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TSX:BCI  $



Press Releases

Year 2015


December 21st, 2015
New Look Vision Group Inc. Agrees to Acquire Forward Vision Group Inc.

See Release


November 9, 2015
New Look Vision Group Inc. Announces its Results for the Third Quarter of 2015 and its Quarterly Dividend.

See Release


November 4, 2015
New Look Vision Group Inc. to hold Third Quarter 2015 Results Conference Call.

See Release


August 6, 2015
New Look Vision Group Inc. announces record high results for the second quarter of 2015 and its quarterly dividend.

See Release


August 3rd, 2015
New Look Eyewear Inc. to Hold Second Quarter 2015 Results Conference Call.

See Release


May 8, 2015
New Look Eyewear Inc. to Hold First Quarter 2015 Results Conference Call

See Release


May 6, 2015
New Look Eyewear Inc. announces record revenues for the first quarter ended March 28 of 2015 and its quarterly dividend

See Release


April 17, 2015
New Look Eyewear Announces Appointment of Derrick Giannoumis, CPA, CA, as Chief Financial Officer

See Release


March 17, 2015
New Look Eyewear Inc. Announces Record Revenues for both the Fourth Quarter and the Year Ended December 27,2014 and its Quarterly Dividend

See Release


MORE PRESS RELEASE
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New Look Eyewear Inc. to Hold First Quarter 2015 Results Conference Call

MONTREAL, QUEBEC, May 5th, 2015 – New Look Eyewear Inc. (TSX: BCI) ("New Look") announced today that it will present its first quarter results for 2015 during a conference call for the financial community. The financial results will be made public in a press release that will be issued on the newswire prior to the conference call. The Press Release and the Management’s Discussion & Analysis will be posted SEDAR (www.sedar.com) and also on its own website (www.newlook.ca).

Financial analysts and investors are invited to attend this conference call:

CONFERENCE CALL

Date and Time

Friday, May 8th, 2015 at 1:00 p.m. EDT

Dial-in number:

1 877 223-4471 (toll-free)
(647) 788-4922 (long-distance/international)

Media and other interested individuals are invited to listen to the full replay:

Écoute ultérieure

Availability dates:

Friday, May 8th, 2015 at 1:00 p.m. EDT

Access telephone number:

1 877 223-4471 (toll-free)
(647)778-4922 (long-distance/international)

Reservation number;

26235322


As of April 30th, 2015, New Look had 13,359,830 Class A common shares issued and outstanding. New Look is a leader in the eye care industry in Eastern Canada having a network of 193 corporate stores mainly under the New Look, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies.

For additional information please see our website at www.newlookvision.com. For enquiries, please contact Lise Melanson at (514) 877-4119.

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New Look Eyewear Inc. Announces Appointment of Derrick Giannoumis, CPA, CA, as Chief Financial Officer

April 17, 2015

Montréal, Québec, April 17, 2015: New Look Eyewear Inc. (TSX: BCI) (“New Look”) announces today the appointment of Derrick Giannoumis, CPA, CA, as Senior Vice President and Chief Financial Officer of the Company effective June 1st, 2015, replacing Jean-Luc Deschamps who had previously announced his retirement from New Look. A native of Montreal and graduate of Concordia University, Mr. Giannoumis has over 10 years’ experience in accounting, financial reporting and related matters. He is currently Chief Financial Officer and General Manager of the Greiche & Scaff division of New Look, a position he has occupied since October 2014, the date upon which New Look acquired Greiche & Scaff. Prior to that time, he occupied similar positions with the predecessor company.

Antoine Amiel, Vice Chairman of New Look, stated that: “We welcome Derrick to the senior management team where we expect him to make a strong contribution. He brings not only his financial and accounting skills, but also valuable operating experience in the retail optical industry, and also prior to that, experience in other retail sectors.”





As of March 31st, 2015, New Look had 13,359,830 Class A common shares issued and outstanding. New Look is a leader in the eye care industry in Eastern Canada having a network of 193 corporate stores mainly under the New Look, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies. Tax information regarding payments to shareholders is available at www.newlook.ca in the Investors section.

