Proceeds will fund commercialization of VentriPoint Medical Systems
By Melissa Kory
Cleveland, May 11 - VentriPoint Diagnostics Ltd. announced it intends to complete a non-brokered private placement offering of up to 17,647,059 units for proceeds of C$3 million.
The units will be sold at C$0.17 each, identical to the May 10 closing share price.
Each unit will consist of one common share and half of one common share purchase warrant. Each whole warrant will be exercisable for one additional common share at C$0.25 per share for three years.
The closing of the offering is expected to occur on May 20.
The proceeds will be used for product and service commercialization of the VentriPoint Medical System, expansion of VentriPoint Medical System functionality and working capital.
Based in Calgary, Alta., VentriPoint is a clinical diagnostic company.
| Issuer: | VentriPoint Diagnostics Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$3 million
|
| Units: | 17,647,059
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25
|
| Pricing date: | May 11
|
| Settlement date: | May 20
|
| Stock symbol: | TSX Venture: VPT
|
| Stock price: | C$0.17 at close May 10
|
| Market capitalization: | C$12,739,986
|
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