Health & Fitness
Thu, April 26, 2012Wed, April 25, 2012Tue, April 24, 2012Mon, April 23, 2012Sun, April 22, 2012Sat, April 21, 2012Fri, April 20, 2012Thu, April 19, 2012Wed, April 18, 2012Tue, April 17, 2012Mon, April 16, 2012Sun, April 15, 2012Sat, April 14, 2012Fri, April 13, 2012Thu, April 12, 2012VentriPoint Announces Proposed Private Placement
Published in Health and Fitness on Thursday, April 19th 2012 at 14:35 GMT by Market Wire
April 19, 2012 17:27 ET
VentriPoint Announces Proposed Private Placement
SEATTLE, WASHINGTON--(Marketwire - April 19, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
VentriPoint Diagnostics Ltd. ("VentriPoint" or the "Corporation") (TSX VENTURE:VPT) (PINKSHEETS:VPTDF.PK) announces that it intends to complete a non-brokered private placement of up to 12,500,000 units ("Units") of the Corporation at a price of $0.16 per Unit for gross proceeds of up to $2,000,000 (the "Private Placement"). Each Unit will consist of one common share ("Common Share") of the Corporation and one-half of one Common Share purchase warrant ("Warrant"), with each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.25 per share for a period of two years from the date of issuance. The Corporation intends to use the proceeds from the Private Placement for general working capital purposes.
The Private Placement is subject to the approval of the TSX Venture Exchange. The Common Shares will be subject to a four-month hold period, in accordance with applicable securities laws.
The Corporation may pay a commission or finder's fee to eligible parties in connection with the Private Placement, subject to compliance with applicable securities laws. In addition, the Corporation may grant agent's options to purchase Common Shares at a price of $0.16 per Common Share for a period of 18 months, subject to regulatory approval.
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.
The offered securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold in the United States or to "U.S. persons," as such term is defined under Regulation S promulgated under the U.S. Securities Act, absent registration under such laws or pursuant to an exemption from registration therefrom.
Neither 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 release
