Portfolio Company Update: Lucyd Ltd ("Lucyd")

4 November 2021

Tekcapital Plc

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

Portfolio Company Update: Lucyd Ltd ("Lucyd")

Innovative Eyewear Inc. to Sell Lucyd Smart Eyewear on BestBuy.com

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Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve people's lives, is pleased to announce that portfolio company Lucyd's, Innovative Eyewear Inc. subsidiary, has been approved by Best Buy® to provide its unique smart eyewear on BestBuy.com. The product listings may be viewed here.

D. Landstrom Associates, Innovative Eyewear's contracted distributor, facilitated the onboarding process.

This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended (the "Securities Act"). As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.

About Lucyd and Innovative Eyewear Inc.

Lucyd's mission is to Upgrade your Eyewear® with advanced ergonomic smart glasses 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, please visit https://lucyd.co. 

Tekcapital currently owns 100% of the share capital of Lucyd Ltd and approximately 80% of the share capital of its U.S. operating subsidiary, Innovative Eyewear, Inc.

For further information, please contact:

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.