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Positive
- Terminated LOI preserves Nextech cash resources
- Management prioritized cash preservation after failed sale
- Company will continue exploring strategic alternatives for Toggle
Negative
- LOI to sell up to 80% of Toggle terminated (April 4, 2025 LOI)
- No deposit received and no Toggle shares were sold to TQG
- Toggle remained pre-revenue and incurred ongoing development costs
- Toggle placed on care and maintenance, reducing operational activity
11/07/2025 – 04:30 PM
TORONTO, ON – Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2) has announced the termination of its previously disclosed letter of intent (LOI) to sell a significant stake in its spin-out subsidiary, Toggle3D.ai Inc. (CSE:TGGL), to TQG Technologies. According to the official statement released today, November 7, 2025, the decision was prompted by the inability of involved parties to finalize the transaction’s structure within the pre-agreed timelines. No deposit was paid to Nextech and no Toggle common shares were sold to TQG as a result.
Toggle3D.ai, positioned as a platform leveraging AI for 3D model creation and augmented reality solutions, has reportedly struggled to gain expected commercial traction. This has led to persistent development and maintenance costs, hindering its path to revenue generation. In response, Nextech’s management has prioritized cash preservation, placing Toggle3D.ai under “care and maintenance” while exploring strategic alternatives. Industry analysts suggest that this move allows Nextech to re-evaluate Toggle3D.ai’s market positioning and technological roadmap in the evolving landscape of AI-driven 3D solutions.
The market’s reaction to the news is expected to be closely watched, particularly regarding Nextech’s overall strategy in the competitive field of 3D modeling and AR technology. While the termination of the LOI presents a setback, the company’s commitment to exploring alternatives suggests a forward-looking approach, aiming to maximize shareholder value through strategic realignments and technological advancements.
Nextech3D.ai has stated that they will provide additional updates on Toggle3D.ai as strategic alternatives are considered.
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.
SOURCE: NexTech3D.AI Corp.
FAQ
What did Nextech3D.ai (NEXCF) announce on November 7, 2025 about Toggle3D.ai (TGGL)?
Nextech announced it terminated the April 4, 2025 LOI to sell up to 80% of Toggle to TQG because the parties could not finalize the transaction.
Did Nextech receive any deposit or sell Toggle shares to TQG under the LOI?
No. The company confirmed no deposit was paid and no common shares of Toggle were sold to TQG.
What is the operational status of Toggle3D.ai after the terminated LOI?
Toggle remains a pre-revenue entity, has continued to incur development costs, and is placed on care and maintenance while alternatives are pursued.
How does the LOI termination affect Nextech’s near-term finances?
Management said it has prioritized preserving cash resources after the transaction failed to close.
Will Nextech provide further updates about Toggle3D.ai (TGGL)?
Yes. The company said it will provide additional updates in due course as it explores strategic alternatives.
