Ventripoint to issue 291,344 shares for interest

Executive Summary

• Ventripoint Diagnostics Ltd. will satisfy $36,989.01 of accrued debenture interest by issuing 291,344 common shares at a deemed price of $0.127 per share (subject to TSX‑V approval).
• Two recent convertible debentures (issued Jan 17 2025 and Feb 7 2025, total $256,000) have been fully converted; no further interest is payable on those series.
• The share issuance carries a four‑month‑plus hold period and will not result in any shareholder obtaining control of the company.

Key Details

• Interest Payment via Share Issuance: 291,344 common shares to be issued for $36,989.01 interest accrued on convertible debentures dated June 28 2024, Dec 16 2024, Jan 17 2025, and Feb 7 2025.
• Deemed Share Price: $0.127 per share (subject to TSX‑V approval).
• Hold Period: Shares subject to a lock‑up of four months and one day from issuance.
• Control Impact: Issuance will not create a control person of Ventripoint Diagnostics Ltd.
• Debenture Conversions Completed: Convertible debentures issued Jan 17 2025 and Feb 7 2025 (aggregate $256,000) have been converted; interest obligations on these series are extinguished.
• Remaining Debentures: Interest remains payable only on the earlier series (June 28 2024, Dec 16 2024) for which the share issuance covers accrued interest.

Notable Quotes

(No direct quotes were provided in the release.)