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NexTech AR Solutions Corp.

11:03 AM EST - NexTech AR Solutions Corp. : An emerging leader in augmented reality for learning applications, and Ryerson University, a recognized leader in higher education with over 46,000 students have partnered to launch RALE, the Ryerson Augmented Learning Experience platform, based on NexTech’s InfernoAR. The technology license agreement has an initial value of $250,000 and may create more revenue tied to additional AR services. The initial launch of RALE will focus on first year Chemistry, Biology and Physics students from the Faculty of Science at Ryerson and enable over 5,000 students to participate in rich, collaborative AR enhanced learning experiences during the Fall and Winter Terms. The initial agreement calls for an annual license fee for the InfernoAR platform plus an annual license fee for the Aritize white label app plus a fee of per AR lab with an initial build of 20 labs. The company aims to use this same business model to sign up additional Universities in Canada and throughout North America as COVID19 continues to disrupt classes and social distancing remains in place. NexTech AR Solutions Corp. shares C.NTAR are trading up 7.59 percent at $6.24.