Proceeds are expected to be used as company's general working capital
By Devika Patel
Knoxville, Tenn., March 4 - VentriPoint Diagnostics Ltd. said it has arranged a C$2 million non-brokered private placement of units.
The company will sell 20 million units of one common share and a half-share warrant at C$0.10 per unit.
Each whole warrant is exercisable at C$0.15 for two years. The strike price reflects a 36.36% premium to the March 1 closing share price of C$0.11.
Proceeds will be used for general working capital purposes.
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$2 million
|
| Units: | 20 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | March 4
|
| Stock symbol: | TSX Venture: VPT
|
| Stock price: | C$0.11 at close March 1
|
| Market capitalization: | C$13.18 million
|
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