By Devika Patel
Knoxville, Tenn., Dec. 8 - VentriPoint Diagnostics Ltd. arranged a C$3 million private placement of debentures.
The debentures will be sold in units of C$1.00 in 8% secured debentures and four share purchase warrants. Each warrant is exercisable at C$0.15 for three years.
The debentures may be redeemed after one year. They mature in two years.
Proceeds will be used to prepare for and implement product and service commercialization and for working capital purposes.
Based in Calgary, Alta., VentriPoint is a clinical diagnostic company.
Issuer: | VentriPoint Diagnostics Ltd.
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Issue: | Units of C$1.00 in 8% secured debentures and four share purchase warrants
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Amount: | C$3 million
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Maturity: | Two years
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Coupon: | 8%
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Price: | Par
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Yield: | 8%
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Warrants: | Four warrants per unit
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Warrant expiration: | Three years
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Warrant strike price: | C$0.15
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Pricing date: | Dec. 8
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Stock symbol: | TSX Venture: VPT
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Stock price: | C$0.11 at close Dec. 8
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