All statements other than statements of historical fact contained in this press release are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look. Readers can identify many of these statements by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “plans”, “may”, “would” or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will be achieved. Forwardlooking statements are subject to risks, uncertainties and assumptions. Although management of New Look believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look’s current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law.

For For additional information please see our website at www.newlookvisiongroup.ca. For enquiries, please contact Lise Melanson at (514) 877-4299, ext. 2234.

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New Look Eyewear Inc. Announces Record Revenues for Both the Fourth Quarter and the Year Ended December 27th of 2014 and its Quarterly Dividend

March 16, 2015

Montréal, Québec, March 16th , 2015: New Look Eyewear Inc. (TSX: BCI) (“New Look”) announced today that revenues for the fourth quarter ended December 27, 2014 reached a record of $ $40.8 million, an increase of 59.4% over the corresponding period of last year. This increase was due to a comparable store(1) orders increase of 4.4%, additional revenues generated by 122 stores opened or acquired over the past 24 months including the acquisition of the assets and the business of Vogue Optical (65 stores) in December 2013 and the acquisition of the assets and business of the Greiche & Scaff banner (49 stores) last October. Adjusted EBITDA(2) for the fourth quarter was $7.5 million, compared to an adjusted EBITDA of $ $4.4 million last year, an increase of 69.4%.

Net earnings attributed to shareholders of $2.0 million for the quarter were up 81.9% from last year. This included acquisition-related and restructuring costs of $1.0 million. This is in line with the EBITDA increase following the Vogue Optical acquisition and reflects additional depreciation, amortization and financial expenses, as well as acquisition costs and restructuring costs related to Greiche & Scaff. In spite of these additional expenses and the issuance of shares, mainly pursuant to the financing of both the Vogue Optical and Greiche & Scaff acquisitions, net earnings per share(3) for the quarter increased to $0.15 from $0.11 last year. Net earnings per share adjusted to remove the impact of acquisition-related costs and restructuring increased to $0.21 from $0.17 last year.

Cash flows from operating activities (before changes in working capital) reached $6.5 million or $0.47 per share(3) in the fourth quarter of 2014 compared to $3.5 million and $0.29 per share last year.

Year-to-date results

Year-to-date revenues and adjusted EBITDA reached a record $140.2 million and $27.0 million respectively, which represent increases of 54.2% and 71.3% respectively over last year. Expressed as a percentage of revenues, adjusted EBITDA represented 19.3% in 2014 as compared to 17.3% in 2013. Net earnings attributed to shareholders of $7.8 million were up 24.6% from last year, including acquisition-related and restructuring costs of $2.3 million. Net earnings per share were $0.59 compared to $0.58 last year, thus reflecting additional depreciation, amortization and financial expenses, acquisition and restructuring costs related to Greiche & Scaff as well as the issuance of shares over 2013 and 2014. Net earnings adjusted to remove the impact of acquisition-related and restructuring costs increased to 9.4 million from 7.0 million last year, an increase of 34.3%. Same store orders year-to-date were up 1.7% over last year.

Cash flows from operating activities (before changes in working capital) increased significantly to $24.3 million or $1.83 per share from $14.5 million or $1.34 per share last year.

More details on the financial performance of the fourth quarter and the total year are available in the attachments.

Antoine Amiel, the Vice-Chairman of New Look, stated that: “The successful acquisition of Greiche & Scaff in the fourth quarter of 2014, following the acquisition of Vogue Optical in December 2013, has moved the New Look group to a new level. We are now the second largest optical retail chain in Canada and are well positioned to continue to grow and become a national player off of a strong base in Quebec and the Atlantic provinces.”

