Toronto, Ontario – TheNewswire - October 18, 2024 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Corporation”), (TSXV:VPT) announces that it has closed the first tranche of its non-brokered private placement offering, as described in its press releases of August 28, 2024, August 29, 2024, September 17, 2024, and October 15, 2024 pursuant to the listed issuer financing exemption under Part 5A of NI 45-105 - Prospectus Exemptions (the "LIFE Offering"), resulting in the issuance of 2,351,730 Units of the Company at a price of $0.195 per Unit for aggregate gross proceeds of $458,587. The common shares and warrants issued pursuant to the LIFE Offering are not subject to a hold period.

 

The outside date for closing both the Corporation’s previously announced Convertible Debenture Offering and the LIFE Offering has been extended to November 12, 2024. The Convertible Debenture Offering and LIFE Offering remain subject to certain conditions including, but not limited to, receipt of all necessary approvals including approval of TSXV.

 

There is an offering document related to the LIFE Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at Ventripoint.com. Prospective investors should read this offering document before making an investment decision.

 

The Corporation will use the proceeds of the Offering to fund operational costs related sales and marketing, additional key personnel, and for general working capital purposes.

 

The securities offered will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent a registration statement or an applicable exemption from the registration requirements. The press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

 

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. 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 our 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 U.S., Europe and Canada.

 

For further information, please contact:

 

Hugh MacNaught

hmacnaught@ventripoint.com

604-671-4201

 

Neither the 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 news release.

 

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. 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.sedarplus.ca. 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.

  

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