VPTDF - Ventripoint Announces Sponsorship for the 54th Annual Meeting of the Association of European Paediatric and Congenital Cardiology
(TheNewswire)
Ventripoint Also Provides a Financial Update
Toronto, Ontario – TheNewswire –May 21, 2021 - Ventripoint Diagnostics Ltd.(" Ventripoint " or the " Company "), (TSXV:VPT ) ; ( OTC:VPTDF) is pleased to announce that they will be a Bronzelevel sponsor for the 54 th Annual Meeting of the Association of European Paediatric and Congenital Cardiology (AEPC) to be helddigitally on May 25 th - 27 th, 2021.
The AEPC was founded in Lyon in 1963 and has grown intoa network of specialists in cardiology and related fields. The AEPCmission is to promote the knowledge and learning in the field ofcardiac disease in children. The current overall membership of theAssociation includes 1500 paediatric cardiologists and otherspecialists.
The event will feature digital platforms withplenaries, parallel sessions, digital posters, and industryexhibitions. There are an expected 1000 participants, who will includeinternational physicians, nurses, and technicians in the field ofPaediatric and Congenital Cardiology.
“The AEPC Annual Meeting is an excellent opportunityto inform paediatric cardiologists, who focus on the right side of theheart, of the unique ability of the VMS+3.0 to provide accurate andreliable volumetric measurements of heart function,” stated Dr.George Adams, Executive-Chairman of Ventripoint.
Some highlights of the digital conference will includesessions on topics such as timing of pulmonary valve replacements,optimal treatment in atrial septum defect in pediatric patients, valueof ultrasound in congenital heart disease, and much more.
The AEPC 2021 will be showcasing Ventripoint’ssupport by having a digital booth on the AEPC digital platform.
Ventripoint is dedicated to the continuous developmentof medical technology that provides value to clinicians in theassessment and diagnosis of cardiovascular disease.
In other news, the Company is providing an update onits financial status and the exercise of warrants and options.
The Company now has sufficient cash to cover operatingand development expenses for three years at the current burn rate. In addition, the Company has no debt outstanding and a clean balancesheet.
On March 23, 2017, the Company issued 10,396,938warrants at an exercise price of $.50. Since the last update (see NRMay 9, 2021), more of these warrants have been exercised. As of today,3,385,127 (~33%) have been exercised for gross proceeds of $1,692,564. Insiders of the Company have exercised 612,500 of these warrantsrepresenting $306,250. There are 7,011,811 outstanding warrants,which expire May 23, 2021.
There remains 1,286,666 of the warrants issued onOctober 2, 2019 and having an exercise price of $0.115. Thesewarrants expire on October 2, 2022. There are no other warrantsoutstanding.
Since the last update (see NR May 9, 2021), the Companyhas had 175,000 options exercised for gross proceeds of $63,750. There are 6,498,750 options outstanding with exercise prices between$.10 to $.50. 3,188,750 of these option grants have vested and theremainder will vest over the next 2.7 years. The Company has1,828,685 options available for future grants.
After the issuance of shares for exercised warrants(some in process), the Company will have approximately 137,553,405common shares issued and outstanding.
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
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 on which such forward-looking statements andinformation are based are reasonable, undue reliance should not beplaced on the forward-looking statements and information because theCompany can give no assurance that they will prove to becorrect.
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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