REG - Tekcapital plc - Portfolio Company Update - Innovative Eyewear Inc.

TekcapitalAnnouncement

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RNS Number : 3347H  Tekcapital plc  06 May 2025

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This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

6th May 2025

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Innovative Eyewear Inc. Partners with Eye Recommend

a Network of 600+ Independent Optometry Stores

 

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group notes
that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW),
the developer and retailer of ChatGPT enabled smart eyewear under the Lucyd®,
Nautica®, Eddie Bauer® and Reebok® brands, has announced it has partnered
with Eye Recommend to provide its smart eyewear to independent optical
practices across Canada.

 

 

Lucyd Moonbeam Model - Image courtesy of Innovative Eyewear Inc.

 

Buying groups like Eye Recommend serve an important function in the optical
industry landscape, making it easier for independent optometrists to access a
large variety of frame and lens products with consolidated billing. Eye
Recommend also provides continuing education training and other essential
resources to eye care professionals.

 

Harrison Gross, CEO of Innovative Eyewear said, "I am truly pleased to partner
with Eye Recommend to deliver our cutting-edge smart eyewear to patients
across Canada. Together we will work to introduce smart eyewear into hundreds
of optical stores, bringing them the unique blend of sight, sound and
connectivity that only Lucyd Eyewear offers. Additionally, we are very excited
to offer our Lucyd Armor™ smart safety glasses in more Canadian points of
sale, following our recent CSA (Canadian Standards Association) safety
certification for use in Canadian workplaces."

 

Lee Raffey, CEO at Eye Recommend, said "At Eye Recommend, we're committed to
delivering exceptional value to our members, and this partnership reflects
that promise. By welcoming a forward-thinking eyewear brand into our
offerings, we're empowering our practices with access to cutting-edge products
that enhance patient experience and support business growth. "

 

About Innovative Eyewear Inc.

Innovative Eyewear is a developer and retailer of ChatGPT smart eyewear, under
the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission
to Upgrade Your Eyewear®, our Bluetooth smart glasses allow users to stay
safely and ergonomically connected to their digital lives and are offered in
hundreds of frame and lens combinations to meet the needs of the optical
market. To learn more and explore our continuously evolving collection of
smart eyewear, please visit www.lucyd.co (http://www.lucyd.co) .

 

About Eye Recommend

Eye Recommend is a network of independent optometry clinics across Canada.
They are a cooperative dedicated to providing value and expertise to its
members.  They leverage the power of their network to bring the best
technology, resources, and services to provide its members the advantages
required to grow their independent clinics.  Their resources extend beyond
typical buying group functions and include MyDryEye.ca, MyMyopia.ca, Eye Care
Collective buying group, Jobs4ECPs.com, and Optometry Unleashed podcast.  Eye
Recommend members remain committed to improving patient eye care through
continued education, training, and technology. To learn more please visit
www.eyerecommend.ca (http://www.eyerecommend.ca)

 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed
discoveries that can enhance people's lives. Tekcapital is quoted on the AIM
market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in
the UK. For more information, please visit www.tekcapital.com.
(http://www.tekcapital.com.)

 

LEI: 213800GOJTOV19FIFZ85

Tekcapital currently owns 259,455 shares of Innovative Eyewear, Inc.
(NASDAQ: LUCY).

 

For further information, please contact:

 

 Tekcapital Plc                                                                                          Via Flagstaff
 Clifford M. Gross, Ph.D.

 SP Angel Corporate Finance LLP                                                                          +44 (0) 20 3470 0470

 (Nominated Adviser and Broker)
 Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees
 (Corporate Broking)

 Flagstaff Strategic and Investor Communications                                                         +44 (0) 20 7129 1474
 Tim Thompson/Andrea Seymour/Fergus Mellon

 

Forward-Looking Statements

This press release contains certain forward-looking statements, including
those relating to the anticipated introduction of new points of sale.
Forward-looking statements are based on the Company's current expectations and
assumptions. The Private Securities Litigation Reform Act of 1995 provides a
safe-harbor for forward-looking statements. These statements may be identified
by the use of forward-looking expressions, including, but not limited to,
"anticipate," "believe," "continue," "estimate," "expect," "future," "intend,"
"may," "outlook," "plan," "potential," "predict," "project," "should," "will,"
"would" and similar expressions that predict or indicate future events or
trends or that are not statements of historical matters, but the absence of
these words does not mean that a statement is not forward-looking. These
forward-looking statements include, but are not limited to, statements
regarding the expected launch date for the new smart safety eyewear
connection. The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information, future
events or otherwise. Important factors that could cause actual results to
differ materially from those in the forward-looking statements are set forth
in the Company's filings with the Securities and Exchange Commission,
including its annual report on Form 10-K under the caption "Risk Factors."

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