OTC:CC - Ocumetics Announces Issuance of Shares

(TheNewswire)

Calgary, Alberta – TheNewswire - June 2, 2023 - Ocumetics Technology Corp. (TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) (the “ Corporation ” or“ Ocumetics ”) announces that it has issued 882,353 Common Shares toDr. Mark Lee and 835,294 Common Shares to Roger Jewett.  The proposedissuance of the shares was announced in the Corporation’s pressrelease dated April 24, 2023.  The TSX Venture Exchange approved theissuance of the shares.

Related Party Transactions

Mark Lee is the President and CEO of the Corporationand Roger Jewett is the Chief Financial Officer of the Corporation. The issuance of shares to them therefore constitute “Related PartyTransactions” under Multilateral Instrument 61-101 – Protection ofMinority Security Holders in Special Transactions (“MI 61-101”). The Corporation relied upon the exemptions from the minorityshareholder approval and valuation requirements set out in Sections5.7(1)(a) and 5.5(a), respectively, of MI 61-101.  The shareissuances were unanimously approved by the directors of theCorporation by resolution.

About Ocumetics

Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF)(FRA: 2QBO) is a Canadian research and development company thatspecializes in adaptive intraocular lens designs. Ocumetics is in thepreclinical study stage of a game-changing technology for theophthalmic industry.  Ocumetics has developed an expandableintraocular lens that fits within the capsular bag followingextracapsular cataract extraction.  It is designed to allow the eyesnatural muscle activity to shift focus from distance to near,potentially to eliminate the need for corrective lenses.

FOR FURTHER INFORMATION, PLEASECONTACT:

Dayton Marks, Director

(778) 347-2500

Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release

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