Mr. Dean Burns reports

OCUMETICS ANNOUNCES COMPLETION OF UNIT PRIVATE PLACEMENT

Ocumetics Technology Corp. has completed the private placement previously announced by the corporation on June 22, 2023.

The corporation issued an aggregate of 3,333,333 units pursuant to the private placement, at a price of 30 cents, for total gross proceeds of $1-million. Each unit consists of one common share in the share capital of the corporation and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at an exercise price of 60 cents for a period of two years from the date of issuance of the warrant.

The corporation completed an initial tranche of the private placement on July 21, 2023, whereby it issued an aggregate of 1,880,868 units for aggregate gross proceeds of $564,260.40.

On Aug. 14, 2023, the corporation completed a second tranche of the private placement to issue a further 1,452,465 units for aggregate gross proceeds of $435,739.60.

The corporation paid a finder's fee to Leede Jones Gable Inc. consisting of cash commissions of $852.99.

One hundred per cent of the net proceeds are expected to be used for continuing research and development although the actual allocation of proceeds may vary from the uses set out above, depending upon future operations, events or opportunities.

All securities issued under the private placement are subject to a hold period of four months and one day.

Closing of the private placement was subject to the conditional approval from the TSX Venture Exchange, which was obtained.

About Ocumetics Technology Corp.

Ocumetics (TSX Venture Exchange: OTC) (OTCQB: OTCFF) (Frankfurt Stock Exchange: 2QBO) is a Canadian research and product development company that specializes in adaptive lens designs. Ocumetics is in the preclinical-study stage of a game-changing technology for the ophthalmic industry. Ocumetics has developed an expandable intraocular lens that fits within the natural lens compartment of the eye potentially to eliminate the need for corrective lenses. It is designed to allow the eye's natural muscle activity to shift focus from distance to near.

We seek Safe Harbor.