Ocumetics Announces Completion of Second Tranche of Debenture Private Placement for Net Proceeds of CA$940,000
Summary
Although the Corporation intendsto use the proceeds of the offering as described above, the actualallocation of proceeds may vary from the uses set out above, dependingupon future operations, events or opportunities.Closing of the Private Placement was subject to theconditional approval from the TSX Venture Exchange, which wasobtained.We are excited to fill 100% of our announced $4million financing, says Dean Burns, President and CEO of Ocumetics.We are now busy planning our first in-human trials in the DominicanRepublic expected later this year and will provide regular updates aswe make progress, adds Burns.Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO)is a Canadian research and product development company thatspecializes in adaptive lens designs. It isdesigned to allow the eyes natural muscle activity to shift focusfrom distance to near.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 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. 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.