Ventripoint Announces Closing of Non-Brokered Units Private Placement

Core Viewpoint - Ventripoint Diagnostics Ltd. has successfully closed a non-brokered private placement, raising a total of $1,009,772 through the issuance of 10,097,720 units at a price of $0.10 per unit, with significant insider participation [1][4]. Group 1: Offering Details - Each unit consists of one common share and one common share purchase warrant, with warrants priced at $0.13 and valid for 24 months [2]. - The company has paid cash finder's fees of $15,600 and issued 156,000 Finder's Warrants, also exercisable at $0.13 for 24 months [3]. - The offering is classified as a related party transaction, with insiders purchasing 1,393,400 units, representing 13.8% of total proceeds [4]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated to operational costs, sales and marketing, hiring additional key personnel, and general working capital [5]. Group 3: Regulatory and Compliance Information - All securities issued will be subject to a hold period of four months plus one day from the closing date, pending approval from the Exchange [6]. - The securities are not registered under the U.S. Securities Act and cannot be sold in the U.S. without proper registration or exemption [7]. Group 4: Company Overview - Ventripoint is recognized as a leader in applying AI to echocardiography, with its VMS+ products providing accurate cardiac measurements comparable to MRI, enhancing patient care [9].