TORONTO, ONTARIO--(Marketwired - Aug. 22, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Corporation") (TSX VENTURE:VPT) announces that it has amended the terms of outstanding unsecured convertible debentures of the Corporation (the "Debentures") in the aggregate principle amount of $228,000, such that the maturity date of the Debentures has been extended for a period of 24 months from August 21, 2016 to August 21, 2018. In consideration for agreeing to extend the maturity date, the Corporation will issue to the holders of such Debentures an aggregate of 1,519,998 warrants exercisable into 1,519,998 common shares of the Corporation at a price of $0.15 per share until August 21, 2018.
In all other respects, the terms of the Debentures will remain unchanged and in full force and effect. The Debentures were issued pursuant to a private placement of units of the Corporation. Please refer to the Corporation's press release dated August 22, 2013 for more information with respect to this private placement and the terms of the Debentures.
The amendment to the terms of the Debentures and the issuance of the Warrants are subject to TSX Venture Exchange acceptance.
Forward Looking Statement:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking information relating to the proposed amendment of the Debentures. The forward-looking statements and information are based on certain key expectations and assumptions made by the Corporation, including expectations and assumptions concerning the completion of the amendment of the Debentures. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Corporation can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Such factors may include the failure of the Corporation to successfully satisfy certain conditions in connection with the amendment of the Debentures and failure to complete the amendment of the Debentures. Other factors which could materially affect such forward-looking information are described in the risk factors in the Corporation's most recent annual management's discussion and analysis that is available on the Corporation's profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.