Martial Gagné, the President of New Look, commented: “We are pleased to report a strong operating and financial performance in the fourth quarter. As a result, 2014 was a record year for revenues and adjusted EBITDA for the company, reaching $140.2 million and $27.0 million respectively. Same store sales for the year were stable at 1.7% while cash flow from operations was very strong, reaching $24.3 million ($1.83 per share). All of these and other positive operating and financial factors are concrete evidence of the success of our growth strategy in the past several years, both generic and by acquisition. We now own three of the leading optical retail banners in Eastern Canada, which is our base for future growth in our existing markets and across the country.”

Change at the direction of New Look

Mr. Jean-Luc Deschamps, CPA, CA, senior Vice-President and Chief Financial Officer will be leaving New Look at the end of the second quarter of 2015 to pursue other interests. New Look expects to announce the appointment of his successor prior to his departure.

Dividend approval

Following the approval of the results of the fourth quarter of 2014 and taking into account the solid cash inflows from operations in the quarter, the Board of Directors of New Look approved the payment of dividends totalling $0.15 per Class Acommon shares payable on March 31st , 2015 to the shareholders of record as of March 25th , 2015. One dividend, in the amount of $0.139 per share, has been designated as “eligible dividend”, that is a dividend entitling shareholders who are Canadian resident individuals to a higher dividend tax credit.

Shareholders residing in Canada are allowed to elect to re-invest their cash dividends into New Look shares, without any brokerage commissions, fees and transaction costs through the dividend reinvestment plan implemented in 2014. Until any further announcement, shares will be issued from treasury at 95% of the weighted average trading price for the five days preceding the dividend payment date. Any shareholder wishing to benefit from this opportunity only has to make the election through his or her broker.

Attachments

Table A - Highlights

Table B - Consolidated statement of earnings

Table C - Reconciliation of net earnings to adjusted EBITDA

Table D – Reconciliation of net earnings to adjusted net earnings

1) Comparable stores are those opened before 2013 by New Look, Vogue Optical and Greiche & Scaff. Revenues are recognized at time of delivery of goods to customers, but management measures the comparable store performance on the basis of sales orders, whether delivered or not.
2) EBITDA, adjusted EBITDA and adjusted net earnings are not recognized measures under IFRS and may not be comparable to similar measures used by other entities. See Table C and Table D attached for a reconciliation of net earnings to these measures.
3) Per share amounts are expressed on a diluted basis.





As of February 28, 2015, New Look had 13,312,684 Class A common shares issued and outstanding. New Look is a leader in the eye care industry in Eastern Canada having a network of 192 corporate stores mainly under the New Look, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies. Tax information regarding payments to shareholders is available at www.newlookvision.com in the Investors section.

All statements other than statements of historical fact contained in this press release are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look. Readers can identify many of these statements by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “plans”, “may”, “would” or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will be achieved. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look’s current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law.

For For additional information please see our website at www.newlookvisiongroup.ca. For enquiries, please contact Lise Melanson at (514) 877-4299, ext. 2234.

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MONTREAL, QUEBEC, August 3rd, 2015 – – New Look Vision Group Inc. (TSX: BCI) ("New Look") announced today that it will present its second quarter results for 2015 during a conference call for the financial community. The financial results will be made public in a press release that will be issued on the newswire prior to the conference call. The Press Release and the Management’s Discussion & Analysis will be posted SEDAR (www.sedar.com) and also on its own website (www.newlookvision.ca).

Financial analysts and investors are invited to attend this conference call.

CONFERENCE CALL

Time and Date:         Friday, August 7th, 2015 at 1:00 p.m. EDT
Dial-in number:   1-877-223-4471 (toll free)
                                                   1-647-788-4922 (long-distance/international)

Media and other interested individuals are invited to listen to the full replay:

CONFERENCE RECORDING PLAYBACK

Availability dates:        August 7th, (4:00 p.m. EDT) to August 28th, 2015 (11:59 p.m. EDT)
Access telephone number:    1-800-585-8367 or 416-621-4642
Reservation number:        83596423





As of July 31st, 2015, New Look had 13,407,008 Class A common shares issued and outstanding. New Look is a leader in the eye care industry in Eastern Canada having a network of 193 corporate stores mainly under the New Look, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies.

