TORONTO, ONTARIO--(Marketwired - Jan. 6, 2017) - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company") (TSX VENTURE:VPT) announces that it has engaged the services of FronTier Consulting Ltd. (part of the FronTier Merchant Capital Group) ("FronTier") to provide the Company with investor relations services in compliance with regulatory guidelines to increase market exposure.
FronTier is a highly experienced and recognized investor relations group, headquartered in Toronto with additional offices and IR representatives across Canada and the USA. FronTier will assist the Company by increasing market awareness for the Company utilizing a number of financial market communications initiatives, the core of which will be facilitating in-person introductions for the Company with institutional and retail brokers and investors in a number of cities across Canada, the US, Europe and Australasia.
Under the terms of the engagement, FronTier has been retained for 12 months to provide IR services for a fee of $6,000 payable on a quarterly basis, and to provide additional marketing consulting services for $60,000. Ventripoint has also issued 200,000 stock options to FronTier at an exercise price of $0.15, vesting in equal quarterly installments over 12 months and expiring two years from the date of grant. FronTier and its related companies currently own a total 834,000 common shares of Ventripoint and 834,000 common share warrants.
In addition, the Company announces a correction to the News Release issued on December 19, 2016 announcing the closing of the Company's Private Placement and Shares for Debt on December 16th. Dr. George Adams, the Chief Executive Officer and a Director of the Corporation, subscribed for 666,000 Units in the second tranche, not 660,000 Units as previously stated.
Forward Looking Statements:
The information in this release may contain certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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.