SEATTLE, Oct. 2 /CNW/ -- VentriPoint Diagnostics Ltd. ("VentriPoint")
(TSX Venture: VPT) announced today that, subject to TSX Venture Exchange
approval, it has retained CHF Investor Relations (Cavalcanti Hume Funfer Inc.,
"CHF"), Canada's only IR firm whose management team's combined experience
possesses more than 80 years covering brokerage, trading, financial analysis,
and investment sales, over and above their work in IR.
Joseph Ashley, VentriPoint's President and CEO, commented, "Our
technology has the potential to become the standard for monitoring cardiac
status. Backed by CHF Investor Relations, we will add depth and breadth to our
investment audience with those who can recognize our achievements as we
develop the VentriPoint Diagnostics System with the expectation that
commercialization will commence in January 2009."
Effective immediately, CHF will provide comprehensive investor relations
and market-making services for a fixed term of twelve months to September 30,
2009. Thereafter, services may continue on an open-ended basis whereby
cancellation by either party requires three months' notice. CHF will be paid a
monthly fee of $7,500 plus allowable disbursements. Additionally, subject to
regulatory approval, VentriPoint has agreed to grant incentive stock options
to CHF in the amount of 273,000 at an exercise price of $0.35 per share for a
period of five years; and a further 273,000 to be granted after six months,
price to be determined by the prevailing market price on March 31, 2009.
VentriPoint also announces that it has received TSX Venture approval to
issue shares in payment of debt as previously announced on September 15, 2008,
and May 15, 2008. In accordance with TSX Venture bulletin dated September 25,
2008, VentriPoint has issued, in aggregate, 162,322 common shares in the
capital of VentriPoint (the "Common Shares") at a deemed price of $0.255 per
share to non-officer directors and consultants of VentriPoint as payment of
services from May 2008 to June 2008 to settle an outstanding debt of $41,391.
It has also issued, in aggregate, 355,271 Common Shares at a deemed price of
$0.20 per share to non-officer directors and consultants of VentriPoint as
payment of services from September 2007 to April 2008 to settle an outstanding
debt for $71,054.
Accounting for the above issuances, the Company currently has 36,424,858
Common Shares issued and outstanding.
About CHF Investor Relations
CHF's effective role is acting as a public company's outsourced, low-cost
equivalent to an internal investor relations department. CHF serves an
international portfolio of TSX / Venture-listed companies and others seeking
to list on North American Exchanges, that operate in a broad range of
industries including high-tech, industrial and business solutions, niche
financial products, oil & gas, mining exploration and producers,
telecommunications, and "green" companies. The depth of capital market
experience is formidable dating back to the late 1970's. When all the years
are combined the firm boasts well over eight decades of experience which is
unrivalled by any other IR firm in Canada. CHF's head office is in Toronto,
with another Canadian office in Calgary; as well as branch offices in New
York, USA; Sao Paulo, Brazil; and Shanghai, China.
About VentriPoint Diagnostics Ltd.
VentriPoint creates diagnostic tools to monitor patients with heart
disease - the number one cause of death in developed countries. By using data
produced from existing two or three-dimensional medical imaging systems, the
VentriPoint Diagnostic System creates a revolving 3D model of the right and
left ventricles and generates critical heart measurements in a rapid and
inexpensive manner not currently available. This breakthrough diagnostic tool
is based upon technology that VentriPoint has licensed from the University of
Washington. The VentriPoint Diagnostic System, together with its associated
online service, is being developed for a variety of heart related disease
states including congenital heart disease. Shares of the Company are listed
for trading on the TSX Venture Exchange under the symbol "VPT."
To receive Company news via email contact firstname.lastname@example.org and mention
"VentriPoint News" on the subject line.
For further information, please contact:
Edward Garth, Chief Financial Officer
VentriPoint Diagnostics Ltd.
Telephone: (206) 283-0221
Facsimile: (206) 283-2309
CHF Investor Relations
Christopher Haldane, Account Manager
Telephone: (416) 868-1079 ext. 237
Facsimile: (416) 868-6198
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: The statements made in this press release
that are not historical facts contain forward-looking information that
involves risk and uncertainties. All statements, other than statements of
historical facts, which address VentriPoint's expectations, should be
considered forward-looking statements. Such statements are based on
management's exercise of business judgment as well as assumptions made by and
information currently available to management. When used in this document,
the words "may", "will", "anticipate", "believe", "estimate", "expect",
"intend" and words of similar import, are intended to identify any
forward-looking statements. You should not place undue reliance on these
forward-looking statements. These statements reflect a current view of future
events and are subject to certain risks and uncertainties as contained in the
Company's filings with Canadian securities regulatory authorities. Should one
or more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results could differ materially from those
anticipated in these forward-looking statements. The Company undertakes no
obligation, and does not intend, to update, revise or otherwise publicly
release any revisions to these forward-looking statements to reflect events or
circumstances after the date hereof, or to reflect the occurrence of any
unanticipated events. Although management believes that expectations are
based on reasonable assumptions, no assurance can be given that these
expectations will materialize.
For further information:
For further information: Edward Garth, Chief Financial Officer,
VentriPoint Diagnostics Ltd., +1-206-283-0221, or Facsimile, +1-206-283-2309,
email@example.com, or Christopher Haldane, Account Manager, CHF Investor
Relations, +1-416-868-1079 ext. 237, or Facsimile, +1-416-868-6198,