Ocumetics Technology Corp.

  

Calgary, AlbertaTheNewswire – October 19, 2022 – Ocumetics Technology Corp. (“Ocumetics” or the “Corporation”) (TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) announces that it proposes to complete a non-brokered private placement of up to 5,000,000 units of the Corporation (“Units”) at a price of $0.45 per Unit for gross proceeds of up to $2,250,000.  There will be no minimum subscription level for this offering.  Each Unit will consist of one common share in the share capital of the Corporation (“Common Share”) and one-half of one common share purchase warrant.  Each whole warrant (“Warrant”) will entitle the holder to purchase one additional Common Share at an exercise price of $0.90 for a period of two years from the date of issuance of the Warrant.

The Corporation may pay finder’s fees on all or a portion of the private placement to eligible persons seeking subscribers to the financing, all in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the “Exchange”).  

Assuming the maximum offering is completed, 100% of the net proceeds are expected to be used for ongoing research and development. Although the Corporation intends to use the proceeds of the offering as described above, the actual allocation of proceeds may vary from the uses set out above, depending upon future operations, events or opportunities.

About Ocumetics

 

Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) is a Canadian research and product development company that specializes in adaptive lens designs.  Ocumetics is in the preclinical study stage of a game-changing technology for the ophthalmic industry.  Ocumetics has developed an expandable intraocular lens that fits within the natural lens compartment of the eye potentially to eliminate the need for corrective lenses.  It is designed to allow the eye’s natural muscle activity to shift focus from distance to near.  

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dr. Mark Lee                                Mr. Dayton Marks

President and CEO                        Director

(604) 832-6052                                (778) 347-2500

   

Neither the 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.

 

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation.  Forward-looking statements include, but are not limited to, statements with respect to the commencement, timing and scope of the clinical trial program outlined above and that it will be conducted as expected.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: operational matters, historical trends, current conditions and expected future developments, access to financing as well as other considerations that are believed to be appropriate in the circumstances.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.  The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

  

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