Investors hearkened to cheery news among small-cap health-care stocks Thursday, with word that Toronto-based Ventripoint Diagnostics Ltd. (TSX-Venture:VPT) had closed a non-brokered private placement.
Thursday’s news release said the private placement involved 4,687,132 units of the Corporation at 15 cents per unit for total gross proceeds of over $703,000. All directors and two officers of the Corporation subscribed for a total of 48% of the placement.
The release went on to say each unit consists of one common share of the Corporation and one common share purchase warrant with each Warrant exercisable for one Common Share at an exercise price of 17.5 cents per Common Share for a period of 36 months after the issuance of the Warrant.
VPT will use the proceeds of the Offering for sales and marketing, development and general working capital purposes. All securities issued in connection with the Private Placement will be subject to a statutory hold period of four months and one day. The Private Placement remains subject to final acceptance of the TSX Venture Exchange.
Shares in Ventripoint ballooned half a cent, or 5%, to 10.5 cents, late Thursday morning, on volume of 112,000
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