Ventripoint Announces Change to the Board of Directors and Opening of Manufacturing Facility in Canada
Seattle, Washington – February 15, 2016 - Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”) (TSXV:VPT) is pleased to announce that Dr. Don Segal has joined the Board of Directors of the Company replacing Mr. Treuman Katz, who has stepped down after 8 years as a Director of the Company.
“It has been a great privilege to work with Treuman, who has been the thoughtful, strategic and considerate Chairman of the Board for all my time at Ventripoint,” stated Dr. George Adams, President and CEO. “We at Ventripoint wish him all the best.” “I am pleased to welcome Dr. Segal to the Board of Directors and I look forward to his advice as the Company continues to commercialize the VMS™ technology for analysis of the whole heart.”
Dr. Segal is an entrepreneur with a successful history starting companies both in the private and public sector. With approximately 40 years of experience in the healthcare industry, he has managed several start-up companies through to commercialization. He is currently the Chair-man and CEO of United Biopharmaceuticals Inc. Previously he founded Joldon Diagnostics and spearheaded its amalgamation with Intercon Pharma and Helix Biotech to form Helix BioPhar-ma Corp (TSX:HBP), where he was Chairman and CEO. During his tenure, the company was listed on the TSX and NYSE and raised significant funding from capital markets to support product development. Dr. Segal’s first company was Radioimmunoassay Inc. (RIA Inc), which was sold as a private company. Dr. Segal has a Ph.D. in Medical Sciences from the University of Guelph.
In other news, Ventripoint has established a development and manufacturing facility in Toronto, Canada. This will also serve as the head office of the Company. The facility will undergo an ISO certification audit in April. The Company’s new office phone number will be 416-848-4156 and fax number 416-848-0709.
The Company also announces that it has granted 37,500 Deferred Share Units (DSU’s) to certain directors. Under the terms of the Company’s DSU plan, holders of DSUs may redeem each DSU for one share of common stock upon the termination of their services to the Company, at no cost to the holder.
FORWARD LOOKING STATEMENT:
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. In particular, this news release contains forward-looking information relating to final acceptance of the Private Placement by the TSXV and the use of the proceeds therefrom. The forward-looking statements and information are based on certain key expectations and assumptions made by the Corporation. Although the Corporation 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 Corporation 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. Other factors, which could materially affect such forward-looking information are described in the risk factors in the Corporation's most recent annual management’s discussion and analysis that is available on the Corporation’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 Corporation 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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