VentriPoint Diagnostics Ltd (VPTDF)

[imjake]

Here is the email I received just now:

Attached is the news release for today documenting we have closed the second tranche of $495,000 of the private placement to complete the round (which we announced many months ago) with total gross proceeds of $1,220,000.

Here is some background:

1. The Company halted trading and ceased operations in December 2019 to restructure with a new Board and the return of Dr. Adams as acting CEO.
2. The Company closed a first tranche of the $1,220,000 financing February 9 ,2020 with proceeds of $725,000 and resumed operations with all key employees returning to work.
3. In March 2020, COVID-19 pandemic reached Canada and Company ceased manufacturing and fulfillment of orders to hospitals as hospitals were focused on COVID-19 operations.
4. The Company has been focused on eliminating barriers to adoption and enabling remote installation and training.
5. As of Sept 11, 2020 the Company has closed its financing with the remaining $495,000 of proceeds and now has the funds to fulfill its existing and forthcoming purchase orders (more about this in next NR).
6. The Company is in a “Resumption Review” with the TSXV Exchange and expects to be trading in the next few days and will provide a comprehensive corporate update prior to the resumption of trading.

As usual, if you have questions call me.

Regards,

Dr. George Adams ICD.D
Executive-Chairman
Ventripoint Diagnostics Ltd.