Eyecarrot Announces Fully Subscribed Private Placement and Microsoft BizSpark Partnership

TORONTO, May 5, 2016 /CNW/ - Eyecarrot Innovations Corp (TSX-V: EYC) is pleased to announce a fully subscribed private placement of $1,600,000 through the sale of 4,000,000 shares at a price of $0.40 per share. The proceeds will be used for the furtherance of the Company's business plan.

The Company also announced a partnership with Microsoft as a member of its BizSpark Plus Program, valued at $500,000 in services, software and support from advisors. This relationship will help Eyecarrot to enhance its technology platform and provide valuable resources to accelerate product development.

"We are proud to see ever-growing endorsement of our vision and confidence in our ability to execute on our business goals," said Adam Cegielski, Founder and CEO of Eyecarrot.

About Eyecarrot

Eyecarrot is building the Binovi^TM Cloud, a universal system for testing and measuring a human's Oculomotor Sensory System and connects patients, vision care practices and specialized vision performance centers of excellence on a common data and technology platform. Follow our story and learn more on our updated website, www.eyecarrot.com

On behalf of the Board of Directors

Adam Cegielski
President | CEO
Telephone: [phone]

Forward looking information

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com . The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Eyecarrot Innovations Corp.

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