For additional information please see our website at www.newlook.ca. For enquiries, please contact Lise Melanson at (514) 877-4119.

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NEW LOOK VISION GROUP INC. ANNOUNCES RECORD HIGH RESULTS FOR THE SECOND QUARTER OF 2015 AND ITS QUARTERLY DIVIDEND

Montréal, Québec, August 6, 2015: New Look Vision Group Inc. (TSX: BCI) (“New Look Vision”), formerly New Look Eyewear Inc., announced today record high results for the second quarter ended June 27, 2015 and its quarterly dividend.

Second quarter results

New Look Vision reported revenues of $46.8 million and an adjusted EBITDA(1) of $10.1 million for the second quarter ended June 27, 2015 representing increases of 33.2% and 21.7% respectively over last year. The increases were due to strong same store sales growth across all banners, as well as the addition of the Greiche & Scaff stores acquired last October. Comparable store sales orders(2) for the quarter increased by 6.1% over last year.

Net earnings attributed to shareholders of $4.4 million for the quarter were up 42.4% from last year. This is in line with the EBITDA increase following the improved same store sales growth and the Greiche & Scaff acquisition and reflects additional depreciation, amortization and financial expenses recorded in 2015 compared to last year. In spite of these additional expenses and the issuance of shares, mainly pursuant to the financing of Greiche & Scaff acquisition, net earnings per share(2) for the second quarter increased by 33% to $0.32 from $0.24 last year. Net earnings per share(3) adjusted to remove the impact of acquisition-related costs increased to $0.33 from $0.27.

Cash flows from operating activities (before changes in working capital) reached $9.0 million or $0.65 per share(3) in the second quarter of 2015 compared to $7.6 million or $0.59 per share last year.

Year-to-date revenues and adjusted EBITDA reached $88.6 million and $16.8 million respectively, which represent increases of 32.3% and 26.0% respectively over last year. Net earnings attributed to shareholders of $6.0 million were up 47.4% from last year. Net earnings per share (3) increased to $0.44 from $0.31 last year, despite additional depreciation, amortization and financial expenses. Net earnings per share (3) adjusted to remove the impact of acquisition-related costs increased to $0.46 from $0.34 last year. Same store sales orders year-to-date were up 6.0% over last year.

Cash flows from operating activities (before changes in working capital) increased significantly to $15.1 million or $1.09 per share(3) from $12.5 million or $0.96 per share last year.

More details on the financial performance of the second quarter and the year-to-date period are available in the attachments.

President's comments

Antoine Amiel, the President of New Look Vision, stated that: “Q2 was another strong and record quarter in revenues and profitability, evidence of the ongoing success of the company's focus on operations and aggressive growth strategy. We continue to closely monitor developments in the consolidation of the Canadian retail optical industry.”

Dividend approval

Following the approval of the results of the second quarter of 2015 and taking into account the solid cash inflows from operations in the quarter, the Board of Directors of New Look Vision approved the payment of dividends totalling of $0.15 per Class A common shares payable on September 30th, 2015 to the shareholders of record as of September 23, 2015. One dividend, in the amount of $0.129 has been designated as an “eligible dividend”, that is a dividend entitling shareholders who are Canadian resident individuals to a higher dividend tax credit.

Through the dividend reinvestment plan implemented in 2014, shareholders residing in Canada may elect to re-invest their cash dividends into New Look Vision shares, without incurring brokerage commissions, fees and transaction costs. Until any further announcement, shares will be issued from treasury at 95% of the weighted average trading price for the five days preceding the dividend payment date. Any shareholder wishing to benefit from this opportunity may do so through his or her broker.

Attachments

- Table A - Highlights

- Table B - Consolidated Statement of Earnings

- Table C - Reconciliation of Net Earnings to Adjusted EBITDA

- Table D – Reconciliation of Net Earnings to Adjusted Net Earnings

1)EBITDA, Adjusted EBITDA and adjusted net earnings are not recognized measures under IFRS and may not be comparable to similar measures used by other entities. See Table C and Table D attached for a reconciliation of net earnings to these measures.
2) Refer to footnote a) in Table A for the definition of comparable stores and how management measures comparable store performance.
3) Per share amounts are expressed on a diluted basis.


