OKYO Pharma (OKYO) Prices $5.3 Million Offering of ADSs

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 (“DED”) and ocular pain, announced the pricing of a reasonable best efforts public offering of 3,503,665 American Depositary Shares (the “ADSs”) at a public offering price of $1.50 per ADS. The gross proceeds to the Company from this offering are expected to be approximately $5.3 million before deducting offering expenses. The offering is expected to close on March 15, 2023, subject to customary closing conditions.

OKYO Pharma intends to use the net proceeds of the offering to advance OK-101 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.

The Company has also closed on a concurrent offering in the United Kingdom of 13,836,156 ordinary shares to certain members of management and its directors for gross proceeds of $0.3 million. Both offerings utilized the full amount of the Company’s UK ordinary shares available for sale at this time.

The registration statement on Form F-1 (File No. 333-268675) relating to the ADSs being sold in this offering has been filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 5, 2022 and became effective on March 8, 2023. 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.

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