VentriPoint Announces First Closing of Offering And Issuance of Shares for Debt

SEATTLE, WASHINGTON--(Marketwire - April 1, 2013) -

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Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company") (TSX VENTURE:VPT) (OTCQX:VPTDF) is pleased to announce its first closing of its previously announced private placement of common shares (the "Common Shares") of the Company (the "Offering"). In connection with the first closing of the Offering, the Company issued 5,850,000 Common Shares at a price of $0.10 per Common Share for gross proceeds of $585,000. Insiders subscribed for 25% of the first closing of the Offering.

"I thank all the investors who continue to support the Company and look forward to the next closing for investors who have indicated that they wish to subscribe to the offering in the next couple of weeks," said, Dr. George Adams, CEO of Ventripoint.

In conjunction with the Offering, Ventripoint paid cash commissions of $16,480 and issued 164,800 Agents Options. The Agent's Options are exercisable for a period of 18 months from the date of issuance at a price of $0.10 per Common Share. All Common Shares 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 Common Shares will be used for the general working capital needs of the Company.

Further to the Company's press release of January 18, 2013, the Company also announces that it has received final TSX Venture approval of the issuance of 89,362 Common Shares of at a deemed price of $0.12 per Common Share for the payment of outstanding debts of $10,723.40 owed to a Consultant of the Company and 450,000 Common Shares at a deemed price of $0.12 per Common Share in payment of $54,000.00 of accrued interest owing to a holder of a promissory note of the Company.

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. VMS™ is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. Congenital heart disease in children and adults and Pulmonary Arterial Hypertension are the first applications in a suite of applications for all major heart diseases including cardiovascular disease and heart failure - a multi-billion dollar market potential. Canada and Europe (CE Mark) have granted approval for the sale of its VMS™ tool and the Company is pursuing the US-FDA marketing clearance 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 Company'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 Company 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.