Ocumetics Technology Corp raises $2.5 million in private placement

Ocumetics Technology Corp. announced the completion of the second tranche of its private placement, issuing 6,250,000 units at $0.40 each and generating $2.5 million in gross proceeds. The offering now totals $2,948,130, with a maximum capacity of 8,000,000 units for up to $3.2 million. Each unit includes one common share and one common share purchase warrant, the latter exercisable at $0.50 for three years and subject to an acceleration clause if the TSX Venture Exchange share price reaches $0.75 for 30 consecutive days.

The company paid $200,000 in cash commissions to Ventum Financial Corp. and issued 500,000 warrants for its assistance. Net proceeds are earmarked for the continuation of first‑in‑human clinical trials of Ocumetics’ dynamic intraocular lens, ongoing research and development, and general working capital. Ocumetics is headquartered in Calgary, Alberta, and trades on the TSX Venture Exchange.