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File: 20161206 Eyecarrot Closes Private Placement Final.docx

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December 6, 2016



EYECARROT CLOSES PRIVATE PLACEMENT

Toronto, Ontario - Eyecarrot Innovations Corp (TSX-V: EYC) ("The Company") is pleased to announce that it has complete
--->d the previously announced non-brokered private placement for total proceeds of $1,260,800. The Company issued a total
---> of 8,405,332 Units at a price of $0.15 per Unit, each Unit being comprised of one common share and one common share p
--->urchase warrant, exercisable into one common share for a period of 24 months at an exercise price of $0.25.

No finder's fees, broker's fees or commissions were paid in connection with the offering. 

All securities issued in connection with the Private Placement are subject to a four-month hold period expiring on Apr
--->il 3, 2017. Further restrictions may apply to certain subscribers under foreign securities laws. 

Insiders participated in the Private Placement acquiring an aggregate of 932,667 shares on the same basis as other sub
--->scribers. The participation in the Private Placement by insiders of the Company constitutes a "related party transacti
--->on" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special 
--->Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority approval requi
--->rements under MI 61-101. The Company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation 
--->requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of 
--->MI 61-101 as the fair market value of the transaction insofar as the transaction involved interested parties did not e
--->xceed 25% of the Company's market capitalization.

A material change report in connection with the Private Placement will be filed less than 21 days before the closing o
--->f the Private Placement. This shorter period is reasonable and necessary in the circumstances as the Company wished to
---> complete the Private Placement in a timely manner.
About Eyecarrot
Eyecarrot's goal is to power a global, data-driven, expert therapeutic network to transform how human Oculomotor Senso
--->ry performance is diagnosed, exercised and enhanced. The company is building BinoviTM, a universal, collaborative care
---> platform that integrates software, hardware, data and the expert knowledge and insights of vision care professionals 
--->to help patients on a global scale. Follow our story and learn more at www.eyecarrot.com 

On behalf of the Board of Directors

Adam Cegielski 
President | CEO
Telephone: 1.855.416.7158 - 416.943.6271


Forward looking information 

Certain statements contained in this news release constitute "forward-looking information" as such term is used in app
--->licable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of managem
--->ent at the date the information is provided and is subject to certain factors and assumptions, including, that the Com
--->pany's financial condition and development plans do not change as a result of unforeseen events and that the Company o
--->btains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other f
--->actors that could cause plans, estimates and actual results to vary materially from those projected in such forward-lo
--->oking information. Factors that could cause the forward-looking information in this news release to change or to be in
--->accurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or re
--->liable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned wo
--->rk, 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 filin
--->gs filed under the Company's profile at www.sedar.com . The Company undertakes no obligation to update these forward-l
--->ooking 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.