Ocumetics Technology Announces Closing of First Tranche of Brokered LIFE Offering Led by Centurion One Capital

Core Viewpoint - Ocumetics Technology Corp. has successfully closed a private placement offering, raising approximately $1,023,830 through the sale of 1,706,383 units, which will be utilized for clinical trials, research and development, and general corporate purposes [1][3][4]. Group 1: Offering Details - The first tranche of the brokered private placement generated gross proceeds of about $788,380, while a concurrent non-brokered private placement added approximately $235,450, totaling around $1,023,830 [1][3]. - Each unit was priced at $0.60 and consists of one common share and one warrant, allowing the purchase of an additional common share at $0.75 until December 30, 2028 [3]. - The company incurred $143,336.17 in commissions and fees related to the offerings, with part of this amount paid in units and additional warrants issued [5]. Group 2: Use of Proceeds - The gross proceeds from the offerings are earmarked for funding the corporation's first-in-human clinical trials, ongoing research and development, and general corporate purposes, although actual allocation may vary [4]. Group 3: Related Party Transactions - Key executives and directors of the corporation participated in the private placement, qualifying it as a "Related Party Transaction" under applicable regulations, with exemptions from minority shareholder approval requirements being utilized [7].