VPTDF - Ventripoint Diagnostics Issues Shares in Payment of Debenture Interest Consulting Fees and DSU Exercise
(TheNewswire)
Toronto, Ontario - TheNewswire -November 26, 2020 - Ventripoint Diagnostics Ltd. (" Ventripoint " or the " Company "),(TSXV:VPT ) ( OTC:VPTDF) announces it will issue an aggregate of 233,365 shares for the payment of $23,337 ofinterest for the three months ended November 6, 2020, on ConvertibleDebentures issued by the Corporation on February 6, 2020 andConvertible Debentures issued the same date as part of a replacementof convertible debentures. Pursuant to the Convertible Debentures, theshares will be issued at a deemed price of $0.10 per share. TwoDirectors of the Company will receive a total of 72,523 common sharesin payment of $4,085 of interest on their ConvertibleDebentures.
The Company will also issue an aggregate of 554,666shares to two consultants for $41,600 in consulting fees at a deemedprice of $0.075 per share.
In addition, 142,500 shares will be issued pursuant tothe exercise of Deferred Share Units, issued under the Company's DSUPlan, by a retired director, at a deemed price of $0.10 pershare.
All the above issuances of shares are subject to theapproval of the TSXV Exchange.
About Ventripoint DiagnosticsLtd.
Ventripoint has become anindustry leader in the application of AI (Artificial Intelligence) toechocardiography. Ventripoint's VMS pr oducts 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 similar expressions are intended to identifyforward-looking information or statements. The forward-lookingstatements and information are based on certain key expectations andassumptions made by the Company. Although the Company believes thatthe expectations and assumptions on which such forward-lookingstatements and information are based are reasonable, undue relianceshould not be placed on the forward-looking statements and informationbecause the Company 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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