Mr. David Burwell reports

OCUMETICS ANNOUNCES OFFERING OF UNITS

Ocumetics Technology Corp. has proposed to complete a private placement of up to 2.8 million units of the corporation at a price of 55 cents per unit for gross proceeds of up to $1.54-million. There will be no minimum subscription level for the offering. Each unit will consist of one common share in the share capital of the corporation and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of 75 cents for a period of three years from the date of issuance of the warrant.

The warrants will be subject to an acceleration clause such that if the volume-weighted average trading price of the common shares on the TSX Venture Exchange is at least $1.20 per common share for a period of 30 consecutive trading days, the expiry date of the warrants may be accelerated by the corporation to a date that is not less than 30 days after the date that notice of such acceleration is provided to the warrant holders by way of a press release.

The corporation may pay finders' fees to those who assist the corporation in filling the private placement.

The offering is expected to close in tranches. Common shares and warrants issued under the offering will be subject to a hold period expiring four months and one day following their respective date of issue.

Net proceeds of the offering are expected to be used to finance the corporation's continuing first in-human clinical trials, for continuing research and development, and for general working capital. Although the corporation intends to use the proceeds of the offering as described above, the actual allocation of proceeds may vary from the uses set out above, depending upon future operations, events or opportunities.

About Ocumetics Technology Corp.

Ocumetics Technology is a Canadian research and product development company that is dedicated to developing advanced vision correction solutions that enhance the quality of life for patients. Through innovative research and development, Ocumetics aims to transform the field of ophthalmology with state-of-the-art intraocular lenses and other vision-enhancing technologies.

Ocumetics is in the first-in-human early feasibility study phase of a game-changing technology for the ophthalmic industry. Ocumetics has developed a dynamic intraocular lens that fits within the natural lens compartment of the eye, potentially to eliminate the need for corrective lenses. It is designed to allow the eye's natural muscle activity to shift focus from distance to near, providing clear vision at all distances without the help of glasses or contact lenses, and without perceptible time lag.

We seek Safe Harbor.