Vancouver, British Columbia--(Newsfile Corp. - November 20, 2024) - This press release is related to the securities of Oculus VisionTech Inc. ("Oculus" or the "Company"). Mr. Anton J. Drescher, Chief Financial Officer, Corporate Secretary and a director of the Company, announces the filing of an early warning report (the "Early Warning Report") pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") and National Instrument 62-104 - Take-Over Bids and Issuer Bids ("NI 62-104") pursuant to the acquisition of an aggregate of 8,000,000 common shares in the capital of the Company (the "Shares") through a private sale at a price of $0.0717 per Share (the "Acquisition").

Prior to the Acquisition, Mr. Drescher was the beneficial owner of 13,804,504 Shares, representing approximately 15.0997% of the issued and outstanding Shares on an undiluted basis (based on an aggregate of 91,422,569 Share issued and outstanding).

Upon completion of the Acquisition, Mr. Drescher now holds 21,804,504 Shares, representing approximately 23.8502% of the issued and outstanding Shares on an undiluted basis (based on an aggregate of 91,422,569 Shares issued and outstanding).

The Acquisition of the Shares by Mr. Drescher were made in reliance on the "private agreement exemption" from the formal take-over bid provisions of NI 62-104, as outlined in Section 4.2 of Part 4 of NI 62-104. More specifically, (a) the acquisition was made from not more than five (5) persons in the aggregate, including persons located outside the local jurisdiction; (b) the bid was not made generally to security holders of the class of Shares; and (c) the value of the consideration paid for the Shares, including brokerage fees or commissions, was not greater than 115% of the market price of the Shares at the date of the acquisition as determined in accordance with Section 1.11 of NI 62-104.

Mr. Drescher acquired the Shares, for investment purposes. In pursuing such purposes, Mr. Drescher reserves the right to formulate other plans or make other proposals and take such actions deemed necessary with respect to his investment in the Company. Depending on the market conditions and other factors, Mr. Drescher may, from time to time, increase or decrease his beneficial ownership of the securities of the Company as deemed appropriate.

The Company's head office is located at #507 - 837 West Hasting Street, Vancouver, British Columbia, V6C 3N6, Canada.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR DISSEMINATION IN THE UNITED STATES