As of June 30, 2015, New Look Vision had 13,407,008 Class A common shares issued and outstanding. New Look Vision is a leader in the eye care industry in Eastern Canada comprised of a network of 192 corporate stores mainly under the New Look Eyewear, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies. Tax information regarding payments to shareholders is available at www.newlookvision.ca in the Investors Relation section.

All statements other than statements of historical fact contained in this MD&A are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look Vision. Readers can identify many of these statements by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “plans”, “may”, “would” or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will be achieved. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look Vision believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look Vision’s current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look Vision undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law.

For additional information please see our Web site www.newlookvision.ca. For enquiries, please contact Lise Melanson (514) 877-4299, ext. 2234.

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LNEW LOOK EYEWEAR INC. ANNOUNCES RECORD REVENUES FOR THE FIRST QUARTER ENDED MARCH 28th OF 2015 AND ITS QUARTERLY DIVIDEND

Montréal, Québec, May 6th, 2015: New Look Eyewear Inc. (TSX: BCI) (“New Look”) announced today that revenues for the first quarter ended March 28, 2015 reached a record of $ $41.8 million, an increase of 31.4% over the corresponding period of last year. This increase was mainly due to additional revenues generated by 53 stores acquired or opened since the beginning of 2014, including the 49 Greiche & Scaff stores acquired last October as well as higher same store sales growth for stores operated under the New Look Eyewear and Vogue Optical banners. Adjusted EBITDA(1) for the first quarter was $6.7 million, compared to an adjusted EBITDA of $5.0 million last year, an increase of 33.1%.

Net earnings attributed to shareholders of $1.6 million for the quarter were up 62.6% from last year. This is in line with the EBITDA(1) increase following the Greiche & Scaff acquisition and improved same store sales growth and reflects additional depreciation, amortization, financial expenses and acquisition-related costs. In spite of these additional expenses and the issuance of shares, mainly pursuant to the financing of Greiche & Scaff acquisition, net earnings per share(2) for the quarter increased by 50% to $0.12 from $0.08 last year.

Cash flows from operating activities (before changes in working capital) reached $6.1 million or $0.44 per share(2) in the first quarter of 2015 compared to $4.8 million or $0.37 per share last year.

More details on the financial performance of the first quarter are available in the attachments.

Antoine Amiel, the Vice-Chairman of New Look, stated that: “Our ongoing positive operating and financial results in 2014 and Q1 2015 are concrete evidence of the success of our growth strategy in the past several years, both generic and by acquisition. Q1 2015 is the first quarter reflecting full quarterly results for both Vogue Optical (acquired in December 2013) and Greiche & Scaff (acquired in October 2014). The Canadian retail optical industry continues to consolidate and we continue to monitor developments closely at the same time as we continue to organically build our business.”

Martial Gagné, the President of New Look, commented: “We are pleased to report a strong operating and financial performance in the first quarter of 2015. Revenues and adjusted EBITDA achieved $41.8 million and $6.7 million respectively. Same store sales orders(3) for the first quarter were up 6.2% compared to 0.7% last year. Cash flow from operations was strong, achieving $6.1 million. The outlook for the second quarter remains promising for all three banners.”

Change of Name

The Company has proposed to its shareholders, to be voted on at the Annual and Special Meeting of Shareholders to be held in Montréal, Québec on May 7th, 2015, to change its name to New Look Vision Group Inc. / Groupe Vision New Look inc. in order to better reflect the multibanner structure of its business and reflect its national aspirations. The operating divisions and companies will continue, as before, to carry on their respective businesses principally under the banners New Look Eyewear, Vogue Optical and Greiche & Scaff.

