New Look Eyewear Inc. Completes Acquisition of Vogue Optical

MONTRÉAL, QUÉBEC--(Marketwired - Dec. 2, 2013) - New Look Eyewear Inc. (TSX:BCI) ("New Look") announced today that it has completed its acquisition of the assets and business of Vogue Optical Inc. of Charlottetown, Prince Edward Island. As previously announced, the purchase price was $74 million, subject to normal adjustments. The combined entity will have revenues exceeding $128 million and a store network in excess of 140 locations, making it the third largest Canadian integrated retail optical company and the eight largest in North America. It will be the most important player in Québec and the Atlantic provinces.

As previously announced, New Look financed the acquisition through new credit facilities and the private placement of 2,155,172 subscription receipts at a price of $11.60 per subscription receipt. These subscription receipts have been exchanged today into 2,155,172 Class A common shares of New Look. As a result thereof, New Look has issued and outstanding as of this date 12,616,661 Class A common shares.

New Look is a leader in the eye care industry in Eastern Canada having a network of 74 corporate stores under the New Look banner, two affiliated clinics and a laboratory using state-of-the-art technologies and also 65 stores under the Vogue Optical banner and a lens manufacturing facility. It is the most important player in Québec and the Atlantic provinces

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 additional information please see our Web site at www.newlook.ca.