By Devika Patel
Knoxville, Tenn., Sept. 11 - VentriPoint Diagnostics Ltd. said it will conduct a C$2 million private placement of units.
The company will sell up to 8 million units at C$0.25 each.
Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.25 for two years.
Proceeds will be used to complete the development and external testing of VentriPoint's initial release of its VentriPoint Diagnostic system and to support the company through the approval process and the commencement of marketing and selling of the VentriPoint Diagnostic system in Canada and Europe.
Based in Calgary, Alta., VentriPoint is a clinical diagnostic company.
| Issuer: | VentriPoint Diagnostics Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 8 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Pricing date: | Sept. 11
|
| Stock symbol: | TSX Venture: VPT
|
| Stock price: | C$0.22 at close Sept. 10
|
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