SEATTLE, WASHINGTON--(Marketwire - Jan. 4, 2012) -

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VentriPoint Diagnostics Ltd. ("VentriPoint" or the "Company") (TSX VENTURE:VPT) (PINKSHEETS:VPTDF) announces that further to the Corporation's press releases of December 9 and 16, 2011, it has received final TSXV approval of the issuance of 3,709,428 Common Shares of the Corporation at a deemed price of $0.163 per Common Share for the payment of outstanding debts of $604,637 owed to holders of debentures of the Corporation. In addition, for each one (1) dollar of debenture converted, the debenture holder was issued one common share purchase warrant ("Warrant") of the Corporation, with each Warrant entitling the holder thereof to acquire one Common Share at a price of $0.20 per share for a period of three (3) years from the date of issuance. The Corporation has also received final TSXV approval for the issuance of 214,052 Common Shares at a deemed price of $0.207 per share in payment of $44,308 of accrued interest owing to holders of debentures of the Corporation. The deemed price per share for the payment of the debentures was based on the 5-day trading average as at December 8, 2011 of $0.204. Pursuant to the debenture agreement, the deemed price per share for the payment of interest was based on the 10-day trading average as at December 8, 2011 of $0.207 per share.

Further to the Corporation's press release of November 11, 2011, the Corporation also announces that it has received final TSXV approval of the issuance of (i) 213,910 Common Shares for payment of outstanding debenture interest owing to an arm's length third party at a deemed price of $0.17 per share, (ii) 409,720 Common Shares in lieu of a bonus payment to a former executive officer of the Corporation at a deemed price of $0.159 per share, (iii) 87,666 Common Shares for payment of consulting fees owing to an arm's length third party at a deemed price of $0.212 per share and (iv) 290,142 Common Shares for payment of outstanding debts owed to an arm's length third party at a deemed price of $0.178 per share. The deemed prices per share are based on the 10-day trading average as at November 10, 2011 of $0.212 and the average for the month ended October 31, 2011 of $0.209.

The securities issued in settlement of outstanding debts have a hold period of four months from the date of issuance in accordance with applicable securities legislation.

About VentriPoint Diagnostics Ltd.

VentriPoint has created a diagnostic ultrasound tool to monitor patients with heart disease, a leading cause of death in developed countries. Management believes the VMS™ is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. Congenital heart disease is the first application in a suite of applications for all major heart diseases including pulmonary hypertension, cardiovascular disease and heart failure, which management believes has a multibillion-dollar market potential. Canada and Europe (CE Mark) have granted approval for the sale of VentriPoint's VMS™ heart analysis system and VentriPoint is pursuing the US-FDA approval through the 510(k) process.

FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address VentriPoint's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the Corporation's filings with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. These forward-looking statements are made as of the date of this press release and, other than as required by applicable securities laws, the Corporation does not assume any obligation to update or revise them to reflect new events or circumstances. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.