army, and with his vast knowledge of sensor modelling, we look forward to Carey's software and programming contributions in advancing our Blade Optics™ lens technology development."
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:
- Aperture size: Blade Optics™ may allow 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.
On behalf of the Boards of Directors
NexOptic Technology Corp.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
TSX VENTURE: NXO
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 technology, the development of the prototype, the potential applications of Spectrum's technologies and the technology's potential market impacts. 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 Companies operate 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 prototype development is at an early stage and additional work will be required to confirm potential applications and feasibility of Spectrum's technologies; the Companies may not be able complete the prototype as currently expected; the potential applications and market assessment set forth in the Study are based on limited studies and may not be representative of the broader market; the risk that the prototype may not achieve results expected by the Companies; NexOptic may not have access to necessary financing on acceptable terms or at all, including, in order to exercise the options under NexOptic's formal agreement with Spectrum and its shareholders or the conditions to NexOptic's options to acquire Spectrum shares may not be otherwise satisfied; and other risks inherent with the patent process, transactions of this type and the business of Spectrum and/or NexOptic. Such forward looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, NexOptic is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward looking statements, whether as a result 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.
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