Core Viewpoint - Ocumetics Technology Corp. has successfully completed the first tranche of a private placement, raising a total of $1,124,362 through the issuance of 3,212,462 units at a price of $0.35 per unit [1][2]. Group 1: Private Placement Details - The units issued consist of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of an additional common share at an exercise price of $0.50 for 24 months [2]. - The total offering aims to raise up to $2,100,000 by issuing up to 6,000,000 units at the same price, with the remaining tranches to be closed subsequently [5]. - The net proceeds from the offering are intended for ongoing research and development, although actual allocation may vary based on future operations [5]. Group 2: Agent and Related Transactions - Ocumetics paid $68,610 to Numus Capital Corp. for their services as an agent and issued warrants allowing Numus Capital to purchase up to 196,029 common shares at $0.50 per share for 24 months [3]. - The private placement involved a related party transaction, as a director of the Corporation participated, and the transaction was approved unanimously by the board [6]. Group 3: Company Overview - Ocumetics Technology Corp. is focused on developing advanced vision correction solutions, including innovative intraocular lenses aimed at enhancing the quality of life for patients [7][8]. - The company is currently in the preclinical study stage of a technology designed to potentially eliminate the need for corrective lenses by allowing the eye's natural muscle activity to shift focus [9].
Ocumetics Announces Completion of First Tranche of Unit Private Placement
Thenewswireยท2025-07-17 13:00