Toronto, Ontario – TheNewswire – September 30, 2020 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Corporation“), (TSXV:VPT) & (OTC:VPTDF) is pleased to announce, Mr. Hugh MacNaught has been appointed as a Director of the Corporation.
Mr. MacNaught is a seasoned life science executive with more than thirty years of experience in the development, commercialization and financing of therapeutic, diagnostic and medical device technologies and ventures. His career includes roles within multinational corporations including Nordion, Kodak, Boehringer Mannheim (Roche) and Philips and the venture capital industry. A serial entrepreneur, he has founded, financed and led several ventures and is a mentor in the entrepreneurship programs at Simon Fraser University and the University of British Columbia. He brings strong business acumen, governance experience and an extensive network of world-class industry experts to drive transformation of technology-based ventures.
“I am pleased to join the Board of Ventripoint” said Mr. MacNaught. “The Company’s heart analysis system provides important functionality to cardiac ultrasound and equips cardiologists with the ability to more efficiently assess and manage patients, whose outcomes could be improved with better access to highly accurate and timely 3D whole heart analysis. The Ventripoint team has done an excellent job in evolving the VMS technology into an attractive product offering. I look forward to working with the board and management to accelerate the placement of systems into leading cardiac centres in the U.S., Europe, and Canada”.
“The Corporation welcomes Hugh to the Board of Directors and looks forward to his assistance in building value for the shareholders of the Corporation,” stated Dr. George Adams, Ventripoint’s Executive-Chairman. “Expanding the Board is appropriate at this time as the Corporation resumes deliveries of VMS+3.0 whole-heart analysis systems.”
The Corporation has awarded Mr. MacNaught a grant of 500,000 options at an exercise price of $0.10 with a 10-year term with 200,000 vested immediately and the remainder to be vested annually over 3 years. The Corporation has also awarded the other Directors of the Corporation an option grant of 500,000 option grants each. Dr. Adams as the CEO had an additional 625,000 option grants awarded and the Chair of the Business advisory Committee was awarded 100,000 option grants. The Corporation’s CFO has received 150,000 option grants. In addition, the Corporation has awarded employees and consultants an aggregate of 2,050,000 option grants. All option grants are at an exercise price of $.10. The Corporation now has 2,325,000 options available for future grants from the original pool of 10% of issued shares as approved by its shareholders at the last Annual General Meeting on August 15, 2019.
About Ventripoint Diagnostics Ltd.
Ventripoint has become an industry leader in the application of AI (Artificial Intelligence) to echocardiography. Ventripoint’s VMS products are powered by its proprietary KBR technology, which is the result of a decade of development and provides accurate volumetric cardiac measurements equivalent to MRI. This affordable, gold-standard alternative allows cardiologists greater confidence in the management of their patients. Providing better care to patients serves as a springboard and basic standard for all of Ventripoint’s products that guide our future developments. In addition, VMS+ is versatile and can be used with all ultrasound systems from any vendor supported by regulatory market approvals in the U.S., Europe and Canada.
For further information, please contact:
Mr. Peter Weichler, Director
Mr. Clay Chase
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Factors which could materially affect such forward-looking information are described in the risk factors in the Company’s most recent annual management’s discussion and analysis that is available on the Company’s profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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