Ventripoint Diagnostics closes $3.36M private placement

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By CPE News

Toronto (pcJ News Briefs) – Ventripoint Diagnostics Ltd. (TSX-V: VPT) has closed its previously-announced non-brokered private placement of 10,496,938 units at $0.32 per unit for gross proceeds of $3,359,020.

Existing shareholders subscribed for $1.9M and new shareholders subscribed for $1.4M.

Each unit consists of one common share and one common share warrant entitling the holder thereof to acquire one common share at a price of $0.50 per share for a period of 2 years.

Ventripoint intends to use the proceeds for product development, sales and marketing and general working capital purposes.

“All of us at Ventripoint are thankful to our existing and new shareholders for providing the funding we needed to fully commercialize the VMS-PLUS heart analysis system,” said Dr. George Adams, CEO of Ventripoint. “With these resources, we can market the VMS-PLUS and begin to improve the examination of patients with suspected or known heart disease.” Dr. Adams subscribed for 312,000 units.

Ventripoint paid cash finder’s fees of $188,030 in cash and issued an aggregate of 282,555 units with the same terms.

photo credit: Ventripoint Diagnostics