3 Oct 2022

Tekcapital Plc

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

Innovative Eyewear, Inc. Announces Multi-Year,

Global Licensing Agreement of the Nautica® brand for Smart Eyewear

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group is pleased to announce Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), a developer and retailer of cutting-edge smart eyewear and a subsidiary of portfolio company Lucyd Ltd, has licensed the global lifestyle brand Nautica® for smart eyewear.

"The Nautica smart eyewear line will stay true to the brand essence of bringing the inspiration of the sea into smart eyewear that is modern and innovative," says Harrison Gross, CEO of Innovative Eyewear, Inc. "Our Nautica® smart eyewear collection, powered by Lucyd®, will align perfectly with today's lifestyle, as we believe consumers are looking for designer eyewear that allows them to reman connected to their digital lives."

The Nautica smart eyewear collection is expected to launch for Holiday 2022 or soon thereafter. 

About Nautica®

Nautica is a leading global lifestyle brand for men, women, and children, which includes home bedding collections. As a nautical-influenced classic American sportswear brand, we inspire and enable people to experience the joy of water. Nautica is one of the most recognized American brands throughout the world, with over 35 categories available in more than 65 countries with 76 Nautica stores and 291 International stores, and over 1,400 Nautica branded shop in shops worldwide. For more information, please visit https://www.nautica.com/.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of smart eyewear, which are designed to allow the users to remain connected to their digital lives, while also offering prescription eyewear and sun protection. The Company believes that traditional frames, no matter how attractive, do not possess the functionality that many eyeglass wearers need and want. Smart eyewear is a multifunctional product that addresses the needs of the optical, hearables and digital assistant markets. We believe that the Company's products are well positioned in this rapidly growing wearables ecosystem, with the mission to Upgrade Your Eyewear®. For more information, please visit www.lucyd.co.

Tekcapital currently owns 100% of the share capital of Lucyd Ltd and 5,189,086 shares (approximately 71%) 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 Innovative Eyewear, Inc., 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 Innovative Eyewear Inc., Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Innovative Eyewear Inc, 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.