VPTDF - Ventripoint Announces Appointment to the Board of Directors and Option Grants
(TheNewswire)
Toronto, Ontario - TheNewswire - September 30, 2020 -Ventripoint Diagnostics Ltd. (" Ventripoint " orthe " Corporation " ) , ( TSXV:VPT ) & ( OTC:VPTDF) is pleased to announce, Mr. Hugh MacNaught has beenappointed as a Director of the Corporation.
Mr. MacNaught is a seasoned life science executive withmore than thirty years of experience in the development,commercialization and financing of therapeutic, diagnostic and medicaldevice technologies and ventures. His career includes roles withinmultinational corporations including Nordion, Kodak, BoehringerMannheim (Roche) and Philips and the venture capital industry. Aserial entrepreneur, he has founded, financed and led several venturesand is a mentor in the entrepreneurship programs at Simon FraserUniversity and the University of British Columbia. He brings strongbusiness acumen, governance experience and an extensive network ofworld-class industry experts to drive transformation oftechnology-based ventures.
"I am pleased to join the Board ofVentripoint" said Mr. MacNaught. "The Company's heartanalysis system provides important functionality to cardiac ultrasoundand equips cardiologists with the ability to more efficiently assessand manage patients, whose outcomes could beimproved with better access to highly accurate and timely 3D wholeheart analysis . The Ventripoint team has done anexcellent job in evolving the VMS technology into an attractiveproduct offering. I look forward to working with the board andmanagement to accelerate the placement of systems into leading cardiaccentres in the U.S., Europe, and Canada".
"The Corporation welcomes Hugh to the Board ofDirectors and looks forward to his assistance in building value forthe shareholders of the Corporation," stated Dr. George Adams,Ventripoint's Executive-Chairman. "Expanding the Board isappropriate at this time as the Corporation resumes deliveries ofVMS+3.0 whole-heart analysis systems."
The Corporation has awarded Mr. MacNaught a grant of500,000 options at an exercise price of $0.10 with a 10-year term with200,000 vested immediately and the remainder to be vested annuallyover 3 years. The Corporation has also awarded the other Directors ofthe Corporation an option grant of 500,000 option grants each. Dr. Adams as the CEO had an additional 625,000 optiongrants awarded and the Chair of the Business advisory Committee wasawarded 100,000 option grants. The Corporation's CFO has received150,000 option grants. In addition, the Corporation has awardedemployees and consultants an aggregate of 2,050,000 option grants. Alloption grants are at an exercise price of $.10. The Corporation nowhas 2,325,000 options available for future grants from the originalpool of 10% of issued shares as approved by its shareholders at thelast Annual General Meeting on August 15, 2019.
About Ventripoint Diagnostics Ltd.
Ventripoint has become an industry leader in theapplication of AI (Artificial Intelligence) to echocardiography.Ventripoint's VMS products are powered by its proprietary KBRtechnology, which is the result of a decade of development andprovides accurate volumetric cardiac measurements equivalent to MRI.This affordable, gold-standard alternative allows cardiologistsgreater confidence in the management of their patients. Providingbetter care to patients serves as a springboard and basic standard forall of Ventripoint's products that guide our future developments. Inaddition, VMS+ is versatile and can be used with all ultrasoundsystems from any vendor supported by regulatory market approvals inthe U.S., Europe and Canada.
For further information, pleasecontact:
Mr . Peter Weichler,Director
Email : peter@weichler.ca
Or
Mr. Clay Chase
Email: cc@sdthc.com
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this news release.
Forward Looking Statements
This news release contains forward-looking statementsand forward-looking information within the meaning of applicablesecurities laws. The use of any of the words "expect","anticipate", "continue", "estimate","objective", "ongoing", "may","will", "project", "should","believe", "plans", "intends'' and similarexpressions are intended to identify forward-looking information orstatements. The forward-looking statements and information are basedon certain key expectations and assumptions made by the Company.Although the Company believes that the expectations and assumptions onwhich such forward-looking statements and information are based arereasonable, undue reliance should not be placed on the forward-lookingstatements and information because the Company can give no assurancethat they will prove to be correct.
Since forward-looking statements and informationaddress future events and conditions, by their very nature theyinvolve inherent risks and uncertainties. Actual results could differmaterially from those currently anticipated due to a number of factorsand risks. Factors which could materially affect such forward-lookinginformation are described in the risk factors in the Company's mostrecent annual management's discussion and analysis that is availableon the Company's profile on SEDAR at www.sedar.com. Readers arecautioned that the foregoing list of factors is not exhaustive. Theforward-looking statements included in this news release are expresslyqualified by this cautionary statement. The forward-looking statementsand information contained in this news release are made as of the datehereof and the Company undertakes no obligation to update publicly orrevise any forward-looking statements or information, whether as aresult of new information, future events or otherwise, unless sorequired by applicable securities laws.
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