OTC:CC - Ocumetics Announces Private Placement
(TheNewswire)
Calgary, Alberta – TheNewswire - October 19, 2022 - Ocumetics Technology Corp.(“ Ocumetics ” or the “ Corporation ”) ( TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) announces that it proposesto complete a non-brokered private placement of up to 5,000,000 unitsof the Corporation (“ Units ”) at a price of $0.45 per Unit forgross proceeds of up to $2,250,000. There will be no minimumsubscription level for this offering. Each Unit will consist of onecommon share in the share capital of the Corporation (“ Common Share ”) andone-half of one common share purchase warrant. Each whole warrant(“ Warrant ”) will entitle the holder to purchase one additionalCommon Share at an exercise price of $0.90 for a period of two yearsfrom the date of issuance of the Warrant.
The Corporation may pay finder’s fees on all or aportion of the private placement to eligible persons seekingsubscribers to the financing, all in accordance with applicablesecurities laws and the policies of the TSX Venture Exchange (the“ Exchange ”).
Assuming the maximum offering is completed, 100% of thenet proceeds are expected to be used for ongoing research anddevelopment. Although the Corporation intends to use the proceeds ofthe offering as described above, the actual allocation of proceeds mayvary 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 thatspecializes in adaptive 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 natural lens compartment of theeye potentially to eliminate the need for corrective lenses. It isdesigned to allow the eye’s natural muscle activity to shift focusfrom distance to near.
FOR FURTHER INFORMATION, PLEASECONTACT:
Dr. Mark Lee Mr. Dayton Marks
President and CEO Director
(604) 832-6052 (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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKINGINFORMATION: This news release includes certain “forward-lookingstatements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to,statements with respect to the commencement, timing and scope of theclinical trial program outlined above and that it will be conducted asexpected. Forward-looking statements are necessarily based upon anumber of estimates and assumptions that, while considered reasonable,are subject to known and unknown risks, uncertainties, and otherfactors which may cause the actual results and future events to differmaterially from those expressed or implied by such forward-lookingstatements. Such factors include but are not limited to: operationalmatters, historical trends, current conditions and expected futuredevelopments, access to financing as well as other considerations thatare believed to be appropriate in the circumstances. There can be noassurance that such statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required bylaw.
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