Toronto, Ontario – TheNewswire – June 11, 2024 - Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company"), (TSXV:VPT; OTC:VPTDF) announced a teleconference to be conducted June 14th at which an update to shareholders will be provided.

“During the first quarter we focused on effecting leadership change in the company and assessing the status of the technology, user base, operations and commercialisation. The Ventripoint team worked closely with our EU and UK distributors to improve sales and customer support processes and decided against renewing agreements with non-performing US distributors.  We effectively controlled our operating expenses and updated internal plans and forecasts to identify capital requirements for 2024. The Company is now in the process of implementing CRM and new project management software and is adopting a product management discipline. These changes are positioning Ventripoint to become better aligned with patient and clinician needs and to support revenue generation and growth” said Hugh MacNaught, Ventripoint President & CEO.

“We remain committed to enhancing the level of care provided to the 13 million worldwide sufferers of congenital heart defects with affordable, accurate and reliable measurements of heart structure and function and intend to establish market leadership by 2025. Concurrently the Company is actively identifying additional clinical indications and market segments in which VMS+ offers a clear value proposition.”

Highlights include:

• Sale of a second unit to Duke University Hospital 

• Migration of the corporate website to a new platform 

• Sponsorship of the AEPC conference in Porto, Portugal and delivery of two hands-on workshops with VMS+ 

• Submission of VMS+ V4.0 to FDA for 510(k) clearance 

• Recruitment of two members to the marketing team 

• Annual MDSAP audit 

• Regulatory approval of VMS+ in New Zealand 

• Selection of a regulatory consultant for Brazil 

• Initiation of financing of up to $3M CAD through convertible debentures 

In other news, the Company’s financial results for the first quarter ended March 31, 2024, and the related MD&A, have been filed and are available on the System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca.

The Company wishes to invite its shareholders to a teleconference to be held on Friday, June 14, 2024, at 11:00 am EST.  

• Participants can access the call by dialing 1-844-763-8274 or +1-647-484-8814. It is recommended that you call 10 minutes before the scheduled start time to avoid the queue.
• After the call, an audio recording will be made available via telephone for one month, until end of day July 14th. The recording can be accessed by dialing 1-855-669-9658 or +1-604-674-8052 and using the access code 0828#.
• A written transcript of the call will be available on Ventripoint’s website shortly after its conclusion. For further information, please contact:

Jonathan Robinson

This email address is being protected from spambots. You need JavaScript enabled to view it.

416-669-1001

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