Proceeds are expected to be used as company's general working capital
By Devika Patel
Knoxville, Tenn., April 19 - VentriPoint Diagnostics Ltd. said it has arranged a C$2 million non-brokered private placement of units.
The company will sell 12.5 million units of one common share and a half-share warrant at C$0.16 per unit.
Each whole warrant is exercisable at C$0.25 for two years. The strike price reflects a 56.25% premium to the April 18 closing share price of C$0.16.
Proceeds will be used for general working capital.
Based in Seattle, VentriPoint is a clinical diagnostic company.
| Issuer: | VentriPoint Diagnostics Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2 million
|
| Units: | 12.5 million
|
| Price: | C$0.16
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | April 19
|
| Stock symbol: | TSX Venture: VPT
|
| Stock price: | C$0.16 at close April 18
|
| Market capitalization: | C$16.19 million
|
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