Eyecarrot Arranges $1-Million Private Placement

Eyecarrot Innovations Corp . (TSXV:EYC) (the “Company”), is pleased to announce that it seeks to complete a non-brokered private placement of 10,000,000 units of the Company (the “Units”) at a price of $0.10 per Unit for a total of $1,000,000 (the “Financing”). Each Unit will consist of one common share of the Company and one transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of the Company (a “Warrant Share”) for a period of 2 years from the date of closing at a purchase price of $0.20 per Warrant Share and subject to an accelerated conversion provision (the “Provision”). The Provision indicates that in the event that the closing price of the Company’s shares exceed $0.30 per share for a period of 10 consecutive trading days, at the Company’s election, the 24 month period within which the warrants are exercisable will be reduced and the holders of the warrants will have 30 days to exercise.
About Eyecarrot
Eyecarrot’s BinoviTM platform is an innovative healthcare technology solution that integrates software, hardware, data and expert knowledge. Binovi helps Optometrists treat vision issues with in-office therapy as well as doctor led home based activities to better serve and increase the patient’s experience and their therapy needs. The goal is to help transform vision performance for the 1 in 4 people worldwide that suffer from vision-related issues going beyond visual acuity. The company is transforming how vision healthcare services are integrated, while addressing key challenges in the health system. Eyecarrot’s objective is to help Optometrists and their teams manage a wide range of problems involving visual function. The building of this network will revolutionize human vision performance, and release the untapped potential of millions of people, globally.
On behalf of the Board of Directors
Adam Cegielski
President | CEO
Telephone: 1.855.416.7158 – 416.943.6271
Forward-looking information
Certain statements contained in this news release constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations, and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company’s continuous disclosure filings filed under the Company’s profile at www.sedar.com . The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibili ty for the adequacy or accuracy of this release.
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