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Ocumetics Announces Completion of Qualifying Transaction



Calgary, Alberta–(Newsfile Corp. – August 31, 2021) – Ocumetics Technology Corp. (formerly Quantum Blockchain Technologies Ltd.) (TSXV: OTC) (the “Corporation“) announces that it has completed its transaction (the “Transaction“) with Ocumetics Technology Inc. (formerly Ocumetics Technology Corp.) (“Ocumetics“).

The Transaction comprised a three-cornered amalgamation among the Corporation, Ocumetics and a wholly-owned subsidiary of the Corporation (the “Amalgamation“) and a private placement described below.

The Transaction was an arm’s length transaction. The Transaction constitutes the Corporation’s Qualifying Transaction and a Reverse Takeover under the policies of the TSX Venture Exchange (the “Exchange“).

Pursuant to the Amalgamation, each of the issued and outstanding shares of Ocumetics was exchanged for three common shares of the Corporation, and each of the issued and outstanding warrants of Ocumetics were exchanged for three warrants of the Corporation having the same or similar terms. Pursuant to the Amalgamation, 80,918,502 common shares of Corporation, at a deemed price of $0.125 per share, and 2,134,251 warrants, at a deemed price of $nil, were issued pursuant to the Amalgamation, for a total deemed purchase price of $10,114,813. Of these shares, 73,650,000 common shares were subject to escrow and trading restrictions whereby 10% of such shares would be released upon the issuance by the Exchange of a final exchange bulletin with respect to the Transaction and additional tranches of 15% will be released every six months thereafter.

The Corporation issued 200,000 common shares to Haywood Securities Inc. in exchange for its services as the sponsor for the Amalgamation (the “Sponsor Shares“).

In connection with the Amalgamation, the Corporation completed a non-brokered private placement whereby an aggregate of 21,604,800 common shares were issued at a price of $0.125 per share for aggregate gross proceeds of $2,700,600.00 (the “Private Placement“). The Corporation paid finders fees to Leede Jones Gable Inc. consisting of cash commissions of $36,750.00 and warrants to purchase up to 294,000 common shares of the Corporation at a price of $0.125 per share for 24 months. Proceeds of the Private Placement will be used to fund the research and development and upcoming clinical trials for the Bionic Lens as well as for general administrative and working capital purposes.

The Sponsor Shares and all securities issued under the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance. Shares issued under the Amalgamation were not subject to any statutory hold periods.

Immediately upon completion of the Transaction, the Corporation completed a vertical amalgamation whereby it amalgamated with the corporation formed by the Amalgamation, which was then its wholly-owned subsidiary.

In connection with the Transaction, Keith Erickson resigned as a director and officer of the Corporation, and Dr. Garth Webb and Dayton Marks were appointed directors of the Corporation. The Board of Directors of the Corporation now consists of Dr. Garth Webb, Dayton Marks, Roger Jewett, Johannes Kingma and Robert Quinn. Dr. Mark Lee was appointed the President and Chief Executive Officer of the Corporation, Xin Hui (Sandey) Wang was appointed the Chief Financial Officer and Dr. Garth Webb was appointed the Corporation’s Chief Scientific Officer. Please see the Corporation’s press release dated March 1, 2021 for a description of the qualifications and backgrounds of the directors and officers.

Following the completion of the Transaction, the Corporation issued an aggregate of 8,870,800 incentive stock options to the following directors, officers and consultants pursuant to the terms of the Stock Option Plan of the Corporation:

Optionee Position with Corporation Number of Options
Mark Lee President and Chief Executive Officer 1,623,950
Garth Webb Director and Chief Scientific Officer 1,623,950
Xin Hui (Sandey) Chief Financial Officer 250,000
Roger Jewett Director and Consultant 1,623,950
Dayton Marks Director 2,000,000
Johannes Kingma Director 125,000
Robert Quinn Director 541,317
Doyle Stulting Consultant 1,082,633
TOTAL:   8,870,800


Each option entitles the holder thereof to purchase one common share in the capital of the Corporation, at an exercise price per common share of $0.125 for a period of five years. The options of Mark Lee, Garth Webb, Roger Jewett, Dayton Marks, Robert Quinn and Doyle Stulting will vest over a period of three years, with 15% of the options vesting six months after the date of issuance, another 15% vesting after 12 months, another 35% after 24 months and the remaining 35% after 36 months. 50% of the options of Sandey Wang will vest six months after the date of issuance and the remaining six months will vest 12 months after the date of issuance. The options of Johannes Kingma will vest immediately.

