Units to include one share, one quarter of a two-year warrant
New York, Aug. 31 – VentriPoint Diagnostics Ltd. said it plans to sell up to C$3 million of units in a non-brokered private placement.
The offering will be consist of up to 54,545,454 units priced at C$0.055 each, according to a news release.
Each unit will be made up of one common share and one quarter of a warrant. The warrants will be exercisable at C$0.11 for two years.
Proceeds will be used for sales and marketing and general working capital.
VentriPoint is a Bellevue, Wash.-based maker of heart imaging systems.
| Issuer: | VentriPoint Diagnostics Ltd.
|
| Issue: | Units of stock and 0.25 warrants
|
| Amount: | C$3 million
|
| Units: | 54,545,454
|
| Price: | C$0.055
|
| Warrants: | 0.25 per unit
|
| Warrant strike price: | C$0.11
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Stock symbol: | TSX Venture: VPT
|
| Stock price: | C$0.05 at close on Aug. 28
|
| Market capitalization: | C$11 million
|
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