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Ventripoint Announces Closing of Second Tranche of Amended Non-Brokered Convertible Debenture Private Placement and Extension of Offering
(TheNewswire) Toronto, Ontario – TheNewswire - January 20, 2025 –...
About this update from Ventripoint Diagnostics Ltd.
[{"type":"text","content":"Ventripoint Announces Closing of Second Tranche of Amended Non-Brokered Convertible Debenture Private Placement and Extension of Offering\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 –\n \n\n TheNewswire -\n \n\n January 20, 2025\n \n\n –\nVentripoint Diagnostics Ltd.\n \n\n (“\n \n\n Ventripoint\n \n\n ” or the\n“\n \n\n Corporation\n \n\n ”\n \n\n )\n \n\n ,\n \n\n (\n \n\n TSXV:VPT) announces,\nfurther to its press release dated December 17, 2024 announcing the\nclosing of the first tranche of its non-brokered private placement\n \n\n (see November 6, 2024, December 9, 2024,\nDecember 17, 2024 and December 20, 2024 press releases)\n \n\n (the “\n \n\n Offering\n \n\n ”) of unsecured convertible\ndebentures (“\n \n\n Debentures\n \n\n ”) which raised gross proceeds of\n$341,000, the\n \n\n closing of the second tranche of\n the Offering with the issuance of an additional $169,000 principal\namount Debentures\n \n\n .\n \n\n\n\n The Debentures mature on June 28, 2027. The principal\namount of each $1,000 of Debenture will be convertible, at the option\nof the holder, into common shares of the Corporation (“\n \n\n Common Share\n \n\n ”) at a\nconversion price of CDN$0.10 for the first year of the term, CDN$0.15\nfor the second year of the term and at CDN$0.25 thereafter.\n \n\n (the “\n \n\n Conversion Price”\n \n\n ),\n \n\n\n\n The Debentures bear simple interest at an annual rate\nof ten per cent (10%), calculated on the principal amount, with any\naccrued but unpaid interest under the Debentures due and payable\nsemi-annually in arrears in either cash or at the option of the\nCorporation 40% cash and 60% Common Shares, or 100% common shares at\nthe option of the holder, with the number of Common Shares being\ndetermined by using the 20-day volume-weighted average price of the\nCommon Shares on the TSX Venture Exchange (“\n \n\n Exchange\n \n\n ”) on that\ndate that is five (5) days prior to the last trading day of the\napplicable period.\n \n\n\n\n The Debentures will convert automatically into Common\nShares of the Corporation in the event the Corporations’ Common\nShares closing price prior to October 20, 2026 exceeds 100% o...