Eyecarrot Announces Withdrawal of Short Form Prospectus Offering; Arrangement of Non-Brokered Placement to Raise $10 Million

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VANCOUVER, B.C., CANADA / TheNewswire / October 12, 2018 - Eyecarrot Innovations Corp. (the "Company" or "Eyecarrot") (TSXV: EYC) (OTCQB: EYCCF), announces that further to its press release dated September 7, 2018, the Company has determined that, in light of current investment conditions, not to proceed with its previously announced offering of units at this time and is withdrawing its preliminary short form prospectus previously filed on September 7, 2018. The Company intends instead to proceed with a non-brokered private placement to raise up to $10 million through the issuance of up to 55,555,555 units at a price of $0.18 per unit (the "Non-Brokered Offering").

Each Unit will consist of one common share of the Company (each a "Share"), and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Share (each, a "Warrant Share") at an exercise price of $0.30 per Warrant Share at any time up to 24 months following the closing date of the Offering (the "Closing Date"). The completion of the Offering is subject to the approval of the TSX Venture Exchange.

Finder's fees may be paid in association with the Non-Brokered Offering in accordance with the policies of the TSX Venture Exchange.

The Company intends to use the net proceeds of the Non-Brokered Offering for completion of its short term objectives regarding product development and marketing and for working capital purposes.

On behalf of the Board of Directors

Adam Cegielski

President | CEO

Telephone: 1.855.416.7158 - 416.943.6271

Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. In particular, this news release contains forward-looking information relating to the Non-Brokered Offering, the use of the net proceeds from the Non-Brokered Offering, the timing and ability of the Company to close the Non-Brokered Offering, if at all, the number of Units to be sold under the Non-Brokered Offering, the gross proceeds of the Non-Brokered Offering, the timing and ability of the Company to obtain all necessary approvals, the terms of the Non-Brokered Offering and any other information contained herein that is not a historical fact. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile onwww.sedar.com. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by 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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