Business
Ventripoint Provides Financing Update
(TheNewswire) Toronto, Ontario – TheNewswire - August 28, 2024 – ...
About this update from Ventripoint Diagnostics Ltd.
[{"type":"text","content":"Ventripoint Provides Financing Update\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 August 28, 2024\n \n\n –\nVentripoint Diagnostics Ltd.\n \n\n (\"\n \n\n Ventripoint\n \n\n \" or\nthe \"\n \n\n Corporation\n \n\n \"\n \n\n )\n \n\n ,\n \n\n (\n \n\n TSXV:VPT)\n \n\n is pleased to provide an\nupdate on its proposed financing activities:\n \n\n\n\n LIFE Offering:\n \n\n\n\n Ventripoint intends to complete, subject to TSXV\nVenture Exchange (“\n \n\n TSXV\n \n\n ”) acceptance, a non-brokered private\nplacement of up to CDN$500,000 (the “\n \n\n LIFE\n \n\n Offering\n \n\n ”) of units (“\n \n\n Units\n \n\n ”) of the\nCorporation at price of $0.195 per Unit.\n \n\n The\nLIFE Offering is being made to purchasers’ resident in Canada,\nexcept Quebec, pursuant to the listed issuer financing exemption under\nPart 5A of National Instrument 45-106\n \n\n Prospectus Exempt\nDistributions\n \n\n (the \"\n \n\n Listed Issuer Financing\nExemption\n \n\n \"). The securities offered under\nthe Listed Issuer Financing Exemption will not be subject to a hold\nperiod in accordance with applicable Canadian securities laws.\n \n\n\n\n Each Unit will consist of one common share of the\nCorporation (each, a \"\n \n\n Share\n \n\n \") and one Share purchase warrant of\nthe Corporation (a \"\n \n\n Warrant\n \n\n \"). Each Warrant will entitle the\nholder to purchase one Share (each, a \"\n \n\n Warrant Share\n \n\n \")\nat a price of $0.30 per Warrant Share at any time on or before the\ndate which is 6 months after the issuance of the Warrant, subject to\nadjustment in certain events.\n \n\n\n\n The Corporation may pay cash finder’s fees of up to\n4% of the gross proceeds of the LIFE Offering. Finders may also\nreceive common share purchase warrants (“\n \n\n Finder’s Warrants\n \n\n ”) equal to up to 4% of the aggregate subscription amount\nin relation to subscribers introduced by the finder, each Finder’s\nWarrant will be exercisable into one Common Share at an exercise price\nof CDN$0.195 per Common Share for a period of 6 months.\n \n\n\n\n The Corporation will use the proceeds of the LIFE\nOffering to fund operational costs related to sales and ...