Toronto, Ontario – TheNewswire – September 9, 2024 - TheNewswire - Ventripoint Diagnostics Ltd. (“Ventripoint ” or the “ Corporation ”)(TSXV:VPT, OTCQB:VPTDF) announces that on September 6, 2024, the Corporation granted an aggregate of 2,917,000 options to directors, officers, employees, contractors and consultants of the Corporation with an exercise price of between $0.175 and $0.20 and terms of 1 (one) to 10 (ten) years.  All options vested immediately. Of these option grants, 200,000 were awarded to directors and an additional 375,000 were awarded to officers some of which were also directors of the Corporation at an exercise price of $0.20 and 250,000 options were awarded to a consultant of the Corporation with an exercise price of $0.20 and with a term of 1 year.  

 

Option grants are an important part of incentivizing stakeholders to drive value in the Corporation and it has not awarded its directors, officers, employees or contractors option grants for 18 months.

 

Since the last update (see NR May 17, 2023), a total of 1,342,500 options were exercised with a weighted average price of approximately $0.10 per share for gross proceeds to the Corporation of $136,000.  There are currently 11,132,000 option grants outstanding with exercise prices between $0.10 to $0.50 with a weighted average price of $0.25, and 9,372,833 of these options have vested.

 

The Corporation has 4,200,391 options available for future grants under the Stock Option Plan as approved by shareholders at the last Special and Annual General Meeting of the Corporation on November 1, 2023.

 

For further information, please contact:

Hugh MacNaught

President and CEO

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.

  

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 KBR 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 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.

 

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 Company. Although the Company 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 Company 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 several factors and risks. Factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company'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 Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.