Calgary, AB - TheNewswire - February 13, 2023 - Ocumetics Technology Corp. (“Ocumetics” or the “Company”) (TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) is pleased to announce the successful completion of its latest animal studies. “The purpose of these studies was to test our latest design,” said Dr. Garth Webb, Ocumetics’ Founder and Chief Scientific Officer.  “The lens design met and exceeded our expectations.  It is exciting to see the technology we have developed over the years coming to fruition.”

Ocumetics’ Chief Medical Officer, Dr. Doyle Stulting, said “The latest design addresses the needs of ophthalmologists, with the lens exiting the injector during surgery at a controlled pace and gently expanding to fill the capsular bag.  In addition, the new lens addresses all of the feedback we had received from our Medical Advisory Board.”

Dr. Mark Lee, Ocumetics’ President & CEO, advises, “This is the first in a series of biocompatibility studies, the second of which is scheduled to commence in March 2023.  The biocompatibility studies will take 3 months to complete, which means we should be able to begin our first-in-human proof of concept studies in July or August of 2023. We are very pleased with these latest results and look forward to beginning the first human studies.”

About Ocumetics

Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) is a Canadian research and development company that specializes in adaptive intraocular lens designs.  Ocumetics is in the preclinical study stage of a game-changing technology for the ophthalmic industry.  Ocumetics has developed an expandable intraocular lens that fits within the capsular bag following extracapsular cataract extraction.  It is designed to allow the eye’s natural muscle activity to shift focus from distance to near, potentially to eliminate the need for corrective lenses.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dr. Mark Lee

President and CEO

(604) 832-6052

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation.  Forward-looking statements include, but are not limited to, statements with respect to the commencement, timing and scope of the clinical trial program outlined above and that it will be conducted as expected.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: operational matters, historical trends, current conditions and expected future developments, access to financing as well as other considerations that are believed to be appropriate in the circumstances.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.  The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.