Nextech3D.AI terminates LOI to sell subsidiary interest

Executive Summary

• Nextech3D.AI Corp. terminated its April 4 2025 LOI to sell up to an 80% equity interest in spin‑out subsidiary Toggle3D.ai Inc. to TQG Technologies.
• No deposit was received and no shares were transferred; the transaction could not be structured within required timelines.
• Toggle3D.ai remains a pre‑revenue entity, now placed on “care and maintenance” while management preserves cash and evaluates other strategic alternatives.

Key Details

• Terminated LOI: The previously announced letter of intent dated April 4, 2025 for the sale of up to an 80% equity stake in Toggle3D.ai Inc. to TQG Technologies has been cancelled.
• No Financial Consideration Received: No deposit or any other payment was made by TQG Technologies; no common shares of Toggle were sold.
• Reason for Termination: Parties could not finalize a transaction structure that met applicable timelines and regulatory requirements.
• Toggle3D.ai Status: Remains a pre‑revenue company that failed to achieve expected commercial traction over the past year, continuing to incur development and maintenance costs without revenue generation.
• Operational Decision: Management has placed Toggle on “care and maintenance” to preserve cash resources.
• Future Outlook: Toggle will continue seeking opportunities to enhance shareholder value and is evaluating various strategic alternatives; further updates will be provided as they become available.

Notable Quotes

(No direct quotes were included in the release.)