Ocumetics Enters Forbearance Agreement and Concludes Financing
Calgary, Alberta — February 10, 2026 — Leads & Copy —
Ocumetics Technology Corp. has entered into a forbearance agreement with holders of secured convertible debentures issued in May and June 2024. According to the agreement, the debentureholders will refrain from demanding payment or taking steps to realize on security until June 19, 2027, despite the debentures’ 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. Subject to the forbearance, the principal and interest will be payable on the date that is two years from the date of issue. Ocumetics may prepay the indebtedness at any time with 90 days’ prior written notice, without penalty.
Principal is convertible into common shares at $0.32 per share until the Maturity Date. Interest will be convertible into common shares through shares for debt applications, subject to Exchange approval. The debentures are secured by a general security agreement on the personal property of Ocumetics.
In consideration for the forbearance, Ocumetics issued 9,153,277 share purchase warrants to the debentureholders. Each warrant allows the holder to purchase one common share at $0.58 until June 19, 2027. These warrants are issued as bonus warrants pursuant to Policy 5.1 of the TSX Venture Exchange. If the debentures are repaid or converted within one year, a percentage of the warrants equal to the percentage of indebtedness repaid or converted will be amended to the later of (a) one year from the date of issuance, and (b) 30 days from the date of the repayment or conversion. The Expiry Date of all other Warrants shall remain June 19, 2027.
Ocumetics’ previously announced offering under the listed issuer financing has been terminated. Under the offering, 1,706,383 units were sold at $0.60 per unit, for gross proceeds of approximately $1,023,830. Each unit consists of one common share and one common share purchase warrant. Each warrant allows the holder to purchase one additional common share at $0.75 until December 30, 2028. The issuance of the Units was announced January 2, 2026. Ocumetics did not complete any other tranches under the offering.
Ocumetics Technology Corp. is a Canadian research and product development company focused on advanced vision correction solutions. It has developed an intraocular lens designed to eliminate the need for corrective lenses by allowing the eye’s natural muscle activity to shift focus from distance to near.
Source: Ocumetics Technology Corp.
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