Ventripoint Diagnostics Ltd.

Ventripoint Diagnostics Ltd.

March 24, 2015 11:14 ET

Ventripoint Diagnostics Ltd. Increases Financing to $250,000

SEATTLE, WASHINGTON--(Marketwired - March 24, 2015) -


Ventripoint Diagnostics Ltd. ("Ventripoint", or the "Company") (TSX VENTURE:VPT), a company focused on heart analysis using ultrasound and knowledge-based reconstruction, announces that, further to its news release dated March 4, 2015, due to an increase in demand, the maximum gross proceeds of the non-brokered private placement (the "Offering") of unsecured convertible debentures (the "Debentures") of the Company has been increased to $250,000. The Offering is expected to close on or about March 25, 2015, and the Offering is subject to TSX Venture Exchange final acceptance. The Debentures issued in connection with the Offering will be subject to a four month and 1 day hold period from the date of issuance of such securities.

The Debentures will have a maturity date of one year from the date of issuance, and may be converted by the holder at any time following the issuance of the Debentures into common shares of the Company at a price of $0.06 per common share. The Debentures shall bear a 12% annual simple interest calculated on the principal amount, payable quarterly in arrears in cash.

The net proceeds, after deducting the expenses of the Offering, will be used to incur expenditures for: (i) product and service commercialization of the VMS™ heart analysis system; and (ii) general working capital purposes and potentially to repay debt and outstanding payables. For further information on the Offering, please see the news release dated March 4, 2015.

About Ventripoint Diagnostics Ltd.

Ventripoint has created tools to monitor patients with heart disease, a leading cause of death in developed countries. VMS is the first cost-effective and accurate tool for measuring right ventricle heart function. The Company has a suite of applications for all major heart diseases and imaging modalities including congenital heart disease, left or right heart failure and normal hearts - a multi-billion dollar market potential.

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 news release that are not historical facts may 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. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Ventripoint's disclosure documents on the SEDAR website at The Company 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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