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Ventripoint Diagnostics Ltd (2)
Symbol VPT
Shares Issued 162,801,030
Close 2025-03-21 C$ 0.185
Market Cap C$ 30,118,191
Recent Sedar Documents

Ventripoint closes $500,000 private placement

2025-03-21 17:44 ET - News Release

Mr. Hugh MacNaught reports

VENTRIPOINT ANNOUNCES CLOSING OF $500,000 NON-BROKERED CONVERTIBLE DEBENTURE UNIT PRIVATE PLACEMENT

Ventripoint Diagnostics Ltd. has closed its previously announced (see press release of March 14, 2025) non-brokered private placement of unsecured convertible debenture units, subject to final TSX Venture Exchange acceptance. The corporation has issued 500 units for aggregate gross proceeds of $500,000.

Each unit comprised: one unsecured convertible debenture principal amount of $1,000 convertible into common shares of the corporation; and 7,143 common share purchase warrants.

The debentures are convertible into common shares of the corporation at the option of the holder at any time prior to maturity at a conversion price of 14 cents per common share. Each whole warrant will entitle the holder thereof to purchase one common share at a price of 18 cents until June 28, 2027.

The debentures mature June 28, 2027, and bear interest at the rate of 10 per cent payable semi-annually in arrears in either cash or at the option of the corporation by issuance of common shares at a 20-day VWAP (volume-weighted average price) market price, determined at time of payment, subject to exchange approval.

The corporation paid aggregate cash finders' fees of $4,320 (0.9 per cent of the gross proceeds) and issued an aggregate of 30,857 common share purchase warrants to finders in connection with the offering. Each finder's warrant is exercisable into one common share of the corporation at an exercise price of 14 cents per common share for a period of 18 months.

The corporation will use the proceeds of the offering to finance operational costs related sales and marketing, additional key personnel, and general working capital purposes.

All securities issued and issuable pursuant to the offering are subject to a hold period of four months plus one day from the date of closing of the offering. The offering is subject to final approval by the exchange.

About Ventripoint Diagnostics Ltd.

Ventripoint has become an industry leader in the application of AI (artificial intelligence) to echocardiography. Ventripoint's VMS+ products are powered by its proprietary knowledge-based reconstruction technology, which is the result of a decade of development and provides accurate volumetric cardiac measurements equivalent to MRI (magnetic resonance imaging). This affordable, gold-standard alternative allows cardiologists greater confidence in the management of their patients. Providing better care to patients serves as a springboard and basic standard for all of Ventripoint's products that guide the company's future developments. In addition, VMS+ is versatile and can be used with all ultrasound systems from any vendor supported by regulatory market approvals in the United States, Europe and Canada.

We seek Safe Harbor.

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