Spin-out from parent Company Nextech3D.ai is now complete
Groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply 4K texturing & enables seamless publishing of high quality 3D models
TORONTO, O.N, Canada – June 14 , 2023 - Toggle3D.ai (the “Company”) (CSE:TGGL), a groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply stunning 4K texturing, and enable seamless publishing of high-quality 3D models is pleased to announce that it has finalized the spin-out IPO from Nextech3D.ai and is now trading on the Canadian Securities Exchange (the “CSE”) under the ticker symbol: TGGL.
Go to the TGGL listing on the CSE - click here
Nextech3D.ai owns 13,000,000 common shares in escrow or about a 50% ownership stake in Toggle3D.ai.
Toggle3D.ai has raised $2,158,118 and issued 8,632,473 units (the “Units”) at a price of $0.25 per Unit. Each Unit consists of one common share (“Share”) in the capital of the Company and one share purchase warrant ("Warrant") with each Warrant being convertible into an additional Share at an exercise price of $0.50 for a period of 36 months from the date of issuance.
4 million Toggle3D.ai common shares have been issued as a stock dividend to Nextech3D.ai shareholders on a pro-rata basis which are now expected to settle in brokerage accounts this week. The spin-out of Toggle3D.ai follows Nextech's successful spin-out on 10/26/2022 of ARway.ai, currently trading on (CSE:ARWY), (OTCQB:ARWYF) and (FSE: E65). Full details of the spin-out can be found in Nextech’s management information circular filed on SEDAR.
Toggle3D.ai’s CEO Evan Gappelberg commented, “With today’s listing of Toggle3D, we successfully raised over $2.1 million dollars without selling any Nextech shares, and issued 4 million new shares in TGGL to our shareholders, representing approximately a 3.6% stock dividend, while retaining 13 million shares in TGGL.” He continued, “We are continuing to deliver value for our shareholders with these spin-off companies while at the same time we are continuing to build our core business of delivering 3D models to Amazon and others.”
Toggle3D.ai (CSE:TGGL) is a groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply stunning 4K texturing, and enable seamless publishing of superior 4K 3D models, serving various industries within the $160 billion CGI market. With its Augmented Reality-based rapid prototyping web app, Toggle3D empowers designers, artists, marketers, and eCommerce owners to effortlessly convert, texture, customize, and publish high-quality 3D models and experiences, regardless of technical or 3D design expertise.
Toggle3D.ai has emerged as a standalone public Company, with plans to expand its presence to the Frankfurt and OTC markets in the near future. This strategic move drives innovation and unlocks substantial shareholder value, reflecting Nextech3D.ai’s commitment to driving the industry forward.
Receiving Spin-Out Shares
COMPUTERSHARE
All registered shareholders of Nextech3D.ai who hold shares in Computershare need to complete the Letter of Transmittal form, which was included with Nextech’s proxy package. It can also be found under the Company's profile on SEDAR, or alternatively linked below. The Letter of Transmittal form must be returned to Computershare in order to receive their Toggle3D.ai pro rate distribution shares. Computershare's standard processing time for Letter of Transmittal form is 10 business days. Access the Letter of Transmittal form - click here
BROKERAGE ACCOUNTS
All beneficial shareholders with Nextech3D.ai shares already deposited with their broker will receive the Toggle3D.ai pro-rate distribution shares automatically, as the CDS and DTC complete the Letter of Transmittal form on their behalf.
Toggle3D.ai Investor Relations
Visit the Toggle3D Investor Relations website and sign up for the investor mailing list to receive the latest news, press releases, investor presentations, CEO interviews, financial information and more.
Sign up for the investor mailing list - click here
Recent Toggle3D.ai News
Nextech3D.ai AI- IPO Spin-off Toggle3D.ai Approved By The Canadian Securities Exchange (CSE) to Trade on Wednesday June 14th Symbol: TGGLNextech3D.ai’s Generative AI CAD-3D Design Studio “Toggle3D” Goes Live
Nextech3D.ai Shareholders Approve IPO Spin-out of Its Generative-AI CAD-3D Design Studio “Toggle3D.ai”
Nextech3D.ai Game-Changing Generative-AI CAD 3D Design Studio Toggle3D.ai Primed For $7 Million June IPO
About Toggle3D.ai
Toggle3D.ai (CSE:TGGL) is a groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply stunning 4K texturing, and enable seamless publishing of superior 4K 3D models, serving various industries within the $160 billion CGI market. With its Augmented Reality-based rapid prototyping web app, Toggle3D empowers designers, artists, marketers, and eCommerce owners to effortlessly convert, texture, customize, and publish high-quality 3D models and experiences, regardless of technical or 3D design expertise.
Toggle3D.ai Benefits Over 3D Legacy Software
NO Learning Curve
Toggle3D.ai stands out from legacy 3D design software by eliminating the learning curve and making 3D design accessible to everyone, regardless of their technical background. Unlike traditional systems that require months of learning, Toggle3D.ai simplifies the process by humanizing design terminology, providing guided templates, and using machine learning to make the tools user-friendly.
Web-based Collaboration
Being web-based, users can access Toggle3D.ai instantly on their browsers without the need for downloads, updates, or system compatibility concerns. Additionally, the platform will offer advanced in-app collaboration features, enabling multiple users to work together on the same project in real-time, facilitating quick feedback, decision-making, and cross-department collaboration.
These collaborative tools empower businesses to adopt 3D design organization-wide, enhancing workflow efficiency and unleashing the potential of group iteration.
Visit the Toggle3D.ai website to learn more
https://toggle3d.com/
Follow Toggle3D.ai on Social Media
Youtube: https://www.youtube.com/@Toggle3D
Insta: https://www.instagram.com/toggle3d.ai/
Facebook: https://www.facebook.com/Toggle3D
LinkedIn: https://www.linkedin.com/company/toggle3d-ai/
Twitter: https://twitter.com/Toggle3Dai
For further information, please contact:
Investor Relations Contact
Julia Viola, Lindsay Betts
investor.relations@toggle3D.ai
Toggle3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
