New Look Vision Group Inc.
TSX : BCI

New Look Vision Group Inc.

April 07, 2016 20:32 ET

New Look Vision Group Inc. Adds to Greater Montreal Market Presence

MONTRÉAL, QUÉBEC--(Marketwired - April 7, 2016) - New Look Vision Group Inc. (TSX:BCI) ("New Look Vision"), announced today that it has recently completed the acquisition of five additional retail optical outlets operating in the greater Montreal, Quebec region. Formerly operating under the ZYEU Optometrists banner, three of the new stores will operate under the Greiche & Scaff banner, one under the New Look Eyewear banner and the remaining store will be independently bannered. Estimated annual revenues for the stores is $5.1 million and the purchase price was $5.3 million, financed from internal cash resources.

Antoine Amiel, President and Director of New Look Vision stated that: "The addition of these five locations adds greater depth to our overall Montreal area market presence, including stores at Marché Central, St. Bruno, Lachenaie, Laval and Repentigny and confirms our number one position in the key metropolitan area in Eastern Canada."

As of March 31st, 2016, New Look Vision had 13,529,772 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 212 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.

Contact Information

  • For enquiries, please contact
    Lise Melanson
    (514) 877-4119