VentriPoint Diagnostics Ltd.
TSX VENTURE : VPT

VentriPoint Diagnostics Ltd.

September 15, 2008 16:41 ET

VentriPoint Issues Shares to Directors and Consultants as Payment for Services

SEATTLE, WASHINGTON--(Marketwire - Sept. 15, 2008) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

VentriPoint Diagnostics Ltd. ("VentriPoint") (TSX VENTURE:VPT) announces that, pending regulatory approval, it will issue, in aggregate, 60,000 common shares in the capital of VentriPoint (the "Commons Shares") to non-officer directors of VentriPoint as payment of services from May 2008 to June 2008. The issuances of Common Shares to non-officers directors is in accordance with agreements which provide that such directors shall each receive a total of 90,000 Common Shares as compensation for serving as a director and committee member in lieu of cash payments. VentriPoint will also issue, in aggregate, 102,322 Common Shares to two consultants for services rendered from May 2008 to June 2008 in lieu of cash payments. The Common Shares will be issued at a deemed price of $0.255 per share, the closing price of the Common Shares the day prior to the Board of Directors' resolution approving the issuances.

About VentriPoint Diagnostics

VentriPoint creates diagnostic tools to monitor patients with heart disease - the number one cause of death in developed countries. By using data produced from existing two- or three-dimensional medical imaging systems, the VentriPoint Diagnostic System creates a three-dimensional model of the right and left ventricles and generates critical heart measurements in a rapid and inexpensive manner not currently available. This breakthrough diagnostic tool is based upon technology received by VentriPoint through its technology license with the University of Washington. The VentriPoint Diagnostic System, together with its associated online service, is being developed for a variety of heart related disease states, including congenital heart disease.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • VentriPoint Diagnostics Ltd.
    Edward Garth
    Chief Financial Officer
    (206) 283-0221
    (206) 283-2309 (FAX)