VPTDF - Ventripoint Announces Extension Warrants from March 23 2021 to May 23 2021
(TheNewswire)
Toronto, Ontario – TheNewswire –March 3, 2021 - Ventripoint Diagnostics Ltd.(" Ventripoint " or the " Company "), (TSXV:VPT ) ; ( OTC:VPTDF) announces that it hasapplied to the TSX Venture Exchange (the “ TSXV ”) to extendthe expiry date of 10,496,938 common share purchase warrants issued bythe Corporation (the “ Warrants ”) in connection with a privateplacement financing on March 23, 2017 and previously extended to March23, 2021. This Company will extend the expiry date by 60 days to May23, 2021. The Warrants to be amended do not include any warrantsissued to finders or agents. No other terms of the Warrants are to beamended and the exercise price remains at $0.50.
The proposed amendment of the Warrants is subject tothe approval of the TSXV.
Certain of the Warrants are held by parties who areconsidered to be “related parties” of the Corporation (suchwarrants, the “ Related PartyWarrants ”). Therefore, the amendment of theRelated Party Warrants constitutes a “related party transaction”as contemplated by Multilateral Instrument 61-101 Protection ofMinority Shareholders in Special Transactions, and TSXV Policy 5.9 -Protection of Minority Shareholders in Special Transactions. However,the exemptions from formal valuation and minority approvalrequirements provided for by these guidelines can be relied uponbecause neither the fair market value of the Related Party Warrantsnor the fair market value of the consideration paid for the RelatedParty Warrants exceeds 25% of the market capitalization of theCorporation. A material change report in respect of this related partytransaction will be filed by the Corporation. The extension of thewarrants will be effective upon TSX Venture Exchange approval, whichis expected prior to the 21 st day from the date of this pressrelease.
Holders of Warrants will not receive an amended Warrantcertificate, and will be required to submit their original Warrantcertificate in order to exercise Warrants.
About Ventripoint DiagnosticsLtd.
Ventripoint has become anindustry leader in the application of AI (Artificial Intelligence) toechocardiography. Ventripoint's VMS products are powered by itsproprietary KBR technology, which is the result of a decade ofdevelopment and provides accurate volumetric cardiac measurementsequivalent to MRI. This affordable, gold-standard alternative allowscardiologists greater confidence in the management of their patients.Providing better care to patients serves as a springboard and basicstandard for all of Ventripoint's products that guide our futuredevelopments. In addition, VMS+ is versatile and can be used with allultrasound systems from any vendor supported by regulatory marketapprovals in the U.S., Europe and Canada.
For further information, pleasecontact:
Dr. George Adams
Email :gadams@ventripoint.com
Phone:519-803-6937 ???????????????????
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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