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Ventripoint Announces Closing of Second Tranche of Non-Brokered Convertible Debenture Private Placement and the Extension of the Offering
(TheNewswire) Toronto, Ontario – TheNewswire - July 2, 2024 – Ven...
About this update from Ventripoint Diagnostics Ltd.
[{"type":"text","content":"Ventripoint Announces Closing of Second Tranche of Non-Brokered Convertible Debenture Private Placement and the Extension of the 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 July 2, 2024\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 TSXV:VPT)\nfurther to Ventripoint’s press release dated May 13, 2024 announcing\nthe closing of the first tranche of the previously announced\nnon-brokered private placement (the “\n \n \n Offering\n \n \n ”) of\nunsecured debentures (“\n \n \n Debentures\n \n \n ”) which raised gross proceeds of\n$941,000, Ventripoint is pleased to announce it has closed the second\ntranche of the Offering with gross proceeds of $184,000.\n \n \n \n \n In total, Ventripoint raised an aggregate of $1,125,000\npursuant to both tranches of the Offering.\n \n \n Insiders and employees and close associates of the\nCorporation have subscribed for an aggregate $428,000 (38%) of this\naggregate principal amount of Debentures, including subscriptions for\nan aggregate of $367,000 of Debentures by officers and directors of\nthe Corporation.  Further to the press release of June 27, 2024, the\nExchange has accepted the Company’s request for an extension of the\nOffering until July 27, 2024.\n \n \n \n \n The principal amount of each $1,000 of Debenture will\nbe convertible, at the option of the holder, into 4,000 common shares\nof the Corporation (“\n \n \n Common\nShare\n \n \n ”) for an effective conversion price of\nCDN$0.25 per Common Shar\n \n \n e\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, with the number of Common\nShares being determined by using the 20-day volume-weighted average\nprice of the Common Shares on the TSX Venture Exchange\n(&...