Business
Ocumetics Announces Proposed Forbearance Agreement for $4 million Secured Convertible Debentures
(TheNewswire)   Calgary, Alberta – January 30, 2026 – TheNewswire - ...
About this update from Ocumetics Technology Corp
[{"type":"text","content":"Ocumetics Announces Proposed Forbearance Agreement for $4 million Secured Convertible Debentures \n(TheNewswire)\n\n \n\n\nCalgary, Alberta – January 30, 2026 – TheNewswire\n- Ocumetics Technology Corp. (“Ocumetics” or the\n“Corporation”) (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) announces that it\nis seeking approval from the TSX Venture Exchange (the “Exchange”) with\nrespect to a forbearance agreement to be entered into between the\nCorporation and the holders of secured convertible debentures (the\n“Debentures”) that were issued by the Corporation in May and June 2024\n(see press releases dated May 15, 2024, May 23,\n2024 and June 21, 2024).  Under the proposed\nforbearance agreement, it is proposed that the Debentureholders will\nforbear from demanding payment of the Debentures and from taking any\nsteps to realize upon any security granted in respect of the\nDebentures until June 19, 2027 notwithstanding the maturity of the\nDebentures.  \n\n\n \n\n\nThe Debentures have an aggregate face value principal\namount of up to $4,000,000 (the “Principal”). The\nDebentures bear interest at rate of 18% per annum, compounded\nannually.  Subject to the forbearance, the Debentures will mature,\nand Principal and interest will be payable by the Corporation, on the\ndate which is two years from the date of issue (the “Maturity Date”).\n The Corporation may prepay the indebtedness under the Debentures at\nany time upon ninety (90) days prior written notice, without penalty.\n\n\n\n \n\n\nPrincipal is convertible at the option of the holder\ninto common shares of the Corporation at a conversion price of $0.32\nper share to and including the Maturity Date.  Interest will be\nconvertible into common shares of the Corporation pursuant to shares\nfor debt applications, from time to time, at the option of the\ndebentureholders.  Such shares for debt applications will be subject\nto the approval of the Exchange.  The Debentures are secured by a\ngeneral security agreement on the personal property of the Corporation\namong other things.\n\n\n \n\n\nIn consideration for the within forbearance, subject to\nthe approval of the Exchange, the Corporation is proposing to issue to\neach Debentureholder su...