Oculus Ventures Corporation announces amendment to share purchase agreement

OTTAWA, April 16 /CNW Telbec/ - Oculus Ventures Corporation ("Oculus") (TSX Venture: OVX.P), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange (the "TSXV") today announced that it has entered into an amendment to the share purchase agreement dated as of January 29, 2010 relating to the arm's length acquisition of the following privately owned companies:

    
    (i)   Balimore Limited and its wholly owned subsidiary Powerbase Energy
          Systems Inc.,

    (ii)  1384694 Ontario Inc. and its wholly owned subsidiary Sequence
          Controls Inc., and

    (iii) Sequence Electronics Inc.
    

The execution of the share purchase agreement was announced on January 29, 2010. The amendment relates to various matters including an extension to the purchase agreement until June 30, 2010. A copy of the amendment will be filed and available for review at www.SEDAR.com.

Completion of the transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to Exchange Requirements (as such term is defined under the TSXV policies), majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

SOURCE OCULUS VENTURES CORPORATION

For further information: For further information: Oculus Ventures Corporation, John Gabriel, President and CEO, (613) 789-8080, johngabriel@bbgequity.com

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OCULUS VENTURES CORPORATION

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