TEK Tekcapital Plc

TIDMTEK

RNS Number : 4491P

Tekcapital plc

19 October 2021

19 October 2021

Tekcapital Plc

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

Portfolio Company Update: Lucyd Ltd ("Lucyd")

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university discoveries into valuable products to improve quality of life, is pleased to announce that portfolio company Lucyd's U.S. operating subsidiary, Innovative Eyewear, Inc., has closed its crowdfund raising approximately US$154,000. Innovative Eyewear Inc. ended the offering early as they believe the company has made substantial progress since the crowdfund began.

About Lucyd and Innovative Eyewear Inc.

Lucyd's mission is to Upgrade your Eyewear(R) with smart eyewear and sunglasses that are easy to use, fun to wear, and help you stay safely connected to your digital life. The Lucyd brand and IP portfolio are exclusively licensed to and operated by Innovative Eyewear, Inc. To learn more, or order Lucyd Lyte(R), please visit https://lucyd.co .

Tekcapital currently owns 100% of the share capital of Lucyd Ltd and approximately 81% of the share capital of its U.S. operating subsidiary, Innovative Eyewear, Inc.

For further information, please contact:

 
Tekcapital Plc                                     Via Flagstaff 
Clifford M. Gross, Ph.D. 
 
SP Angel Corporate Finance LLP 
 (Nominated Adviser and Broker)                    +44 (0) 20 3470 0470 
Richard Morrison/Charlie Bouverat (Corporate 
 Finance) 
 Rob Rees (Corporate Broking) 
 
Flagstaff Strategic and Investor Communications    +44 (0) 20 7129 1474 
Tim Thompson/Andrea Seymour/Fergus Mellon 
 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. 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 .

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital or Lucyd's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

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END

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October 19, 2021 02:00 ET (06:00 GMT)

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