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SEATTLE, WASHINGTON--(Marketwire - March 4, 2013) - VentriPoint Diagnostics Ltd. ("VentriPoint" or the "Corporation") (TSX VENTURE:VPT) (OTCQX:VPTDF) announces that it intends to complete a non-brokered private placement of up to 20,000,000 units ("Units") of the Corporation at a price of $0.10 per Unit for gross proceeds of up to $2,000,000 (the "Private Placement"). Each Unit will consist of one common share ("Common Share") of the Corporation and one-half of one Common Share purchase warrant ("Warrant"), with each Warrant entitling the holder thereof to purchase one Common Share at a price of $0.15 per share for a period of two years from the date of issuance. The Corporation intends to use the proceeds from the Private Placement for general working capital purposes. In the event the Private Placement is completed for gross proceeds of less than $2,000,000, the Board of Directors of the Corporation may elect to complete the placement with a debt financing, the terms of which have not been determined at this time. |
