Ventripoint Announces Closing of Non-Brokered Units Private Placement

Executive Summary

• Ventripoint Diagnostics Ltd. closed a non‑brokered private placement of 10,097,720 units at $0.10 per unit, raising $1,009,772 in gross proceeds.
• Insiders (directors and officers) contributed $139,340, representing 13.8 % of total funds raised.
• Proceeds will be used to fund sales & marketing activities, hire additional key personnel, and support general working capital.

Key Details

• Units sold: 10,097,720 units (each unit = 1 common share + 1 warrant).
• Pricing: $0.10 per unit; total gross proceeds of $1,009,772.
• Insider participation: $139,340 (13.8 % of total) subscribed to 1,393,400 units.
• Warrant terms: Each warrant allows purchase of one common share at $0.13 for 24 months from closing; may be accelerated if the share trades ≥ $0.26 for ten consecutive days.
• Finder’s fees & warrants: Paid cash finder’s fees of $15,600 and issued Finder’s Warrants covering 156,000 shares (exercise price $0.13, 24‑month term).
• Related‑party transaction: Exempted under TSXV Policy 5.9 and MI‑61‑101; fair market value of insider participation < 25 % of market cap and <$2.5 M. No material change report filed prior to closing.
• Use of proceeds: Allocate to operational costs, sales & marketing initiatives, recruitment of key personnel, and general working capital.
• Holding period: All securities subject to a lock‑up of four months plus one day from the 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.)