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Ventripoint Announces Closing of $500,000 Non-Brokered Convertible Debenture Unit Private Placement
(TheNewswire) Toronto, Ontario, March 21, 2025 – TheNewswire - Ventripoi...
About this update from Ventripoint Diagnostics Ltd.
[{"type":"text","content":"Ventripoint Announces Closing of $500,000 Non-Brokered Convertible Debenture Unit Private Placement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Toronto, Ontario, March 21,\n2025\n \n\n –\n \n\n TheNewswire -\n \n\n Ventripoint Diagnostics Ltd.\n \n\n (“\n \n\n Ventripoint\n \n\n ” or the “\n \n\n Corporation\n \n\n ”,\nTSXV:VPT)\n \n\n announces the closing of its\npreviously announced (see press release of March 14, 2025)\nnon-brokered private placement (the “\n \n\n Offering\n \n\n ”) of\nunsecured convertible debenture units (“\n \n\n Units\n \n\n ”), subject to\nfinal TSXV Venture Exchange (the “\n \n\n Exchange\n \n\n ”)\nacceptance. The Corporation has issued 500 Units for aggregate gross\nproceeds of $500,000.\n \n\n\n\n Each Unit is comprised: of one (1) unsecured\nconvertible debenture principal amount of $1,000 (“\n \n\n Debentures\n \n\n ”)\nconvertible into common shares (“\n \n\n Common Shares\n \n\n ”) of\nthe Corporation; and 7,143 common share purchase warrants\n(“\n \n\n Warrants\n \n\n ”).\n \n\n\n\n The Debentures are convertible into Common Shares of\nthe Corporation at the option of the holder at any time prior to\nmaturity at a conversion price of $0.14 per Common Share (the\n“\n \n\n Conversion\nPrice\n \n\n ”). E\n \n\n ach whole\nWarrant will entitle the holder thereof to purchase one (1) Common\nShare at a price of $0.18 until June 28, 2027.\n \n\n\n\n The Debentures\n \n\n mature June 28,\n2027 and\n \n\n bear interest at the rate of ten per\ncent (10%) payable semi-annually in arrears in either cash or at the\noption of the Corporation\n \n\n by issuance of Common\nShares at a 20-day VWAP market price, determined at time of\npayment,\n \n\n subject to Exchange approval.\n \n\n\n\n The Corporation paid aggregate cash finder’s fees of\n$4,320 (0.9% of the gross proceeds) and issued an aggregate of 30,857\ncommon share purchase warrants (“\n \n\n Finder’s Warrants\n \n\n ”) to finders in connection with the Offering.  Each\nFinder’s Warrant is exercisable into one Common Share of the\nCorporation at an exercise price of CDN$0.14 per Common Share for a\nperiod of 18 months.\n...