Binovi Secures VIMA Rev Strobe Lenses Through Acquisition and Announces Private Placement

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OAKVILLE, Ontario, Canada—Binovi Technologies Corp. (TSX-V:VISN | OTCQB: EYCCF), formerly Eyecarrot Innovations Corp., announced it has signed a binding share purchase agreement to acquire a private entity which owns VIMA Rev Strobe Lenses, its related patents, associated intellectual property, and available inventory. Details of the transaction were not disclosed. The move further bolsters Binovi’s neuro-vision technology stack as the company continues to execute upon its global commercialization strategy, Binovi said in a statement. The transaction will further strengthen Binovi’s acquisition history, representing continuous investment growth within human performance software and technology.

VIMA Rev Strobe Lenses enhance sensory skills by removing milliseconds of visual information. As the Rev lenses strobe, the brain is forced to work with less visual information stimulating hyper-efficient decision making and reaction. The strobe lens technology is easily applied to sports performance, rehabilitative and smart learning educational environments.

Developed by Nike’s former global director of vision science and his team of sport science experts, the VIMA Rev Strobe Lenses are an integrated strobe training system that stimulates neuro-cognition through vision training. The lightweight, durable eyewear has been refined over three decades offering two styles; one for sport and one for tactical (ballistics) disciplines such as competitive shooting, military, and first responders. Each style pairs with an iOS- and Android-compatible app, allowing users to individualize training experiences while remaining hands-free.

VIMA’s technology will “seamlessly integrate” into the Binovi product platform, Binovi said. Vision training stimulates “perceptual learning,” as it relates to the brain’s ability to improve perception through neuro-vision training. The intended result is to enhance the brain’s visual processing speed and accuracy through various exercises. These performance improvements represent fine tuning of existing processing skills, according to Binovi.

The acquisition and integration of the VIMA Rev Strobe Lenses under the Binovi umbrella provides Binovi an additional toolset to expand its offering through being able to enhance performance of the visual system. With over 1,000 VIMA Rev strobes in the market, Binovi plans to engage existing customers, while attracting new clients to Binovi product offerings.

Current VIMA Rev strobe users include the NHL's Colorado Avalanche, the NBAs Golden State Warriors, Chicago Bulls, Milwaukee Bucks and Mamba Sports Labs, a Kobe Bryant Enterprise. Additionally, the U.S. Seal Team 6 Military Installation and the U.S. Army Rangers utilize the strobe technology.

As consideration for the acquisition, Binovi will issue an aggregate of 18,900,000 common shares, equivalent to approximately $4.2M USD, at a deemed price of $0.30 CAD to the shareholders of the private entity owning VIMA Rev Strobe Lenses, subject to the approval of the TSX Venture Exchange.