Ocumetics Technology Corp (TSE:OTC) has released an update.
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Ocumetics Technology Corp has successfully completed the second tranche of its debenture private placement, raising CA$940,000 in net proceeds, which will predominantly fund its inaugural human clinical trials and ongoing R&D. The offering has reached its goal of CA$4 million, with the debentures carrying an 18% annual interest rate and being convertible into common shares at $0.32 each. The funds allocation may adapt to the company’s operational needs and emerging opportunities.
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