TORONTO, ONTARIO--(Marketwire - June 18, 2008) - OccuLogix, Inc. (NASDAQ: OCCX)(TSX: OC) announced today that it intends to restate its unaudited consolidated financial statements for the quarter ended March 31, 2008, its audited consolidated financial statements for the financial years ended December 31, 2007 and December 31, 2006 and its unaudited consolidated financial statements for each of the first three quarters of the financial year ended December 31, 2007. The restatements are being made in order to correct the manner in which OccuLogix has been consolidating OcuSense since November 30, 2006, the date on which OccuLogix acquired its majority ownership interest in OcuSense which consists of voting preferred stock. The Company anticipates that the restatements will not result in a decline in total assets in any of the periods to be restated.
