Ms. Olivia Evans reports

KITS EYECARE LTD. ANNOUNCES $10.15 MILLION SECONDARY OFFERING AND CONCURRENT BOUGHT BLOCK TRADE OF COMMON SHARES

Roger Hardy and entities managed by Mr. Hardy, LD Group Holdings Ltd., and Joseph Thompson have entered into an agreement with Canaccord Genuity Corp. as sole bookrunner and sole-lead underwriter, pursuant to which the lead underwriter, on behalf of a syndicate, has agreed to purchase on a bought deal basis an aggregate of one million Kits Eyecare Ltd. common shares held by the selling securityholders at an offering price of $10.15 per share for total gross proceeds to the selling securityholders of $10.15-million. Kits Eyecare will not receive any proceeds from the offering.

The lead underwriter has also been granted an overallotment option to purchase up to an additional 150,000 common shares from the selling securityholders at the offering price for additional gross proceeds of $1,522,500 if the overallotment option is exercised in full. The overallotment option can be exercised at any time, in whole or in part, for a period of 30 days from the closing date of the offering, which is expected to occur on or about Sept. 26, 2024, and is subject to certain customary closing conditions.

A preliminary short form prospectus relating to the offering will be filed no later than Sept. 11, 2024, with Canadian securities regulatory authorities.

In a separate transaction that is expected to close concurrent with the offering, the underwriters have agreed to purchase on a bought deal basis from the spouse of Sabrina Liak 225,000 common shares at the offering price for total gross proceeds of $2,283,750. The concurrent bought block trade is expected to close on or about Sept. 26, 2024. The completion of the offering is not conditional upon the completion of the concurrent bought block trade.

About Kits Eyecare Ltd.

Kits Eyecare makes eye care easy. Kits Eyecare is a leading vertically integrated digital eye care brand, providing eyewear for eyes everywhere. It offers customers access to a vast selection of contact lenses and eyeglasses, including its own exclusive Kits Eyecare designed products, as well as a robust suite of on-line vision tools. Its efficient digital platform, backed by its industry-leading manufacturing and designs, removes intermediaries, and enables it to offer great prices and deliver made-to-order personalized products with incredible care and accuracy. It is creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including on-line eyewear fitting tools and virtual try-on for glasses. It strives to delight its customers with its competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning its customers' lifelong trust.

We seek Safe Harbor.