Ventripoint Diagnostics Ltd.

Ventripoint Diagnostics Ltd.

November 04, 2015 08:56 ET

Ventripoint Announces New Director and Provides Corporate Update

SEATTLE, WASHINGTON--(Marketwired - Nov. 4, 2015) - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Corporation") (TSX VENTURE:VPT) announces that Dave Willis has joined the Board of Directors of the Corporation. Mr. Willis is an expert in the development and international sales of ultrasound equipment. Until recently, he was Vice President Competitive Strategy and Product Innovation at SonoSite-Fujifilm Ultrasound, where he was responsible for design input, launch and global training of 4 major product releases. He also served as Vice President of Sales and Marketing the Americas for Ultrasonix Medical Corp, where he managed sales forces in Canada, U.S.A, and South America.

Mr. Willis had been with SonoSite Ultrasound previously as Vice President of General Imaging Business Unit, where he helped grow sales to $65 million and as Director of Product Marketing. In the 1990's, he had positions with ATL Ultrasound as Director of Clinical Marketing, Manager of Clinical Investigations, Senior Clinical Specialist, International Sales Specialist and Applications Specialist, where he managed a distribution network in Asia.

Mr. Willis was trained as a sonographer and had clinical appointments at the Health Sciences Center and the Misericordia General Hospital in Winnipeg, Manitoba, Canada. He completed business training at Wharton Business School.

"It is a pleasure to welcome such a pioneer and innovator to the Board of Ventripoint as we embark on the next phase of changing cardiac ultrasound to provide MRI-grade volumetric assessments for all four chamber of the heart." Stated Treuman Katz, Chairman of the Ventripoint Board of Directors. "His international experience will be particularly important as we expand into Asia and elsewhere."

"I am pleased to join Ventripoint's board and look forward to assisting the company to interface with luminary cardiologists worldwide to bring forth new and needed products to allow cardiac care to be more immediate and effective," said Mr. Willis.

Corporate Update

The Corporation is pleased to report it has finished the inventory of its physical and digital assets and has found all to be intact.

The 4-chamber development project has been initiated and Precision Image Analysis has been hired to do the tracings for the catalogues using the Corporation's library of MRI studies of hearts. This is expected to be completed by the end of the year.

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 Private Placement and the use of the proceeds therefrom, and relating to the Agreement. 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 Private Placement, the use of net proceeds of the Private Placement, and the consummation of the transactions contemplated by the Agreement. 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 to satisfy certain conditions in connection with the issuance of the Units and failure to consummate the transactions contemplated by the Agreement. 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 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.

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