Ventripoint Diagnostics Ltd.
TSX VENTURE : VPT

Ventripoint Diagnostics Ltd.

December 24, 2014 09:07 ET

Ventripoint Announces $200,000 Debenture Unit Private Placement

SEATTLE, WASHINGTON--(Marketwired - Dec. 24, 2014) -

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Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Corporation") (TSX VENTURE:VPT) announces that it intends to complete a non-brokered private placement of up to CDN$200,000 (the "Offering") of debenture units of the Corporation at a price of $1,000 per unit ("Units"). The Units will be comprised of $1,000 principal amount of non-convertible non-secured debentures ("Debentures"), which shall mature one year from the date of issuance of the Debentures, and 16,667 common share purchase warrants with an exercise price of $0.06 for a period of two years. Depending on market conditions, the Corporation reserves the right to increase the maximum gross proceeds under the Offering, subject to approval of the TSX Venture Exchange.

The Debentures shall bear a 12% annual simple interest calculated on the principal amount, paid monthly in arrears in cash.

Dr. George Adams, a Director and President and CEO of the Corporation, intends to subscribe for $50,000 of the Units.

The net proceeds, after deducting the expenses of the Offering, will be used to incur expenditures for: (i) product and service commercialization of the VMS; and (ii) for general working capital purposes and potentially to repay debt and outstanding payables.

The Offering is subject to the approval of the TSX Venture Exchange. The securities will be subject to a four-month hold period, in accordance with applicable securities laws.

About Ventripoint Diagnostics Ltd.

Ventripoint has created diagnostic tools to monitor patients with heart disease, a leading cause of death in developed countries. The VMS™ is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function, and is approved for clinical use for selected cardiac indications in Canada and Europe, and cleared for use in adult PAH patients by the FDA in the United States. The Corporation has a suite of applications for all major heart diseases and imaging modalities, including congenital heart disease, left or right heart failure and normal hearts - a multi-billion dollar market potential.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

FORWARD-LOOKING STATEMENTS: This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the closing of the Offering including the Corporation's ability to obtain necessary approvals from the TSX Venture Exchange. All statements, other than statements of historical facts, which address Ventripoint's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the Corporation's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in VentriPoint's disclosure documents on the SEDAR website at www.sedar.com. The Corporation undertakes no obligation, and does not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.

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