NEW LOOK VISION GROUP INC.
COMPLETES ACQUISITION OF FORWARD VISION GROUP INC.
Montréal, Québec, February 9, 2016: New Look Vision Group Inc. (TSX: BCI) (“New Look Vision”), announced today that it has completed its acquisition of the retail optical assets and business forming part of Forward Vision Group Inc. carrying on business principally under the iVision banner in south western Ontario at 15 retail locations. As previously announced, the purchase price was $13 million subject to customary adjustments and was financed by New Look Vision from its current banking facilities.
Antoine Amiel, President and Director of New Look Vision stated that: “With this acquisition completed, New Look Vision establishes a further foothold in Ontario, Canada’s most populated province, and continues its expansion across Canada.”
As of January 31st, 2016, New Look Vision had 13,461,866 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 208 corporate stores mainly under the New Look Eyewear, Vogue Optical and Greiche & Scaff banners and laboratory facilities using state-of-the-art technologies.
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.
Tax information regarding payments to shareholders is available at www.newlookvision.ca in the Investors section.
For additional information please see our Web site www.newlookvision.ca. For enquiries, please contact Lise Melanson (514) 877-4119.