The stock options are not transferrable. The common shares issued upon exercise of the stock options will be subject to a four-month resale restriction from the date of grant.

Manning Elliott LLP, the auditor of Ocumetics, will be the auditor of the Corporation. Alliance Trust Company will continue as the transfer agent and registrar of the Corporation’s common shares.

Early Warning

As a result of the Transaction, Dr. Garth Webb, through his holding company, Ventura Holdings Ltd., now holds an aggregate of 43,200,000 Common Shares of the Corporation, or 39.90% of the Common Shares currently issued and outstanding in the share capital of the Corporation (36.11% fully diluted). Dr. Webb also holds options to purchase up to 1,623,950 Common Shares of the Corporation at a price of $0.125 per share for a period of five years. Prior to the Transaction, neither Ventura nor Dr. Webb held any shares of the Corporation.

In the future, depending on economic or market conditions or matters relating to the Corporation Dr. Webb may choose to either acquire additional securities or dispose of securities of the Corporation. Dr. Webb has no present intention to acquire additional securities of the Corporation.

About the Corporation

The Corporation is a Canadian research and product development company that specializes in adaptive lens designs, based in British Columbia. It is now in the pre-clinical stage of a game-changing technology for the ophthalmic industry – the Bionic Lens. The Bionic Lens is an expandable intraocular lens that fits within the natural lens compartment of the eye to completely eliminate the need for corrective lenses. It re-establishes the natural kinetics of the eye muscles to facilitate the eye’s ability to shift focus effortlessly from distance to near and very near range.

Resumption of Trading

Pursuant to the policies of the Exchange, trading of the shares of the Corporation has been halted. Trading of the shares of the Corporation will resume under the trading symbol, “OTC”, on September 10, 2021.

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.

To view the source version of this press release, please visit


Stockify goes fully Digital, offers Mutual Funds and Dematerialization of shares




In a strategic move to expand its offerings and provide a comprehensive suite of financial services, Stockify, a leading platform for Unlisted and pre-IPO shares in India, has announced plans to venture into the Mutual Fund space.

This development comes as part of Stockify’s mission to assist High-Net Individuals (HNIs) and Non-Resident Indians (NRIs) in accessing various investment opportunities in India via the pre-IPO route and maximizing their wealth. The company is also set to facilitate the Dematerialization of Shares. (Conversion of Physical Share to DEMAT account.)

Founded by Piyush Jhunjhunwala (CA, CPA) and Co-Founded by Rahul Khatuwala (CA) both seasoned finance professionals with decades of experience in global conglomerates.

Stockify has already carved a niche for itself in the Indian Financial landscape. The platform primarily focuses on providing access to Blue-Chip Stocks before their listing on the Indian Stock Market (via the Pre IPO Route) enabling early investors to potentially achieve significant returns. While expressing the company’s intent behind expanding its services, Jhunjhunwala said, “Mutual Funds are the backbone of the Indian Equity market, and we believe it is important that NRI and retail investors in India can greatly benefit from our new offering and this will help them in creating long-term wealth.”

The recent announcement of Stockify entering the Mutual Funds market follows the company’s successful acquisition of a Mutual Fund license in the first quarter of 2023. Alongside Mutual Funds, Stockify intends to offer an array of other financial products, like Start-up Funding, fixed investment products like Bonds and Non-Convertible Debentures (NCDs) and Insurance-Linked Investments, in the coming months. Notably, Stockify plans to make all its products and services 100% accessible online, aligning with the Digital India vision of our beloved Prime Minster Mr. Narendra Modi.

Currently, Stockify boasts 70 Unlisted/pre-IPO companies on its platform, with in-depth research conducted on all of them as stated by Jhunjhunwala. It offers a simple online process where transactions can be completed online, and shares get transferred to the clients DEMAT account on the same day.

Stockify’s global presence was recently showcased at the Dubai Fintech Summit (DFS). The two-day event brought together over 5,000 C-suite leaders, 1,000-plus investors, and 150 speakers from around the world. Stockify was selected as one of the proud exhibitors at the summit, solidifying its position as one of the world’s largest providers of pre-IPO and Unlisted Stocks in India.

With its ambitious expansion plans and commitment to innovation, Stockify is set to continue revolutionizing the way investors access and engage with financial opportunities in India and beyond.

