TEK Tekcapital Plc

TIDMTEK

Tekcapital plc

28 September 2017

Tekcapital plc

("Tekcapital" or the "Company")

Lucyd pte ltd to Launch Blockchain Token Sale

Tekcapital plc (AIM: TEK), a UK intellectual property (IP) investment group focused on creating marketplace value from university technology, announces that Lucyd pte ltd ("Lucyd") is launching a Token Sale on 17 October 2017, to raise up to US$10 million. Lucyd pte ltd is a subsidiary of Lucyd ltd, a Tekcapital portfolio company of which it owns 100 per cent.

Lucyd was established by Tekcapital to exclusively license and commercialise a portfolio of 13 optical technology patents that Tekcapital acquired from the University of Central Florida that enable wearable augmented reality ("AR") products.

Subsequently, Lucyd has assembled a team of experts in the science of optics, augmented reality and cryptocurrency with scientific advisors who are already widely regarded as leaders in their respective fields. Lucyd is now at a stage to manufacture prototype AR glasses that are lightweight, look like regular glasses and incorporate see-through displays with eye tracking technology.

Rationale for the Token Sale and Use of Proceeds

The aim of the token sale is to raise up to US$10 million to fund the development of Lucyd's augmented reality glasses and software apps based on Lucyd's exclusively licensed patent portfolio.

According to Digi Capital(1) , the AR market is forecasted to reach approximately US$83 billion by 2021 and the Directors of Tekcapital believe that Lucyd is now well positioned to participate in the emerging AR market due to its innovative IP portfolio and the capable team it has assembled to commercialise its technology. Proceeds from the token sale will not be dilutive for Tekcapital shareholders and represents an innovative financing method to accelerate the development of Tekcapital's portfolio companies.

To learn more about Lucyd, please visit its website at www.lucyd.co.

Commenting on the token sale, Dr. Clifford M. Gross, Executive Chairman of Tekcapital, said; "We are excited to announce this token sale to accelerate the commercialisation of Lucyd's leading AR technology and enhance the value of our portfolio company."

For further information, please contact:

 
 Tekcapital Plc                      Via Walbrook PR 
 Clifford M. Gross, Ph.D. 
 
 Walbrook PR Ltd                     +44 (0) 20 7933 8780 
 Paul Cornelius / Helen Cresswell    tekcapital@walbrookpr.com 
  / Sam Allen 
 

Tekcapital plc - The World's Largest University Network for Open Innovation

Tekcapital's objective is to create value from investing in new, university-developed intellectual properties. Additionally, using its proprietary discovery search engine, linked to 4,500+ universities in 160 countries, coupled with expert scientific review, Tekcapital provides a range of IP investment services to make it easy for organisations to find, evaluate, acquire and license university-developed technology. Tekcapital plc is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

LEI: 213800GOJTOV19FIFZ85

Quoted Reference

https://www.digi-capital.com/news/2017/01/after-mixed-year-mobile-ar-to-drive-108-billion-vrar-market-by-2021/#.WZuSSyiGPIU

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 28, 2017 02:02 ET (06:02 GMT)

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