Ventripoint Diagnostics Ltd.
TSX VENTURE : VPT

Ventripoint Diagnostics Ltd.

June 17, 2016 08:22 ET

Ventripoint Announces TSXV Exchange Approval for Amendment of Warrants

TORONTO, ONTARIO--(Marketwired - June 17, 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) has received approval from the TSX Venture Exchange (the "TSXV") for the previously announced amendment of the terms of certain common share purchase warrants (the "Warrants") issued by the Corporation in connection with private placements of the Corporation on August 21, 2013, October 22, 2013, June 20, 2014, December 31, 2014, June 4, 2015, and September 29, 2015. The Warrants were amended as follows:

1. The expiry date of each series of warrants was extended for an additional two (2) years from the original expiry date.

2. The exercise price of all of the Warrants was amended to $0.40.

3. The Warrants, as amended, include an accelerated expiry provision such that the exercise period of each of the classes of the Warrants will be reduced to 30 days if for any 10 consecutive trading days during the unexpired term of such class of Warrants (the "Premium Trading Days") the closing price of the Corporation's common shares exceeds the amended exercise price by 25% or more (which would be a trading price of $0.50 per common share or higher), with the 30-day expiry period to begin no more than 7 calendar days after the 10th Premium Trading Day.

For further information on the amendment of the Warrants, please see the Corporation's press release dated June 2, 2016.

The Corporation also announces a correction to its press release that was disseminated on June 2, 2016. The table on the first page of the press release should have stated that the original exercise price of the Warrants issued on August 21, 2013 was $1.50, not $1.20.

Certain warrants of the Corporation which were issued in connection with a private placement of the Corporation on November 9, 2015 will not be amended at this time.

Forward Looking Statements:

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. The forward-looking statements and information are based on certain key expectations and assumptions made by the Corporation. 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. 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.

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