Ventripoint Announces Adoption of Semi-Annual Reporting (SAR)

Executive Summary

• Ventripoint Diagnostics Ltd. announces the adoption of semi-annual financial reporting (SAR) pursuant to Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.
• The Company aims to reduce administrative and financial burdens associated with quarterly reporting to allow management to focus resources on commercialization initiatives and business development.
• Ventripoint will cease filing interim financial statements for three-month and nine-month periods but will maintain audited annual and six-month interim filings according to specific deadlines.

Key Details

• Regulatory Basis: Adoption of SAR under Coordinated Blanket Order 51-933 ("CBO 51-933").
• Eligibility: Company has determined it meets the eligibility criteria for the pilot program.
• Reporting Schedule Changes: Will not file interim financial statements and related Management's Discussion and Analysis (MD&A) for the three-month period ending March 31 or the nine-month period ending September 30 of each applicable fiscal year.
• Continued Filings: Will continue to file audited annual financial statements due within 120 days of December 31.
• Interim Filings: Will continue filing six-month interim financial reports and related MD&A due within 60 days of June 30.
• Program Exit: Company will announce in a future news release if it ceases to participate in the SAR pilot program.