OccuLogix Announces Closing of Transactions

TORONTO, ONTARIO - (Marketwire - Oct. 6, 2008) - OccuLogix, Inc. (NASDAQ:OCCX)(TSX:OC) announced the closing of the acquisition of the minority ownership interest in San Diego-based OcuSense, Inc. that OccuLogix did not already own, the private placement of U.S.$2,173,000 of shares of OccuLogix's common stock at a per share price of U.S.$0.10, the pre-payment by the Company of its U.S.$6,703,500 aggregate principal amount bridge loan at a per share price of U.S.$0.085 and the payment of U.S.$481,200 of the commission remaining owing for placement agency services rendered by Marchant Securities Inc. at a per share price of U.S.$0.10. The acquisition of OcuSense common stock involved only common stock consideration, and the pre-payment of the bridge loan and the payment of commission were made by the issuance by the Company of... [read full story]