Dividend approval

Following the approval of the results of the first quarter of 2015 and taking into account the solid cash inflows from operations in the quarter, the Board of Directors of New Look approved the payment of a dividend of $0.15 per Class A common shares payable on June 30th, 2015 to the shareholders of record as of June 23, 2015. The dividend has been designated as “eligible dividend”, that is a dividend entitling shareholders who are Canadian resident individuals to a higher dividend tax credit.

Shareholders residing in Canada are allowed to elect to re-invest their cash dividends into New Look shares, without any brokerage commissions, fees and transaction costs through the dividend reinvestment plan implemented in 2014. Until any further announcement, shares will be issued from treasury at 95% of the weighted average trading price for the five days preceding the dividend payment date. Any shareholder wishing to benefit from this opportunity only has to make the election through his or her broker.

Attachments

- Table A - Highlights

- Table B - Consolidated statement of earnings

- Table C - Reconciliation of net earnings to adjusted EBITDA

- Table D – Reconciliation of net earnings to adjusted net earnings

1) EBITDA, Adjusted EBITDA and adjusted net earnings are not recognized measures under IFRS and may not be comparable to similar measures used by other entities. See Table C and Table D attached for a reconciliation of net earnings to these measures.
2) Per share amounts are expressed on a diluted basis.
3) See footnote a) to the Table A for a definition of comparable stores and comments on how management measures the comparable store performance.


As of March 31, 2015, New Look had 13,359,830 Class A common shares issued and outstanding. New Look is a leader in the eye care industry in Eastern Canada having a network of 193 corporate stores mainly under the New Look Eyewear, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies. Tax information regarding payments to shareholders is available at www.newlook.ca in the Investors section.

statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look. Readers can identify many of these statements by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “plans”, “may”, “would” or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will be achieved. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look’s current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law.

For additional information please see our Web site www.newlook.ca. For enquiries, please contact Lise Melanson (514) 877-4299, ext. 2234.

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NEW LOOK VISION GROUP INC. TO HOLD THIRD QUARTER 2015 RESULTS CONFERENCE CALL

MONTREAL, QUEBEC, November 4th, 2015: New Look Vision Group Inc. (TSX: BCI) ("New Look") announced today that it will present its third quarter results for 2015 during a conference call on Tuesday, November 10th, 2015 at 1:00 p.m. EST for the financial community. The financial results will be made public in a press release that will be issued on the newswire prior to the conference call. The Press Release and the Management’s Discussion & Analysis will be posted SEDAR (www.sedar.com) and also on its own website (www.newlookvision.ca).

Financial analysts and investors are invited to attend this conference call:

CONFERENCE CALL

Time and date: Tuesday, November 10th, 2015 at 1:00 p.m. EST
Dial-in number: 1-877-223-4471 (toll-free)
1-647-788-4922 (long-distance/international)

Media and other interested individuals are invited to listen to the full replay:

Availability dates: November 11th, 2015 (4:00 p.m. EST) to December 1st, 2015 (11:59 p.m. EST)
Access telephone number: 1-800-585-8367 or 416-621-4642
Reservation number: 61712532


As of October 31st, 2015, New Look had 13,419,448 Class A common shares issued and outstanding. New Look is a leader in the eye care industry in Eastern Canada having a network of 193 corporate stores mainly under the New Look, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies.

For additional information please see our website at www.newlook.ca. For enquiries, please contact Lise Melanson at (514) 877-4119.

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NEW LOOK VISION GROUP INC. ANNOUNCES ITS RESULTS FOR THE THIRD QUARTER OF 2015 AND ITS QUARTERLY DIVIDEND

Montréal, Québec, November 9, 2015:New Look Vision Group Inc. (TSX: BCI) (“New Look Vision” or the "Company"), formerly New Look Eyewear Inc., announced today its financial results for the third quarter ended September 26, 2015 and its quarterly dividend.

Third quarter results

New Look Vision reported revenues of $41.4 million and an adjusted EBITDA(1) of $7.1 million for the third quarter ended September 26, 2015 representing increases of 27.3% and 13.9% respectively over last year. The increases were mainly due to the addition of the Greiche & Scaff stores acquired in October 2014 as well as to same store sales growth. Comparable store sales orders(2) for the quarter increased by 3.3% over last year.

