Ocumetics Seeks Approval for Forbearance Agreement on Debentures
Calgary, Alberta — January 30, 2026 — Leads & Copy — Ocumetics Technology Corp. is seeking approval from the TSX Venture Exchange regarding a forbearance agreement with holders of secured convertible debentures issued in May and June 2024.
The proposed agreement would allow debenture holders to refrain from demanding payment or taking steps to realize security on the debentures until June 19, 2027, despite their maturity.
The debentures have an aggregate face value principal amount of up to $4,000,000 and bear interest at 18% per annum, compounded annually. With the forbearance, the principal and interest will be payable on the date two years from the date of issue. Ocumetics can prepay the debt at any time with 90 days’ written notice, without penalty.
Holders can convert the principal into common shares at $0.32 per share up to the Maturity Date. Debenture holders can convert interest into common shares through shares for debt applications, subject to Exchange approval. The debentures are secured by a general security agreement on the corporation’s personal property.
Subject to Exchange approval, Ocumetics proposes to issue share purchase warrants to each debenture holder as consideration for the forbearance. The number of warrants will equal the debenture’s principal, plus accrued interest up to the warrant issuance date, divided by $0.58. Each warrant allows the holder to purchase one common share at $0.58 until the earlier of June 19, 2027, or the date the debt is fully repaid. The expiration date is subject to acceleration under Exchange policy.
Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) is a Canadian company focused on developing vision correction solutions. The company is currently in the first-in-human early feasibility study phase of an intraocular lens technology designed to eliminate the need for corrective lenses. The lens fits within the eye’s natural lens compartment and allows the eye’s natural muscle activity to adjust focus, providing clear vision at all distances without glasses or contacts.
Source: Ocumetics Technology Corp.
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