Mr. Roger Hardy reports

KITS EYECARE LTD. ANNOUNCES CLOSING OF SECONDARY OFFERING OF COMMON SHARES

Kits Eyecare Ltd. has closed the previously announced secondary offering of common shares of the company, pursuant to which Canaccord Genuity Corp., as sole bookrunner and co-lead underwriter, together with Beacon Securities Ltd., as co-lead underwriter, on behalf of a syndicate of underwriters purchased, on a bought deal basis, an aggregate of 1,125,000 common shares held by Roger Hardy and entities managed by Mr. Hardy, LD Group Holdings Ltd., and Joseph Thompson, at an offering price of $10.15 per share for total gross proceeds to the selling securityholders of $11,418,750. Kits did not receive any proceeds from the offering.

Prior to the offering, Mr. Hardy, directly or indirectly, owned or controlled an aggregate of 10,077,860 common shares, representing approximately 31.93 per cent of the issued and outstanding common shares. Immediately following the closing of the offering, Mr. Hardy, directly or indirectly, owns or controls an aggregate of 9,152,860 common shares, representing approximately 29.0 per cent of the issued and outstanding common shares; the LD Group, directly or indirectly, owns or controls 10,520,589 common shares, representing approximately 33.3 per cent of the issued and outstanding common shares; and Mr. Thompson, directly or indirectly, owns or controls 224,329 common shares, representing approximately 0.7 per cent of the issued and outstanding common shares.

As previously announced, the underwriters have been granted an overallotment option to purchase up to an additional 168,750 common shares from the selling securityholders at the offering price for additional gross proceeds of $1,712,812.50 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.

The company also announces that, concurrently with the closing of the offering, in a previously announced transaction, the underwriters have closed their purchase on a bought deal basis from the spouse of Sabrina Liak, 325,000 common shares at the offering price for total gross proceeds of $3,298,750. Immediately following the closing of the concurrent block trade, Ms. Liak and her spouse, directly or indirectly, own or control 3,540,089 common shares, representing approximately 11.2 per cent of the issued and outstanding common shares.

Following the completion of the offering and the concurrent block trade, the company's insiders own approximately 75 per cent of the issued and outstanding common shares.

Mr. Hardy, as chairman and chief executive officer of Kits, in addition to being one of the company's largest shareholders, has been and will continue to be actively involved in the business, operations and strategic planning for Kits. The common shares beneficially owned by Mr. Hardy, directly, indirectly, and through which Mr. Hardy has control and direction, are held for investment purposes. Mr. Hardy may, depending on market and other conditions, increase or decrease his beneficial ownership of securities or those securities through which Mr. Hardy has control or direction, of Kits from time to time through market transactions, private agreements, public offerings or otherwise.

An early warning report relating to Mr. Hardy's disposition of common shares pursuant to the offering will be filed on SEDAR+ under the company's profile. To obtain a copy of such report, please contact Zhe Choo, chief financial officer of Kits, at 604-235-5550. The company's head office is located at 510 Seymour St., Suite 1020, Vancouver, B.C., V6B 3J5. Mr. Hardy's mailing address is 510 Seymour St., Suite 1020, Vancouver, B.C., V6B 3J5.

About Kits Eyecare Ltd.

Kits makes eyecare easy. Kits is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. The company offers customers access to a vast selection of contact lenses and eyeglasses, including its own exclusive Kits designed products, as well as a robust suite of on-line vision tools. The company's efficient digital platform, backed by its industry-leading manufacturing and designs, removes intermediaries, and enables Kits to offer great prices and deliver made-to-order personalized products with incredible care and accuracy. The company 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. Kits 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 our customers' lifelong trust.

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