Ocumetics Strengthens Balance Sheet with $1.4M Debt Conversion

Ocumetics Technology Corp., a Canadian developer of advanced vision restoration technologies, announced a significant debt conversion that strengthens its balance sheet ahead of key patient study milestones. Debentureholders converted $1.4 million of principal into common shares at $0.32 per share, issuing 4,375,000 shares and reducing outstanding debenture principal by 35%. This conversion, representing 35% of the Company’s previously outstanding $4 million debenture principal, underscores investor confidence in Ocumetics' long-term vision, according to President and CEO Dean Burns. The move improves financial flexibility, reduces interest costs, and aligns investor interests with the Company’s clinical development objectives.

Ocumetics is advancing its first-in-human early feasibility study for a dynamic intraocular lens that fits within the eye's natural lens compartment. This game-changing technology aims to eliminate the need for corrective lenses by allowing the eye's natural muscle activity to shift focus from distance to near without perceptible time lag. The Company is also preparing for an Investigational Device Exemption (IDE) submission to the U.S. FDA, a critical regulatory milestone. The debt-to-equity conversion positions Ocumetics to focus on these milestones, with the goal of transforming ophthalmology through state-of-the-art vision-enhancing technologies.

For further information, contact Director of Investor Relations David Burwell. The original release is available on NEWMEDIAWIRE. This news reflects Ocumetics' commitment to innovation and financial prudence as it progresses toward regulatory approvals and potential market entry.