Ventripoint Announces Closing of Second and Final Tranche of Non-Brokered Convertible Debenture Units Private Placement

Executive Summary

• Ventripoint Diagnostics Ltd. announced the issuance of an additional $297,000 of unsecured convertible debenture units, bringing total proceeds to $567,000 for the private placement.
• Each unit consists of a $1,000 convertible debenture (10% interest, maturing 31 Dec 2027) and 9,000 common‑share purchase warrants at $0.14 exercise price (expires 31 Dec 2027).
• Proceeds will be used for sales & marketing, hiring key personnel, and general working capital.

Key Details

• Total Units Issued: $567,000 aggregate (first tranche $270,000 + additional $297,000).
• Unit Composition: 1 unsecured convertible debenture ($1,000 principal) + 9,000 common‑share purchase warrants.
• Conversion Terms: Debentures convertible at holder’s option any time before maturity at $0.11 per Common Share.
• Warrant Exercise Price: $0.14 per Common Share; exercisable until 31 Dec 2027.
• Interest Rate: 10% per annum, payable semi‑annually in cash or by issuance of Common Shares at a 20‑day VWAP market price (subject to Exchange approval).
• Maturity Date: 31 Dec 2027 for the debentures.
• Finder’s Fees & Warrants: Paid $320 in cash finder’s fees; issued 2,286 Finder’s Warrants exercisable at $0.11 per Common Share for 18 months.
• Use of Proceeds: Funding operational costs related to sales and marketing, addition of key personnel, and general working capital.
• Holding Period: Securities subject to a lock‑up of four months plus one day from closing date.
• Regulatory Notes: Offering not registered under U.S. securities laws; subject to TSX Venture Exchange approval.

Notable Quotes

(No executive quotes were included in the release.)