Ventripoint Diagnostics Ltd.

Ventripoint Diagnostics Ltd.

August 16, 2017 08:25 ET

Ventripoint Announces Results of Annual Shareholders' Meeting and Grant of Options and DSUs

TORONTO, ONTARIO--(Marketwired - Aug. 16, 2017) - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Corporation") (TSX VENTURE:VPT) announces that at its Annual General Meeting on August 14, 2017 the shareholders re-elected Dr. George Adams, Mr. Danny Dalla-Longa, Dr. Alan Rabinowitz, Dr. Don Segal and Mr. David Willis as Directors of the Corporation. They further approved the Incentive Stock Option plan and an increase in the maximum aggregate number of shares that may be reserved for issuance pursuant to the Corporation's DSU Plan to 600,000 common shares. BDO was appointed as auditors of the Corporation for the next year.

The Board of Directors has granted a total of 1,250,000 common share stock options to five officers of the Corporation, of which 200,000 options were in replacement of options which were cancelled on July 1, 2017. All options are exercisable at $0.32 per share until the fifth anniversary date of the grant.

The Corporation also announces that it has granted a total of 300,000 Deferred Share Units (DSUs) to four independent Directors of Ventripoint, Mr. Danny Dalla-Longa, Dr. Alan Rabinowitz, Dr. Don Segal and Mr. Dave Willis, in recognition of their past and future services to the Corporation. Under the terms of the Corporation's Deferred Share Unit Plan, holders of DSUs may redeem each DSU for one share of common stock upon the termination of their services to the Corporation at no cost to the holder.

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: 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 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. 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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