TORONTO, ONTARIO--(Marketwire - October 06, 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 shares of its common stock. All of these transactions had been approved by the Company's stockholders at the Annual and Special Meeting of Stockholders on September 30, 2008 and were described in the Company's proxy statement for the meeting, which is available electronically on EDGAR (www.sec.gov) and SEDAR (www.sedar.com).
