NexTech3D AI Corp (NEXCF)

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NEXTECH3D.AI SELLS MAP DYNAMICS TO FOCUS ON PATENTED HIGH-MARGIN GENERATIVE AI-POWERED 3D MODELING TECHNOLOGY

TORONTO, O.N, Canada – May 21, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a frontrunner in generative AI-powered 3D modeling technology for major e-commerce entities such as Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings," today announces its strategic pivot towards becoming a specialized AI 3D firm. The company has divested its Map Dynamics business, a non-core floor plan mapping software unit, to ARway.ai (OTCQB:ARWYF)(CSE:ARWY), in exchange for 4 million shares valued at over $1mill based on Friday's closing price of $0.26/share. This transaction brings Nextech3D.ai's ownership stake in ARway.ai to almost 50% allowing it to share in a substantial amount of ARway.ai's and Map D's upside without having to manage the business itself day to day. This move streamlines Nextech3D.ai's operations, allowing the company to focus exclusively on its high margin-profitable generative AI-powered 3D modeling technology. The closing is expected to happen in the first half of June.

The divestiture not only advances Nextech3D.ai's position in 3D modeling and AI technology but also enhances ARway.ai's financial standing, contributing approximately $1.2 million in revenue and about $250,000 in free cash flow, bolstering its growing spatial mapping operations creating a win-win combination for shareholders of both companies.

This strategic move allows the company to focus on further developing its core competencies in 3D and generative AI and underlines Nextech3D.ai's commitment to leading the evolution of digital commerce through advanced 3D and AI modeling technologies.