Ocumetics Secures Funding for Clinical Trials

Ocumetics Technology Corp (TSE:OTC) has released an update.

Ocumetics Technology Corp has successfully completed the first part of its private placement, raising CA$2.82 million through the issuance of secured convertible debentures. These funds are earmarked primarily for the company’s inaugural in-human clinical trials and ongoing R&D. The debentures, bearing an 18% annual interest rate, allow holders to convert their debt into common shares at $0.32 each.

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