Seattle, Washington, October 4, 2013 - Ventripoint Diagnostics Ltd. (TSXV:VPT) announces that at its Annual General Meeting on September 26, 2013, the shareholders elected Dr. George Adams, Mr. Danny Dalla-Longa, Mr. Bradley Harlow and Mr. Treuman Katz as Directors of the Corporation. They further approved the Incentive Stock Option plan and gave authority to the Board of Directors to undertake a share consolidation if it deems the consolidation in the best interests of the Corporation. BDO was appointed as auditors of the Corporation for the next year.
The Board of Directors has granted 2,500,000 options to certain officers of the Corporation. The options are exercisable at $0.10 per share until the fifth anniversary date of the grant. In addition, the Corporation announces that it has granted a total of 540,000 Deferred Share Units (DSU) to certain directors. Under the terms of the Corporation's Deferred Share Unit Plan, holders of DSUs may redeem each DSU for one share of Common Stock upon the termination of their services to the Corporation at no cost to the holder.
About Ventripoint Diagnostics Ltd.
Ventripoint has created a diagnostic ultrasound tool to monitor patients with heart disease, a leading cause of death in developed countries. VMS(TM) is the first cost-effective and accurate diagnostic tool for measuring right ventricle heart function. Congenital heart disease in children and adults, pulmonary arterial hypertension and left-heart failure are the first applications in a suite of applications for all major heart diseases - a multi-billion dollar market potential. Canada and Europe (CE Mark) have granted approval for the sale of Ventripoint's VMS(TM) tool and the company is pursuing the U.S. FDA marketing clearance through the 510(k) process.
For further information please contact:
Ventripoint Diagnostics Ltd.
Dr. George Adams, CEO
Telephone: (206) 283-0221, ext. 401
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 Corporation'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 Corporation 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.
Neither 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 release
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