Ocumetics Announces Forbearance Agreement for $4 Million Secured Convertible Debentures and Provides LIFE Offering Update

(TheNewswire)

Calgary, Alberta – February 10, 2026 – TheNewswire- Ocumetics Technology Corp. (“Ocumetics” or the“Corporation”) (TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) is pleased toannounce that the Corporation has entered into a forbearance agreementwith the holders of secured convertible debentures (the“Debentures”) that were issued by the Corporation in May and June 2024(see press release dated January 30, 2026 ). Pursuant to the forbearance agreement the debentureholderswill forbear from demanding payment of theDebentures and from taking any steps to realize upon any securitygranted in respect of the Debentures until June 19, 2027notwithstanding the maturity of the Debentures.  

The Debentures have an aggregate face value principalamount of up to $4,000,000 (the “Principal”). TheDebentures bear interest at rate of 18% per annum, compoundedannually.  Subject to the forbearance, the Debentures will mature,and Principal and interest will be payable by the Corporation, on thedate which is two years from the date of issue (the “Maturity Date”). The Corporation may prepay the indebtedness under the Debentures atany time upon ninety (90) days prior written notice, without penalty.

Principal is convertible at the option of the holderinto common shares of the Corporation at a conversion price of $0.32per share to and including the Maturity Date.  Interest will beconvertible into common shares of the Corporation pursuant to sharesfor debt applications, from time to time, at the option of thedebentureholders.  Such shares for debt applications will be subjectto the approval of the Exchange.  The Debentures are secured by ageneral security agreement on the personal property of the Corporationamong other things.

In consideration for the within forbearance, theCorporation has issued to the Debentureholders an aggregate of9,153,277 share purchase warrants (“Warrants”), eachWarrant entitling the holder thereof to purchase one common share atan exercise price of $0.58 until June 19, 2027 (the “Expiry Date”).   The Warrants are issued as bonus Warrants pursuant to Policy 5.1 ofthe TSX Venture Exchange.  Pursuant to Policy 5.1, if the Debenturesare repaid or converted in whole or in part within one year of thedate the Warrants are issued, a percentage of the Warrants equal tothe percentage of the amount of the indebtedness repaid or convertedwill be amended to the later of (a) one year from the date ofissuance, and (b) 30 days from the date of the repayment orconversion. The Expiry Date of all other Warrants shall remain June19, 2027.

LIFE Offering

The Corporation’s previously announced offering underthe listed issuer financing under section 5A.2 of National Instrument45-106 – Prospectus Exemptions, as amended, has terminated.  Atotal of 1,706,383 units were sold under the offering at a price of$0.60 per unit for aggregate gross proceeds of approximately$1,023,830.  Each Unit consists of one common share in the capital ofthe Corporation and one Common Share purchase warrant.  Each warrantentitles the holder to purchase one additional common share at a priceof $0.75 until December 30, 2028.  The issuance of the Units wasannounced in the Corporation’s press release dated January 2, 2026. The Corporation did not complete any other tranches under theoffering.

About Ocumetics

Ocumetics Technology Corp. (TSXV: OTC) (OTCQB: OTCFF)(FRA: 2QBO) is a Canadian research and product development companythat is dedicated to developing advanced vision correction solutionsthat enhance the quality of life for patients. Through innovativeresearch and development, Ocumetics aims to transform the field ofophthalmology with state-of-the-art intraocular lenses and othervision-enhancing technologies.

Ocumetics is in the first-in-human early feasibilitystudy phase of a game-changing technology for the ophthalmic industry.Ocumetics has developed an intraocular lens that fits within thenatural lens compartment of the eye, potentially to eliminate the needfor corrective lenses. It is designed to allow the eye’s naturalmuscle activity to shift focus from distance to near, providing clearvision at all distances without the help of glasses or contact lenses. 

FOR FURTHER INFORMATION, PLEASECONTACT:

Dave Burwell

Director, Investor Relations        

dave.burwell@ocumetics.com

 (403) 410-7907

Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKINGINFORMATION: This news release includes certain “forward-lookingstatements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to,statements with respect to the Exchange approval or the issuance ofwarrants.  Forward-looking statements are necessarily based upon anumber of estimates and assumptions that, while considered reasonable,are subject to known and unknown risks, uncertainties, and otherfactors which may cause the actual results and future events to differmaterially from those expressed or implied by such forward-lookingstatements. Such factors include but are not limited to: operationalmatters, historical trends, current conditions and expected futuredevelopments, access to financing as well as other considerations thatare believed to be appropriate in the circumstances.  There can be noassurance that such statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements.  The Corporationdisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, except as required by law.

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