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VerifyVASP Wins Hong Kong’s IFTA Fintech and Innovation Awards 2022/23: Regulatory Technology Award




VerifyVASP was awarded the Institute of Financial Technologists of Asia (IFTA) Fintech and Innovation Awards 2022/23 for Regulatory Technology. The awards exhibit the extraordinary achievements made by companies and individuals in the finance and technology industries.

The IFTA Awards, themed “Game Changers: The Rise of Next Gen Fintech”, celebrates ground-breaking ideas and technologies that are shaping the future of finance. The distinguished Guest of Honour presenting the IFTA awards was the Under Secretary for Financial Services and the Treasury for Financial Services in the Hong Kong SAR, Mr. Joseph Ho-Lim Chan.

VerifyVASP has established itself as a comprehensive Travel Rule solution provider catering to Virtual Assets Service Providers (VASPs) worldwide. Its commitment to facilitating full compliance with Travel Rule regulations across multiple jurisdictions has earned it this prestigious recognition.

This accolade comes at an opportune time, as VerifyVASP supports the Hong Kong Virtual Asset Trading Platforms (VATPs) in adhering to the regulatory framework set forth by the Hong Kong Securities & Futures Commission, which came into effect on 1 June 2023. VATPs are granted a grace period till 1 January 2024 to ensure compliance with Travel Rule requirements.

The IFTA Fintech and Innovation Award underscores VerifyVASP’s capabilities, including:

  • Facilitation of counterparty due diligence: VerifyVASP assists VASPs in counterparty due diligence before the first transaction, to stringent standards akin to that observed in correspondent banking. This is achieved through VerifyVASP’s own rigorous due diligence process, encompassing over 100 VASPs.
  • Immediate and secure transmission: Leveraging a scalable architecture, VerifyVASP ensures immediate and secure transmission of required information, alongside verification of such information. To date, the platform has processed over 5 million transfers.
  • Adherence to international data protection laws: VerifyVASP complies with international data protection law thanks to its decentralised, end to end encrypted architecture. This dedication to data security and privacy sets it apart in the industry.
  • Asset agnostic: VerifyVASP’s capabilities extend to accommodating any type of virtual asset, having processed over 400 cryptocurrency variants on its platform.
  • Integration of third-party screening solutions: VerifyVASP seamlessly integrates third-party solutions, allowing for efficient screening of originators or beneficiaries before blockchain transactions.


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Nagad’s Digital Bank on cards, Sadaf to lead the side




Nagad, Bangladesh’s leading Mobile Financial Service (MFS) provider, is gearing up to establish the much-anticipated digital bank, as it is going to secure a licence from the Bangladesh Bank within a couple of months.

Sadaf Roksana, a co-founder and executive director of Nagad Ltd., has been entrusted with the responsibility of leading her company’s transformative venture that will bring greater convenience to the lives of millions of Bangladeshis, reducing their reliance on traditional brick-and-mortar banks.

The MFS provider earlier applied to secure a digital bank licence following the central bank’s call for applications through its website. The Bangladesh Bank also formulated necessary guidelines to widen and accelerate financial inclusion, which will also create jobs for young IT workers.

The world’s fastest mobile money carrier is going to venture into the digital banking era at a time when the financial landscape across the globe is fast evolving towards digitalisation, driven by technological advancements and changing consumer preferences.

Taking on the new assignment, Sadaf, a seasoned financial executive with a remarkable track record in the fintech industry, is poised to steer Nagad’s digital bank towards success. Once Nagad gets the digital bank licence, it will provide its consumers with innovative and convenient banking solutions.

“We are very excited that we are going to introduce digital banking services to the people of Bangladesh within a couple of months,” Sadaf said, adding, “This endeavour aligns perfectly with our vision of enhancing financial inclusion and ensuring easy access to all financial services also at affordable prices.”

Nagad is already well-equipped to launch a digital bank. It will start serving customers soon after getting the licence, Sadaf assured.

Under its digital banking platform, Nagad will introduce many new services, such as single-digit and collateral-free loans for small informal businesses and farmers who now are to take loans from moneylenders even at 40% interest rate per day, she pointed out.

“Thus, we will encourage them to come under financial inclusion, thus putting their money into the formal channel,” she expressed her optimism.

To assess one’s creditworthiness, Nagad has created an AI-based credit rating system that will analyse all transactions-related data available on public domains using one’s NID and mobile number, Sadaf Roksana added.

As Nagad goes ahead with its plans, all eyes will be on Sadaf Roksana and her team as they will embark on this exciting journey towards a more digitised and inclusive financial future for the country.

SOURCE Nagad Limited

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