The Board of NexTech AR Solutions Corp. (OTCPK:NEXC.F) announced the spin-off of 20% stake in Toggle3D and associated assets on December 14, 2022. As of April 5, 2023, NexTech AR Solutions Corp. entered into an arrangement agreement with Toggle 3D. As per the transaction, Toggle3D and associated assets will be spun out into a new company and Nextech shareholders will receive Toggle3D shares distributed directly to the shareholders of Nextech on a pro-rata basis. NexTech AR Solutions will retain 65% of stake upon completion. The Arrangement is subject to regulatory approval, including the approval of the CSE, court and shareholder approval of the Arrangement, and standard closing conditions. NexTech that it has received conditional listing approval from the Canadian Securities Exchange (the “CSE”) for Toggle3D.ai. The approved new CSE trading symbol: TGGL. As of June 5, 2023, NexTech AR shareholders approved the plan of arrangement. Toggle3D.ai is expected to be public in the first half of 2023. As of June 13, 2023, NexTech has received court approval and The Canadian Securities Exchange for the transaction, and the trading date on the Canadian Securities Exchange (CSE) will commence on June 14, 2023. Toggle3D.ai will be trading under the ticker symbol TGGL on the CSE. Nextech3D.ai shareholders will automatically receive an aggregate of 4,000,000 shares as a stock dividend. Nextech3D.ai is going to retain 13 million shares or about a 50% ownership stake in Toggle3D.ai. Toggle3D.ai has raised CAD 2,158,118 pursuant to the issuance of 8,632,473 common shares and 8,632,473 CAD 0.50 warrants.

RwE Growth Partners, Inc., provided the fairness opinion, and Computershare Trust Company of Canada acted as a transfer agent to NexTech AR Solutions Corp. (OTCPK:NEXC.F).

The Board of NexTech AR Solutions Corp. (OTCPK:NEXC.F) completed the spin-off of 20% stake in Toggle3D and associated assets on June 14, 2023.