Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) has announced the completion of the second tranche of its unit private placement, raising gross proceeds of $2.5 million. The company issued 6,250,000 units at a price of $0.40 per unit, with each unit consisting of one common share and one common share purchase warrant. The warrants allow holders to purchase an additional share at $0.50 for three years from issuance.
This tranche brings the total raised under the offering to $2,948,130, with the company targeting up to $3.2 million. The remaining units are expected to be sold in subsequent tranches. The offering was previously announced on July 7, July 29, and July 30, 2026, and has received conditional approval from the TSX Venture Exchange.
The net proceeds are slated to fund the company’s ongoing first-in-human clinical trials, research and development, and general working capital. Ocumetics is developing a dynamic intraocular lens designed to fit within the eye’s natural lens compartment, potentially eliminating the need for corrective lenses. The lens uses the eye’s natural muscle activity to shift focus from distance to near, providing clear vision at all distances without glasses or contact lenses.
In connection with the offering, Ocumetics paid a cash commission of $200,000 and issued 500,000 warrants to Ventum Financial Corp. for its assistance in finding subscribers. The warrants are subject to an acceleration clause that could shorten their expiry if the company’s shares trade at or above $0.75 for 30 consecutive trading days.
The securities issued are subject to a four-month and one-day hold period from the date of issuance. The company’s shares trade on the TSX Venture Exchange under the symbol OTC, on the OTCQB under OTCFF, and on the Frankfurt Stock Exchange under 2QBO.
Ocumetics is a Canadian research and development company focused on advanced vision correction solutions. Its technology aims to transform ophthalmology by providing a state-of-the-art intraocular lens that could reduce dependence on glasses and contacts. The successful completion of this financing is a crucial step in advancing the clinical trials that will determine the safety and efficacy of this innovative lens.
