Oculus VisionTech, Inc. (OTCPK:OVTZ) announced a non-brokered private placement of up to 4,800,000 units at a price of CAD 0.80 per unit for gross proceeds of up to CAD 3,840,000 on March 31, 2021. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share for a period of two years from the date of issuance at a price of CAD 1 per share. Directors and officers of the company are expected to subscribe for a portion of the transaction. The transaction is subject to receipt of applicable regulatory approvals, including acceptance by the TSX Venture Exchange. The company may pay finder's fees in connection with the transaction, consisting of cash payments equal to 6% of the gross proceeds raised from the investors introduced by a finder to the company. The securities to be issued will be subject to a hold period expiring four months and one day after the closing of the transaction under applicable Canadian securities laws.