VentriPoint Diagnostics Ltd.
TSX VENTURE : VPT
OTCQX : VPTDF

VentriPoint Diagnostics Ltd.

April 22, 2013 07:45 ET

VentriPoint Announces Closing of Offering

SEATTLE, WASHINGTON--(Marketwired - April 22, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company") (TSX VENTURE:VPT) (OTCQX:VPTDF) is pleased to announce that, further to its press release dated April 1, 2013, it has completed the final closing of its previously announced private placement of units (the "Units") of the Company (the "Offering"). In connection with the final closing of the Offering, the Company issued 3,487,000 Units at a price of $0.10 per Unit for gross proceeds of $348,700. As a result of the two closings, the Company has raised total gross proceeds of $933,700 pursuant to the Offering.

Each Unit is comprised of one common share ("Common Share") of the Company and one-half of one Common Share purchase warrant ("Warrant"), with each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.15 per share for a period of two years from the date of issuance.

In conjunction with the final closing of the Offering, Ventripoint paid cash commissions of $2,296 and issued 22,960 agent's options ("Agent's Options"). As a result of the two closings, Ventripoint paid total cash commissions of $18,776 and issued 187,760 Agent's Options.

Each Agent's Option is exercisable into one Common Share for a period of 18 months from the date of issuance at a price of $0.10 per Common Share. All securities issued pursuant to the Offering are subject to a four-month hold period pursuant to applicable securities legislation. The proceeds made available through the sale of Units will be used for the general working capital needs of the Company.

About Ventripoint Diagnostics Ltd.

Ventripoint has created a diagnostic ultrasound tool to monitor patients with heart disease, a leading cause of death in developed countries. Management believes that VMS™ is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. Congenital heart disease in children and adults and Pulmonary Arterial Hypertension are the first applications in a suite of applications for all major heart diseases including cardiovascular disease and heart failure - a multi-billion dollar market potential. Canada and Europe (CE Mark) have granted approval for the sale of its VMS™ tool and the Company is pursuing the US-FDA marketing clearance through the 510(k) process.

FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. 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 Company'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. These forward-looking statements are made as of the date of this press release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.

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

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