Binovi Technologies Corp. — Capital/Financing Update 2021

Oct 20, 2021

Binovi Technologies Corp. 574 Chartwell Road Oakville, ON L6J 2X6 Tel: 647 289-6640

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BINOVI TECHNOLOGIES CORP. ANNOUNCES SHARE CONSOLIDATION AND NON-BROKERED COMMON SHARE PRIVATE PLACEMENT

Vancouver, BC, October 20, 2021, Binovi Technologies Corp. (“Binovi” or the “Company’) (TSXV:VISN) (OTCQB:BNVIF) (GR:2EYA) a leader in neuro-vision performance technology, today announces that pursuant to the Company’s October 13, 2021 news release, it is anticipated that the postconsolidated common shares of the Company will commence trading on the TSX Venture Exchange on or around Thursday, October 21, 2021 under the Company’s same name, Binovi Technologies Corp. Shares will continue to trade under the Company’s current ticker symbol “VISN” (the “ Share Consolidation ”). The new CUSIP number will be 09076N208 and the new ISIN number will be CA09076N2086. Following the Share Consolidation, the Company will have approximately 16,580,151 Common Shares issued and outstanding.

A Letter of Transmittal with respect to the Share Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders will be required to send their respective certificates representing the pre-consolidation Common Shares along with a properly executed letter of transmittal to the Company’s transfer agent, Computershare Investor Services Inc. (“ Computershare ”), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare (Corporate Actions 1-800-564-6253 or by e-mail to corporateactions@computershare.com). All shareholders who submit a duly completed letter of transmittal along with their respective pre-consolidation share certificate(s) to Computershare, will receive a postconsolidated share certificate or Direct Registration Advice representing the post-consolidated shares.

No fractional Common Shares will be issued upon the Share Consolidation. In the event a holder of Common Shares would otherwise be entitled to receive a fractional Common Share in connection with the Share Consolidation, the number of Common Shares to be received by such shareholder will be rounded down to the next whole number if that fractional Common Share is less than one half (1/2) of a Common Share, and will be rounded up to the next whole number of Common Shares if that fractional Common Share is equal to or greater than one half (1/2) of a Common Share.

The exercise or conversion price of, and the number of Common Shares issuable under, any convertible securities of the Company will be proportionately adjusted upon the completion of the Share Consolidation.

Common Share Non-Brokered Private Placement

The Company also announces it intends to complete a non-brokered private placement of up to 6,666,667 common shares priced at $0.30 per post-consolidated common share for total gross proceeds of up to $2,000,000. The shares will be subject to a 4 month hold period and the private placement is subject to TSX Venture Exchange approval. Proceeds from the placement will be allocated towards technology development, growth initiatives and working capital purposes.

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Marc Lakmaaker, Interim CEO, stated, “As I mentioned when I took over as Interim CEO, recapitalization was one of the key priorities for the Company. We anticipate closing the placement shortly, which will provide us with the funds towards certain technology development and growth initiatives, as well as for working capital purposes. While short term our focus is on certain housekeeping matters, we are engaged in a number of discussions with potential partners that will enable us to broaden our market reach, expand our ability to execute and position Binovi to engage more deeply with certain market verticals, such as the high-performance arena, in which the Company is experiencing promising traction.”

It is anticipated that Insiders of the Company will participate in this private placement.

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its content.

@BinoviVISN – Twitter & Instagram

About Binovi Technologies Corp.

Binovi Technologies Corp. is focused on neural pathways related to visual performance. The Company is focused on deploying its technology to enhance human performance, employing its neuro-visual technology platform to test, analyze, track, and report on individual cognitive results. The Company’s platform, Binovi Connect, is currently used across the globe by a multitude of users, including optometrists, highperformance sports organizations and for educational purposes. Binovi Connect is digitizing the delivery of healthcare by providing users access to all points of their individual performance from their phone, tablet or desktop computer. Designed for vision optimization and the enhancement of skills related to cognitive performance, Binovi Connect provides measurable results in less time, and with less effort. As a SAAS based solution, the Binovi Connect App is supported by specialized expert knowledge, unique data insights and supporting hardware to deliver customized, one-on-one cognitive training and learning protocols ideal for K-12 Students, Vision Care Specialists, and Sports Performance testing and training.

On behalf of the Board of Directors

Marc Lakmaaker

Interim CEO

• https://www.binovi.com/investor reports/

For further information contact :

Marc Lakmaaker Interim CEO Telephone: 647 289-6640 marc@binovi.com

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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.

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