RE: Financing completed VentriPoint Announces Closing of Offering
SEATTLE, WASHINGTON--(Marketwired - April 22, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company") (TSX VENTURE:VPT) (OTCQX:VPTDF) is pleased to announce that, further to its press release dated April 1, 2013, it has completed the final closing of its previously announced private placement of units (the "Units") of the Company (the "Offering"). In connection with the final closing of the Offering, the Company issued 3,487,000 Units at a price of $0.10 per Unit for gross proceeds of $348,700. As a result of the two closings, the Company has raised total gross proceeds of $933,700 pursuant to the Offering.
Each Unit is comprised of one common share ("Common Share") of the Company 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 $0.15 per share for a period of two years from the date of issuance.
In conjunction with the final closing of the Offering, Ventripoint paid cash commissions of $2,296 and issued 22,960 agent's options ("Agent's Options"). As a result of the two closings, Ventripoint paid total cash commissions of $18,776 and issued 187,760 Agent's Options.
Each Agent's Option is exercisable into one Common Share for a period of 18 months from the date of issuance at a price of $0.10 per Common Share. All securities issued pursuant to the Offering are subject to a four-month hold period pursuant to applicable securities legislation. The proceeds made available through the sale of Units will be used for the general working capital needs of the Company.