Ventripoint Announces Closing of First Tranche of Non-Brokered Convertible Debenture Unit Private Placement

Core Points - Ventripoint Diagnostics Ltd. has closed a non-brokered private placement, issuing 270 unsecured convertible debenture units for a total of $270,000 [1][2] - Each unit consists of a $1,000 convertible debenture and 9,000 common share purchase warrants [2] - The convertible debentures can be converted into common shares at a price of $0.11 per share, and the warrants allow the purchase of common shares at $0.14 until December 31, 2027 [3] Financial Details - The debentures mature on December 31, 2027, with a 10% interest rate payable semi-annually in cash or common shares [4] - Proceeds from the offering will be used for operational costs, sales and marketing, and general working capital [5] Related Party Transaction - The offering includes a related party transaction, with insiders subscribing for $105,000 of units, relying on exemptions from certain approval requirements [7] Regulatory Information - The securities offered are not registered under the U.S. Securities Act and cannot be sold in the U.S. without proper registration or exemption [8] Company Overview - Ventripoint is a leader in applying AI to echocardiography, with its VMS+ products providing accurate cardiac measurements comparable to MRI [9] - The technology is versatile and compatible with all ultrasound systems, supported by regulatory approvals in the U.S., Europe, and Canada [9]