Adjusted net earnings(1), that is net earnings adjusted to remove the impact of a tax settlement with Canadian tax authorities, as described in more details below, and acquisition-related costs were $2.2 million or $0.16 per share(3) for the third quarter, down by $67,000 (or $0.01 per share) from last year due to additional depreciation, amortization, and financial expenses stemming from the negative impact of an interest rate swap. This one-time tax settlement resulted in a net loss attributed to shareholders of $641,000 for the quarter or $0.05 per share(3).

Cash flows from operating activities (before changes in working capital) reached $5.7 million or $0.41 per share(3) in the third quarter of 2015 compared to $5.3 million or $0.41 per share last year. The cash flow situation improved despite payments of current income taxes of $1.1 million in the third quarter of 2015 compared to $22,000 last year.

Year-to-date results

Year-to-date revenues and adjusted EBITDA reached $129.9 million and $23.9 million respectively, which represent increases of 30.7% and 22.2% respectively over last year. Net earnings attributed to shareholders of $5.4 million ($0.39 per share)(3) were down compared to $5.8 million last year ($0.44 per share). However, net earnings adjusted to remove the impact of the tax settlement and acquisition-related costs attained $8.5 million, that is $1.8 million over last year. Adjusted net earnings per share (3) increased to $0.62 from $0.51 last year, despite additional depreciation, amortization and financial expenses and additional shares issued over the last four quarters. Same store sales orders year-to-date were up 5.1% over last year.

Cash flows from operating activities (before changes in working capital) increased significantly to $20.8 million or $1.49 per share from $17.8 million or $1.36 per share last year. The cash flow situation improved despite payments of current income taxes of $2.4 million compared to $11,000 last year.

More detail on the financial performance of the third quarter and the year-to-date period are available in the attachments.

Settlement with the Canada Revenue Agency

New Look Vision has recently reached an agreement with the Canada Revenue Agency (CRA) regarding the use of tax attributes resulting from the amalgamation with Sonomax Hearing Healthcare Inc. (Sonomax) in March 2010 further to the conversion of the former trust known as Benvest New Look Income Fund into the current corporation. Under the settlement agreement, the CRA will not challenge the use of the tax attributes for the 2010, 2011 and 2012 taxation years and the Company will relinquish the right to use the tax attributes for the 2013, 2014 and following taxation years.

Based on this agreement and a similar agreement expected to be reached with provincial tax authorities, New Look Vision recorded in the third quarter of 2015 an additional tax expense of $2.6 million along with estimated accrued interest of $0.2 million.The Company intends to pay these balances in the fourth quarter of 2015.

President's comments

Antoine Amiel, the President of New Look Vision, stated that: “New Look Vision Group delivered another solid quarter for revenues and profitability, due to its operational focus, aggressive growth strategy and timely integration of acquired business units. We continue to monitor the opportunities arising from the ongoing consolidation of the Canadian retail optical industry. In the quarter, we also reached a settlement with the Canada Revenue Agency regarding the use of tax attributes resulting from the amalgamation with Sonomax Hearing Healthcare Inc.”

Dividend approval

Following the approval of the results of the third quarter of 2015 and taking into account the solid cash inflows from operations in the quarter, the Board of Directors of New Look Vision approved the payment of a dividend of $0.15 per Class A common shares payable on December 31, 2015 to the shareholders of record as of December 21, 2015. The dividend has been designated as an “eligible dividend”, that is a dividend entitling shareholders who are Canadian resident individuals to a higher dividend tax credit.

Through the dividend reinvestment plan implemented in 2014, shareholders residing in Canada may elect to re-invest their cash dividends into New Look Vision shares, without incurring brokerage commissions, fees and transaction costs. Until any further announcement, shares will be issued from treasury at 95% of the weighted average trading price for the five days preceding the dividend payment date. Any shareholder wishing to benefit from this opportunity may do so through his or her broker.

