(TheNewswire) Calgary, Alberta May 24, 2024 – TheNewswire . Ocumetics Technology Corp. (‘ Ocumetics ‘ or the ‘ Corporation ‘) ( TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) announces that it has completed the first tranche of the private placement of debentures previously announced by the Corporation on May 15, 2024. The Corporation has issued secured convertible debentures having an aggregate face value principal amount of $3,000,000 (the ‘ Principal ‘). The debentures were subject to an original issue discount of 6%, resulting in net proceeds to the Corporation of $2,820,000 (the ‘ Net Proceeds ‘), less expenses incurred by the lenders in respect of the offering. The debentures bear interest at a rate of 18% per annum, compounded annually. The Debentures will mature, and Principal and interest will be payable by the Corporation, on the date which is two years from the date of issue. The Corporation may prepay…
