Ventripoint arranges $542,591 debt settlement

Executive Summary

• Ventripoint Diagnostics Ltd. has entered into agreements to settle an aggregate debt of $542,591.50 owed to arm's-length creditors.
• The settlement is being executed through the issuance of 5,425,915 common shares at a price of $0.10 per share.
• The company intends to use this transaction to preserve cash for business development, pending approval from the TSX Venture Exchange.

Key Details

• Debt Settled: Aggregate amount of $542,591.50 owed to certain arm's-length creditors.
• Consideration: Issuance of 5,425,915 common shares.
• Price Per Share: $0.10 CAD.
• Hold Period: The issued shares are subject to a hold period of four months and one day.
• Strategic Rationale: The corporation determined to satisfy the indebtedness with shares to preserve cash for the development of its business.
• Regulatory Status: The issuance of shares is subject to approval by the TSX Venture Exchange.