Ventripoint Diagnostics Announces $500,000 Private Placement
Toronto, Ontario -- March 14, 2025 -- NewsGenie -- Ventripoint Diagnostics Ltd. (TSXV:VPT) has announced a non-brokered private placement of up to CDN$500,000 through unsecured convertible debenture units, subject to TSXV Venture Exchange approval.
Each unit includes a $1,000 debenture, convertible into common shares at $0.14 per share, and 7,143 common share purchase warrants. Each warrant allows the holder to purchase one common share at $0.18.
The debentures will mature on June 28, 2027, and bear a 10% interest rate, payable semi-annually in cash or, at the Corporation's discretion, in common shares at a price based on the 20-day VWAP market price, subject to Exchange approval.
The Corporation may also pay finder’s fees and issue finder’s warrants of up to 4% of the offering's gross proceeds. Each finder’s warrant is exercisable into one common share at CDN$0.14 for 18 months.
Ventripoint intends to allocate the funds towards sales and marketing, hiring key personnel, and for general working capital. All securities issued are subject to a four-month hold period.
Ventripoint has become an industry leader in applying AI to echocardiography. Ventripoint's VMS+ products provide accurate volumetric cardiac measurements equivalent to MRI. The VMS+ system is versatile and compatible with ultrasound systems from various vendors, supported by regulatory approvals in the U.S., Europe, and Canada.
Hugh MacNaught can be contacted for further details at hmacnaught@ventripoint.com or 604-671-4201.