OKYO Pharma Limited Announces Pricing of Public Offering and Nasdaq Listing

LONDON, May 16, 2022 (GLOBE NEWSWIRE) -- OKYO Pharma Limited (Nasdaq: OKYO, LSE: OKYO) ("OKYO Pharma” or the "Company"), a biotechnology company focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and ocular pain, announced the pricing of an underwritten public offering of 625,000 American Depositary Shares (the "ADSs”) at a public offering price of $4.00 per ADS. In addition, OKYO Pharma has granted the underwriters a 45-day option to purchase up to an additional 93,750 ADSs to cover over-allotments, if any. The gross proceeds to the Company from this offering are expected to be approximately $2,500,000 before deducting underwriting discounts, commissions and other offering expenses, and excluding the exercise of the over-allotment option, if any. The offering is expected to close on May 19, 2022, subject to customary closing conditions.

The Company has received approval to list its ADSs on the Nasdaq Capital Market under the symbol "OKYO”, and the ADSs are expected to begin trading on May 17, 2022.

OKYO Pharma intends to use the net proceeds of the offering to advance OK-101 to the filing of an IND to treat DED, to fund the initial Phase 2 clinical trial of OK-101 in DED patients, and the remaining proceeds for working capital and other general corporate purposes.

ThinkEquity is acting as the sole book-running manager for the offering.

The registration statement on Form F-1 (file No. 333-263326) relating to the shares being sold in this offering has been filed with the U.S. Securities and Exchange Commission (the "SEC”) and became effective on May 16, 2022. A final prospectus related to the proposed offering will be filed and made available on the SEC’s website at https://www.sec.gov/. The offering is being made only by means of a prospectus. Electronic copies of the final prospectus may be obtained, when available, from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673 and by email at prospectus@think-equity.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About OKYO Pharma Limited
OKYO Pharma Limited (Nasdaq: OKYO, LSE: OKYO) is a biotechnology company developing next-generation therapeutics to improve the lives of patients suffering from inflammatory eye diseases and ocular pain. OKYO’s research program is focused on a novel G Protein-Coupled Receptor, or GPCR, which OKYO believes plays a key role in the pathology of these inflammatory eye diseases of high unmet medical need. OKYO’s therapeutic approach is focused on targeting inflammatory and pain modulation pathways that drive these conditions. The Company is presently developing OK-101, its lead preclinical product candidate, for the treatment of dry-eye disease "DED”. The Company also plans to evaluate its potential in benefiting patients with ocular neuropathic pain, uveitis and allergic conjunctivitis.

Forward Looking Statements
Certain statements made in this announcement are forward-looking statements including with respect to the creation of a trading market for ADSs representing the Ordinary Shares in the United States. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including market conditions, whether the proposed Offering is completed and the satisfaction of customary closing conditions related to the proposed Offering. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

Investor Relations Contact

RedChip Companies Inc.
(Investor Relations)

Dave Gentry +1 407-491-4498