Proceeds are expected to be used as company's general working capital
By Devika Patel
Knoxville, Tenn., April 22 - VentriPoint Diagnostics Ltd. said it raised C$348,700 in the second and final tranche of a C$933,700 non-brokered private placement of units. The deal priced for C$2 million on March 4 and raised C$585,000 on April 1.
The company sold 9,337,000 units of one common share and a half-share warrant at C$0.10 per unit. It sold 5.85 million units in the first tranche and 3,487,000 units in the second tranche.
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$933,700
|
| Units: | 9,337,000
|
| 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
|
| Settlement date: | April 1 (for C$585,000), April 22 (for C$348,700)
|
| Stock symbol: | TSX Venture: VPT
|
| Stock price: | C$0.11 at close March 1
|
| Market capitalization: | C$13.13 million
|
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