Attachments

- Table A - Highlights

- Table B - Consolidated Statement of Earnings

- Table C - Reconciliation of Net Earnings to Adjusted EBITDA

- Table D – Reconciliation of Net Earnings to Adjusted Net Earnings

1) EBITDA, Adjusted EBITDA and adjusted net earnings are not recognized measures under IFRS and may not be comparable to similar measures used by other entities. See Table C and Table D attached for a reconciliation of net earnings to these measures.
2) Refer to footnote a) in Table A for the definition of comparable stores and how management measures comparable store performance.
3) Per share amounts are expressed on a diluted basis.


As of September 30, 2015, New Look Vision had 13,419,448 Class A common shares issued and outstanding. New Look Vision is a leader in the eye care industry in Eastern Canada comprised of a network of 192 corporate stores mainly under the New Look Eyewear, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies. Tax information regarding payments to shareholders is available at www.newlookvision.ca in Investors Relation section.

All statements other than statements of historical fact contained in this press release are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look Vision. Readers can identify many of these statements by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “plans”, “may”, “would” or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will be achieved. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look Vision believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look Vision’s current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look Vision undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law.

For additional information please see our Web site www.newlook.ca. For enquiries, please contact Lise Melanson (514) 877-4299, ext. 2234.

X
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NEW LOOK VISION GROUP INC. AGREES TO ACQUIRE FORWARD VISION GROUP INC .

Montréal, Québec, December 21, 2015: New Look Vision Group Inc. (TSX: BCI) (“New Look Vision” or the "Company"), announced today that it has entered into a definitive agreement to acquire the retail optical assets and business forming part of Forward Vision Group Inc. carrying on business principally under the iVision banner in southwestern Ontario. Founded in 1989 by the Catton family and based in London, Ontario, the business is a leading local player in the retail optical market stretching from London eastwards through to the greater metropolitan Toronto area. The target has 15 locations, 11 operating under the iVision banner in local communities, including London, Kitchener, Waterloo, Guelph, Brantford, Burlington and Oakville. Revenues for the twelve months ended September, 2015 are estimated to be $8 million. Vogue Optical Group Inc., a subsidiary of New Look Vision, will be responsible for operating this business. The purchase price will be $13 million, subject to customary price adjustments and will be financed by New Look Vision from current banking facilities.

Antoine Amiel, President and Director of New Look Vision stated that: “This is a very important strategic step into the southwestern Ontario market and will be a solid platform for staging further significant growth in this area. This is further evidence of our intent to become a major national player in Canada.”

John MacLeod, President of Vogue Optical Group Inc. added: “We are very much looking forward to working with the operations team at iVision in order to expand on the current success of the business.”

The acquisition of iVision is expected to close on or about February 1st, 2016.


As of November 30, 2015, New Look Vision had 13,419,448 Class A common shares issued and outstanding. New Look Vision is a leader in the eye care industry in Eastern Canada comprised of a network of 193 corporate stores mainly under the New Look Eyewear, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies. Tax information regarding payments to shareholders is available at www.newlookvision.ca in the Investors section.

All statements other than statements of historical fact contained in this press release are forward-looking statements, including, without limitation, statements regarding the future financial position, business strategy, projected costs and plans and objectives of, or involving New Look Vision. Readers can identify many of these statements by looking for words such as “believe”, “expects”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “plans”, “may”, “would” or similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will be achieved. Forward-looking statements are subject to risks, uncertainties and assumptions. Although management of New Look Vision believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Some of the factors which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include: pending and proposed legislative or regulatory developments, competition from established competitors and new market entrants, technological change, interest rate fluctuations, general economic conditions, acceptance and demand for new products and services, and fluctuations in operating results, as well as other risks included in New Look Vision’s current Annual Information Form (AIF) which can be found at www.sedar.com. The forward-looking statements included in this press release are made as of the date hereof, and New Look Vision undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as provided by law.

For additional information please see our Web site www.newlookvision.ca. For enquiries, please contact Lise Melanson (514) 877-4119.