TORONTO, CANADA – July, 2018
Nextech AR Solutions is excited to announce that it signed a worldwide exclusive license agreement with ARHT Media Inc. (“ARHT” or “the Company”) (TSXV:ART), (OTCBB: ARHTF) to bring its patented holographic display technology to the cannabis industry. For the next five years NexTech agrees to purchase a minimum of 12 holographic display units per year, and ARHT Media will earn ongoing royalties on commercial uses of each display. According to Arcview the North American Cannabis market is estimated to grow from $9.2 billion in 2017 to $47 billion by 2027. With over 5,000 marijuana dispensaries open in the U.S and growing Nextech believes that this holographic technology is both needed and ready be launched into the cannabis market.
ARHT CEO Larry O’Reilly comments “while we are making great inroads into the traditional retail, education, events and entertainment markets, we see the cannabis market as another big opportunity for our technology and are excited to work with Nextech to make this happen. The sector is exploding in growth and our holographic displays and telepresence technology are a natural fit to take cannabis retailing to a whole new level. We have the potential to be in hundreds of locations in North America over the next few years.
Reuben Tozman Chief Product Officer of Nextech explains “Imagine walking into your local dispensary and being able to see a 3D 8-foot image of a cannabis bud spinning around with a 360-degree view of every trichrome, every fiery orange hair, the sugary crystals, chunky knobs enveloped by tiny leaves, without any special glasses. Tozman continues “With this proven holographic technology, we now can put 3D screens (with no glasses) into the cannabis market allowing cannabis brands to advertise as well as stream live events directly to its consumer bringing them closer to their favorite brand.
ABOUT NEXTECH AR SOLUTIONS
Nextech AR Solutions is bringing augmented reality to the Cannabis market by turning 2D products into exciting 3D consumer experiences. Nextech is currently developing a proprietary and disruptive Augmented Reality (AR) advertising and education platform that uniquely engages by connecting brands and retailers through a fully immersive 3D AR experience called Native AR. Nextech is launching its ARitize™ app in August 2018, which will host many brands 3D objects and augmented reality experiences. Nextech believes it has the first mover advantage in pursuing the Cannabis market which is the fastest growing economy in the world. NexTech AR Solutions Corp. also owns a large and diverse revenue generating App Portfolio that is deployed on the iTunes and Google plays store which it intends to ARitize™.