Mr. Dean Burns reports

OCUMETICS ANNOUNCES SIGNIFICANT DEBT CONVERSION STRENGTHENING BALANCE SHEET AHEAD OF PATIENT STUDY MILESTONES

Ocumetics Technology Corp. debentureholders have converted $1.4-million of their principal into common shares of the company at a price of 32 cents per share, resulting in the issuance of 4,375,000 common shares, in aggregate. The conversion represents 35 per cent of the company's previously outstanding debenture principal of $4-million.

Key highlights

• $1.4-million of debenture principal converted to common shares of Ocumetics;
• Debt conversion represents 35-per-cent reduction in outstanding debenture principal.

"These debenture conversions reflect the confidence our investors and debenture holders continue to show in Ocumetics and our long-term vision," said Dean Burns, president and chief executive officer of Ocumetics. "We are actively managing our investments and stakeholder relationships as we continue to advance our patient study and focus on achieving the next major milestones for the company."

In aggregate, the conversions represent $1.4-million in debenture principal being converted into common shares of the company, significantly strengthening the company's balance sheet as Ocumetics advances toward key milestones in its continuing patient study program.

The conversion of debt into equity is expected to improve the company's financial flexibility and reduce continuing interest costs while aligning investor interests with the continued advancement of Ocumetics's technology platform and clinical development objectives.

The company continues to advance toward key regulatory milestones, including preparation for its planned investigational device exemption (IDE) submission to the United States Food and Drug Administration.

About Ocumetics Technology Corp.

Ocumetics Technology is a Canadian research and product development company that is dedicated to developing advanced vision correction solutions that enhance the quality of life for patients. Through innovative research and development, Ocumetics aims to transform the field of ophthalmology with state-of-the-art intraocular lenses and other vision-enhancing technologies.

Ocumetics is in the first-in-human early feasibility study phase of a game-changing technology for the ophthalmic industry. Ocumetics has developed a dynamic 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, providing clear vision at all distances without the help of glasses or contact lenses, and without perceptible time lag.

We seek Safe Harbor.