Ventripoint Announces Closing of $308,030 Non-Brokered Units Private Placement

Executive Summary

• Ventripoint Diagnostics Ltd. has closed a non-brokered private placement of 2,800,273 units at $0.11 per unit.
• The offering raised aggregate gross proceeds of $308,030 to fund operations and marketing.
• The transaction included participation from an insider of the Corporation.

Key Details

• Total Units Issued: 2,800,273 units
• Price per Unit: $0.11
• Aggregate Gross Proceeds: $308,030
• Unit Composition: Each unit consists of one (1) common share and one (1) common share purchase warrant.
• Warrant Terms: Exercise price of $0.14 per share; valid for 24 months from the closing date.
• Use of Proceeds: To fund sales and marketing initiatives, operational costs, and general working capital.
• Related Party Transaction: An insider of the Corporation subscribed for 136,364 units on the same terms as arm's length subscribers.
• Finders' Fees: No finders' fees were paid in relation to the offering.
• Regulatory Status: The offering is subject to acceptance by the TSXV Venture Exchange; all securities are subject to a four-month and one-day hold period.