Toggle3D.ai Begins Trading on the Canadian Securities Exchange (CSE: TGGL)
Martech Outlook | Wednesday, June 14, 2023
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 - 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.
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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.
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