TORONTO, ONTARIO--(Marketwired - March 9, 2017) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Corporation") (TSX
VENTURE:VPT) announces that it intends to complete a non-brokered private placement (the "Private Placement") of
up to 6,250,000 units ("Units") at $0.32 per Unit for total gross proceeds of up to $2,000,000 (the
"Offering"). Each Unit will consist of one common share of Ventripoint ("Common Share") and one
Common Share warrant ("Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Common
Share at a price of $0.50 per Common Share for a period of 2 years after the issuance of the Warrant.
The Corporation will use the proceeds of the Private Placement for sales and marketing and general working capital
purposes.
The Corporation may pay a cash finder's fee on a portion of the proceeds of the Offering and may issue to finders Common
Shares of up to 4% of the number of Units purchased by subscribers introduced to the Corporation by the Finder, and
non-transferable finder's warrants ("Finder's Warrants") of up to 4% of the number of Units purchased by such
subscribers. Each Finder's Warrant would entitle the holder to acquire one additional Common Share at a price of $0.50 per Common
Share for a period of 2 years after the issuance of the Finder's Warrant.
The Common Shares, the Warrants and the Finder's Warrants issued pursuant to the Offering, and any Common Shares issued upon
the exercise of Warrants and Finder's Warrants, would be subject to a hold period of four months plus one day from the date of
closing of the Private Placement except as permitted by applicable securities legislation and the rules of the TSX Venture
Exchange (the "TSXV"). The Private Placement is subject to approval by the TSXV.
Forward Looking Statement:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable
securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may",
"will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking
information or statements. In particular, this news release contains forward-looking information relating to the Offering and the
use of the proceeds therefrom. The forward-looking statements and information are based on certain key expectations and
assumptions made by the Corporation, including expectations and assumptions concerning the completion of the Offering and the use
of net proceeds of the Offering. Although the Corporation believes that the expectations and assumptions on which such
forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking
statements and information because the Corporation can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of
factors and risks. Such factors may include the failure to successfully market the Units and failure to satisfy certain
conditions in connection with the issuance of the Units and the Finder's Warrants. Other factors which could materially affect
such forward-looking information are described in the risk factors in the Corporation's most recent annual management's
discussion and analysis that is available on the Corporation's profile on SEDAR at www.sedar.com . Readers are cautioned that the foregoing list of factors is
not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary
statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the
Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a
result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.