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VentriPoint Diagnostics Ltd. (VPTDF) Prices Private Placements Of Common Stock

|Includes: VentriPoint Diagnostics Ltd. (VPTDF)

VentriPoint Diagnostics, developer of a diagnostic ultrasound tool to monitor patients with heart disease, said it intends to complete a non-brokered private placement of up to 1,000 units of the company for $1,000 per unit for gross proceeds of up to $1 million. Each unit will consist of $1,100 principal amount of non-convertible secured debentures that will mature three years from the date of issuance and 2,000 common shares in the capital of the company.

The company also reported a non-brokered private placement of up to $800,000 of non-convertible secured debentures in a principal amount of $1,000 per non-unit debenture, which will mature July 18, 2014.

Each unit debenture is subject to a 10 percent capital discount premium to the subscriber such that for every $1 unit debenture acquired, upon the maturity date VentriPoint will owe an amount equal to $1.10 to the subscriber minus any payments of principal to date.

The debentures will bear interest at a rate of 12 percent per annum and shall be calculated on the initial debenture amount.

The debenture holders shall receive a pro rata 20 percent first charge on gross revenues at the end of each calendar quarter from sales of VentriPoint Medical System (VMS) machines until the debentures are retired.

VentriPoint plans to use the proceeds from the private placements to commercialize the product and service of its VMS machines; to obtain clinical validation of VMS functionality, including applications for additional diagnoses and heart diseases; and for general working capital purposes as well as to potentially to repay debt and outstanding payables.

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