VANCOUVER, BC, March 16,
2023 /CNW/ - Mr. Roger
Hardy, Chairman and Chief Executive Officer of Kits Eyecare
Ltd. ("KITS" or the "Company"), through a series of
transactions that included open market buying over the facilities
of the TSX and the exercise of restricted share rights, acquired an
aggregate of 1,113,788 common shares (the "Common Shares")
of KITS, which are held either directly, indirectly or are Common
Shares which Mr. Hardy has control or direction (the
"Acquisitions").
Following the closing of the initial public offering of KITS on
January 19, 2021, Mr. Hardy
directly and beneficially held 8,955,507 Common Shares,
representing 28.89% of the then current issued and outstanding
Common Shares. Before the Acquisitions, Mr. Hardy also held
345,000 options (the "Options") to purchase an additional
345,000 Common Shares of the Company and 9,760 restricted share
rights (the "RSRs") to purchase an additional 9,760 Common
Shares of KITS.
Following the Acquisitions, Mr. Hardy holds directly or
indirectly, or exercises control or direction over an aggregate of
10,069,295 Common Shares, representing 32.15% of the issued and
outstanding Common Shares. Mr. Hardy also holds 445,000 Options to
purchase an additional 445,000 Common Shares of the Company and
1,960 RSRs to purchase an additional 1,960 Common Shares of KITS.
Assuming the exercise of the Options and RSRs, Mr. Hardy would hold
a total of 10,516,255 Common Shares, representing approximately
33.58% of the issued and outstanding Common Shares.
Mr. Hardy, as KITS's Chairman and Chief Executive Officer, in
addition to being one of KITS's largest shareholders, has been and
will continue to be actively involved in the business, operations
and strategic planning for KITS. The Shares beneficially owned by
Mr. Hardy, directly, indirectly and through which Mr. Hardy has
control and direction are held for investment purposes.
Mr. Hardy intends to review on a continuing basis his
investment in KITS and 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 through market transactions, private
agreements, public offerings or otherwise.
An early warning report relating to this transaction will be
filed on SEDAR under KITS's profile at www.sedar.com. To obtain a
copy of such report, please contact Ms. Sabrina Liak, Chief
Financial Officer of KITS at 604-235-5550. KITS's head office is
located at 510 Seymour Street, Suite 1020, Vancouver, British Columbia, V6B 3J5. Mr.
Hardy's mailing address is 510 Seymour Street, Suite 1020,
Vancouver, British Columbia, V6B
3J5.
About KITS
KITS is Canada's fastest
growing, digital eyecare brand providing eyewear for eyes
everywhere. We offer customers access to a vast selection of
contact lenses and eyeglasses, including our own exclusive KITS
designed products, as well as a robust suite of online vision
tools. Our efficient digital platform, backed by our
industry-leading manufacturing and designs, removes intermediaries,
and enables us to offer great prices and deliver made to order
personalized products with incredible care and accuracy. We are
creating disruption in the industry by constantly pursuing
cutting-edge technologies to enable the best customer experience,
including online eyewear fitting tools, and virtual try-on for
glasses. We strive to delight our customers with our competitive
prices, a convenient digital shopping experience, fast and reliable
delivery options, and an unrelenting focus on earning our
customers' lifelong trust. For more information on KITS,
visit: www.kits.com.
SOURCE KITS
