Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) announced on July 31, 2026, that it has completed the second tranche of its previously announced private placement, raising an additional $2.5 million in gross proceeds. The company, which is developing a dynamic intraocular lens designed to eliminate the need for corrective lenses, has now raised a total of $2,948,130 under the offering.
The second tranche consisted of 6,250,000 units at a price of $0.40 per unit. Each unit includes one common share and one common share purchase warrant, with each warrant entitling the holder to purchase an additional common share at an exercise price of $0.50 for three years. The warrants are subject to an acceleration clause: if the volume-weighted average trading price of the common shares on the TSX Venture Exchange reaches at least $0.75 per share for 30 consecutive trading days, the corporation may accelerate the expiry date of the warrants to a date not less than 30 days after notice is provided.
In connection with the offering, Ocumetics paid Ventum Financial Corp. cash commissions of $200,000 and issued 500,000 warrants for its assistance in finding subscribers. The total offering is for up to 8,000,000 units, with a maximum gross proceeds of $3,200,000. The company intends to close the remaining portion in one or more subsequent tranches.
The net proceeds from the offering are expected to be used to fund the company’s continuing first-in-human clinical trials, ongoing research and development, and general working capital. Ocumetics is currently in the early feasibility study phase of its dynamic intraocular lens, which fits within the natural lens compartment of the eye. The lens is designed to use the eye’s natural muscle activity to shift focus from distance to near, potentially providing clear vision at all distances without glasses or contact lenses and without perceptible time lag.
This funding is crucial for advancing the clinical trials, which are a key step toward regulatory approval and eventual commercialization. If successful, the technology could transform the field of ophthalmology by offering a revolutionary alternative to traditional vision correction methods. However, the company cautions that forward-looking statements regarding the timing and scope of its clinical trials are subject to risks and uncertainties, including access to financing and operational matters.
The closing of the offering was subject to conditional approval from the TSX Venture Exchange, which was obtained. The common shares and warrants issued in this tranche are subject to a hold period of four months and one day from the date of issuance, with warrants issued to finders being non-transferable.
Ocumetics Technology Corp. is a Canadian research and product development company dedicated to developing advanced vision correction solutions. With this additional capital, the company is positioned to continue its pioneering work in intraocular lens technology, potentially changing the lives of millions who depend on corrective lenses.
