Ocumetics Announces Proposed Forbearance Agreement for $4 million Secured Convertible Debentures

(TheNewswire)

Calgary, Alberta – January 30, 2026 – TheNewswire- Ocumetics Technology Corp. (“Ocumetics” or the“Corporation”) (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) announces that itis seeking approval from the TSX Venture Exchange (the “Exchange”) withrespect to a forbearance agreement to be entered into between theCorporation and the holders of secured convertible debentures (the“Debentures”) that were issued by the Corporation in May and June 2024(see press releases dated May 15, 2024, May 23,2024 and June 21, 2024).  Under the proposedforbearance agreement, it is proposed that the Debentureholders willforbear from demanding payment of the Debentures and from taking anysteps to realize upon any security granted in respect of theDebentures until June 19, 2027 notwithstanding the maturity of theDebentures.  

The Debentures have an aggregate face value principalamount of up to $4,000,000 (the “Principal”). TheDebentures bear interest at rate of 18% per annum, compoundedannually.  Subject to the forbearance, the Debentures will mature,and Principal and interest will be payable by the Corporation, on thedate which is two years from the date of issue (the “Maturity Date”). The Corporation may prepay the indebtedness under the Debentures atany time upon ninety (90) days prior written notice, without penalty.

Principal is convertible at the option of the holderinto common shares of the Corporation at a conversion price of $0.32per share to and including the Maturity Date.  Interest will beconvertible into common shares of the Corporation pursuant to sharesfor debt applications, from time to time, at the option of thedebentureholders.  Such shares for debt applications will be subjectto the approval of the Exchange.  The Debentures are secured by ageneral security agreement on the personal property of the Corporationamong other things.

In consideration for the within forbearance, subject tothe approval of the Exchange, the Corporation is proposing to issue toeach Debentureholder such number of share purchase warrants(“Warrants”) equal to the Principal of its Debenture plus accruedinterest to and including the date the Warrants are issued, divided by$0.58. It is proposed that each Warrant would entitle the holderthereof to purchase one common share at an exercise price of $0.58until the earlier of (a) June 19, 2027 or (b) the date upon which theindebtedness has been fully repaid (the “Expiry Date”), suchExpiry Date being subject to acceleration in accordance with Section2.2(e) of Policy 5.1 of the Exchange.

About Ocumetics

Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF)(FRA: 2QBO) is a Canadian research and product development companythat is dedicated to developing advanced vision correction solutionsthat enhance the quality of life for patients. Through innovativeresearch and development, Ocumetics aims to transform the field ofophthalmology with state-of-the-art intraocular lenses and othervision-enhancing technologies.

Ocumetics is in the first-in-human early feasibilitystudy phase of a game-changing technology for the ophthalmic industry.Ocumetics has developed an intraocular lens that fits within thenatural lens compartment of the eye, potentially to eliminate the needfor corrective lenses. It is designed to allow the eye’s naturalmuscle activity to shift focus from distance to near, providing clearvision at all distances without the help of glasses or contact lenses. 

FOR FURTHER INFORMATION, PLEASECONTACT:

Dean Burns

President and CEO

(817) 874-7564

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 Exchange approval or the issuance ofwarrants.  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 Corporationdisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, except as required by law.

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